Pittsburgh carwashes on the market for $1.4M
PITTSBURGH — The real estate investment firm, Caldwell Holdings LLC is selling two carwashes here as a package deal for $1.4 million, a press release reported.
The March 26 press release stated, "there is the potential for a significant upside profit to be realized. Offered at $1,400,000, the current net operating income of just over $200,000, give this property a very attractive 14.57% capitalization rate."
Both locations have about 17,000 cars driving by daily.
The older carwash of the two was built in 2005 and features five bays and two pet washes. The newer one was built in 2008 and has four self-serve bays and two in-bay automatics.
To read the entire press release, click here.