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For Sale: Coin Car Wash - Laundromat, Absentee Run - Rancho Cucamonga, California

$1,500,000.00

Asking Price

  • Address: Rancho Cucamonga,

  • Status: Active

  • Posting ID: 288759

  • 10/5/24

Description

For sale is a coin-operated car wash, priced at $300,000. Rent for the car wash is $6,620.19 per month, with a CAM fee of $1,250. The lease extends until December 31, 2031, with three five-year renewal options. There is a 3.5% annual rent increase for the remainder of the lease term.

The car wash attendant is typically not considered a necessary expense in a coin-operated car wash pro forma and is excluded here. Insurance is included in the building’s CAM charges, while maintenance and repairs are accounted for within the attendant’s expenses.

The car wash generates monthly sales of $18,636 (reported for tax purposes) and operates 24 hours a day. It features five bays and five vacuums, with plenty of parking space. There is also the potential to add a car detailing service

Major annual expenses for the car wash include water ($9,067.80), electricity ($10,897.20), supplies ($20,000), rent ($79,442.68), CAM charges ($15,000), and employment costs ($23,000). There is one cleaning employee who works 1.5 hours per day at a rate of $21.50 per hour, seven days a week.

The car wash is easy to operate and maintain. The motor was replaced just 1.5 years ago.

Also for sale is a hybrid laundromat priced at $1.2 million. Monthly sales total $36,560 (as reported for tax purposes), with cash sales accounting for 33%–40% of total sales, and card sales making up the remaining two-thirds. Note that these figures do not include income from the fluff and fold service.

The laundromat was upgraded in June 2022 and expanded to 1,800 square feet. Over 50% of the machines are still under warranty.

Rent for the laundromat is $6,440 per month, with an additional $1,620 CAM (Common Area Maintenance) fee. The total store size is 3,600 square feet. The business is staffed by one full-time and two part-time employees. The lease is valid until December 31, 2031, with three additional five-year renewal options available.

Hybrid laundromat $ 424,354.38 /2023, Coin Car Wash $223,631.79 / 2023, Total income $ 647,986.17, Total Expenses $ 457,066.73.

Net income  $ 190,919.44 ( reported for tax purposes  tax ) / 2023 , No more issued Laundromat & Car Wash permits in this area. Selling both together.

To get more information about this Coin Car Wash - Laundromat, Absentee Run business for sale in Rancho Cucamonga please phone Steve Kim (Agent - BRE License #:01068216) at 213-880-5688 Cell and 213-880-5688 Text - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #288759 on BizBen.com. In addition to phoning Steve Kim, make sure you email Steve Kim above to get more info about this Coin Car Wash - Laundromat, Absentee Run, to ask any questions or request an appointment to see this business for sale. Thank you. License # 01068216. Wilshire Realty.

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Contact

  1. Name: Steve Kim
  2. phone iconPhone: 213-880-5688 Cell
  3. phone iconPhone: 213-880-5688 Text

Details

  1. Asking Price: $1,500,000.00

  2. Down: $500,000.00

  3. Cash Flow: $190,919.00

  4. Revenue:    $647,986.00

  1. Area: Rancho Cucamonga

  2. City: Rancho Cucamonga

  1. Attributes:

    Absentee RunTraining & SupportSBA Loan Pre-Qualified

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Related Links & Information Regarding This Posting

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