Professional Carwashing & Detailing

Pittsburgh carwashes on the market for $1.4M

March 26, 2013

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.

Investors buy carwash for $1.1 million

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.