688 John FitchbHighway - Car Washes FOR SALE


Fitchburg, MA 01420
$2,850,000 USD
978-821-1846
688 John FitchbHighway, Fitchburg, MA for Sale
$2,850,000 USD
Car Washes - FOR SALE
1/28
null | 15.79% Cap Rate

688 John FitchbHighway
Fitchburg, MA 01420


HIGHLIGHTS

  • Busy and visible location within commercial neighborhood.
  • Substantially updated 2016...equipment and structure.
  • 2 Touch free Washworld Razor & 3 self serve bays (each bay with foam brush & hand gun), vacuum & vending/change and 2 Pay Stations..
  • Per owner...auto wash pricing recently updated.
  • Potential 1031 replacement property

OVERVIEW

HUGE PRICE REDUCTION. POTENTIAL 1031 REPLACEMENT PROPERTY AVAILABLE IMMEDIATELY...WITH ESTABLISHED CASHFLOW. NEW APPLEPAY JUST INSTALLED & ROUTINE COSMETIC UPGRADING JUST COMPLETED (FADED PANELS & CUSTOMER SELECTION LABELS POLISHED/REPLACED). IMMACULATE...SHOWS PRIDE OF OWNERSHIP. THREE YEAR AVERAGE ANNUAL NET INCOME $450K. Net Income noted is IF actively self-managed/daily maintenance...while still providing for repair/maintenance line item. Under current ownership, there are two management/maintenance personnel....paid up to $80K+ annual to individuals that ALSO INCLUDE overseeing other properties of same owner...THESE ARE NOT FULL TIME EMPLOYEES FOR THIS PROPERTY!!! Concrete on up full equipment list replaced 2016 (see picture of list). Property is extremely well maintained 2 touchless bays & 3 self wash bays...lots of pictures provided. Well established, located in very visible and high traffic location. Site plan included in pictures...rear land used for snow removal and dumpster. Neighborhood has many commercial businesses and dense residential in surrounding neighborhood. Owner retiring...has completed sale of several commercial real estate holdings. NOT offered with seller financing.

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$922 USD /SF

CAP RATE

15.79%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,174 SF

ZONING

Commercial

APN/PARCEL ID

FITC-000034-000062-A000000

ASK ABOUT THIS PROPERTY

Tuomo PeltokangasCPA, INCMore Info
978-821-1846

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Tuomo PeltokangasCPA, INCMore Info
978-821-1846

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.