Overview

Real Showing is proud to present a rare and unique opportunity to operate a full-service car wash at a perfect location on the San Francisco Peninsula.

History
The property used to be a gas station 2 years ago. In July 2008 a lot of money was invested to convert it to a car wash. All the equipment is new and fully operational and set up for "touchless" car washing.

Property was leased for the past year but business owners have had management issues and were not able to continue operating. Although the property owner does not have access to financial records, his understanding is the business was profitable. New management with aggressive marketing should turn this property into a cash cow.

Equipment
There is a new 20hp vacuum, a new Unimac towel washing machine, a DRB "Tunnel Watch" computer system, a new prep gun system, World Wide Air Dryer, complete rebuilt conveyor with new correlator and fully operational reclaim system. All equipment room electrical is rebuilt. Chrome arches in the tunnel.

The location is ideal, sitting next to the on-ramp for Highway 101. Any car exiting 101 has to pass by this property at the corner of Saratoga Drive. There are a lot of new developments in the area. On the north side of the property is the new San Mateo Police Department Headquarters. Next to that are newer office buildings occupied by Franklin Templeton Investments, Whole Foods Market, Gold's Gym, new townhomes and more.

FAQ's

Why is the owner selling or leasing?

The owner of this property has been in the car wash business for over 50 years but is now retired. Over the years he has built and operated many successful car wash operations. His words: "I'm too old for this."

Why is the asking price $2,799,000?

Land prices in San Mateo average around $90-100/sq ft. The remainder consists of the existing building, new car wash equipment, the difficult-to-obtain car wash/station permit, and most importantly the unbeatable location. Owning land in San Mateo is a very smart investment. Since there is no more room to grow, property values will appreciate and hold up better than other areas.

Why is the lease price $12,000/month?

Besides a turn-key car wash business with all new equipment and permits ..... location, location, location. This is still less than $0.58 per sqare foot, triple net.

Isn't this property is too small to operate a full service car wash?

No. One of the most successful car washes in the United States does over 30,000 cars/year and their property is smaller than this one. It is located at the corner or Divisadero & Oak Street in San Francisco, just 20 miles north of San Mateo. Most car wash operators are used to having large lots where the land is available and less expensive. Someone just has to know how to make use of the space efficiently. All of that has been worked out here. Now it just needs some good management.

Will the owner cooperate with brokers?

Yes.

Disclaimer: all information herein is believed to be correct, but we do not guarantee its accuracy and rely on prospects to rely only on their own investigations.