Special Purpose Properties

This business is a cash flowing real estate opportunity in the form of a Coin-Operated Car Wash with very valuable real estate. This business is a five bay - 2 automatic and 3 wands -  coin-operated car wash priced below market value. Low maintenance monthly cash flow with no tenants, but a steady stream of traffic, and backed by the value of a hard asset is always a sound investment! This opportunity is priced based on the real estate value from an old appraisal. In fact, the bank recently reassessed the current loan and updated the appraisal. The real estate appraised for approx. $100,000 more than the listed asking price!! This business produces a six figure cash flow - providing an investor with more than enough to cover debt and provide monthly cash flow for MINIMAL time involved. The current owner spends approximately 1 hour per week at the business. REVENUES increased in 2021 from the prior two years! 4 Year AVERAGE Cash Flow is OVER $108,000! Two top-of-the-line automatic washes. One is 4 years old. One is 10 years old, with a rebuilt system. Both are in excellent condition and top brand systems. Wands, hoses & pumps are in great condition, up-to-date, and the business comes with two backup systems, spare parts, hoses, pumps, etc. EQUIPMENT IS UPDATED, UPGRADED & IN EXCELLENT CONDITION!! ASKING PRICE $1,085,000 (real estate appraised value) ASSETS: Equipment = $448,000 (included in Asking) Inventory = $10,000 (included in Asking)

The Location and the Business / Commercial community surrounding this property provides a potential investor with the opportunity to expand this valuable location in numerous strategic ways. Located on Greater Cleveland's Eastside in the Heart of Little Italy just minutes from Case Western Reserve University, Cleveland Clinic & University Hospitals main campuses in University Circle.