The Offering:
Rare opportunity to acquire a fully operational, existing, and well-proven car wash in Mebane, NC. The site includes a ten-bay car wash, comprised of eight self-powered and two hands-free wash bays, along with vacuum banks. Located along the area's main thoroughfare and minutes from Tanger Outlets, the region's premier outlet mall, and the I-40/85 interchange. The NCDOT is in the process of improving this I-40/85 interchange at Mebane Oaks Road due to the high traffic volume in the area and the expected future increase. In addition, preliminary approval has been given from the town of Mebane to subdivide a portion of the lot to support a 3,000 square foot standalone building if buyer chooses to subdivide.
Investment Highlights:
* Longstanding and well-proven business
* Efficient ingress/egress
* Recent improvements include repainting the building and resealing/restriping the parking lot in 2018
* Excellent future redevelopment opportunity
* Ability to reap rewards from subdivision and sale without affecting cash flow of car wash
Investment Summary:
* Building Area: approximately 4,700 SF
* Property Size: approximately 1.13 acres
* Property: fully operational car wash
* Business: Shiny-Nu Car Wash
* Sale price: $2,190,000
* Cap Rate: 10%
* Actual 2018 NOI: $217,213
