216 Main StCardington, OH 43315

Property Details for 216 Main St

Year built

1996

Lot size

0.17 AC

Property size (Sq ft)

1,578 SF

Property type

Retail properties

Property subtype

Other car washes

APN

C09-013-00-031-00

APU

C090130003100

Description

This thriving car wash business, located at 216 W. Main Street in Cardington, Ohio, presents a unique investment opportunity. The property features a fully automated car wash system, two self-service bays, and a convenient vacuum station. Significant recent upgrades totaling $250,000 enhance operational efficiency and longevity. These improvements include a new roof ($120,000 investment), a completely updated automatic wash system, a new water heater, and a new pressure tank. The dryers are only eight years old, the airlift doors are three years old, and the manual bays are six years old. The business benefits from in-floor heating, boiler heat, and a comprehensive security camera system. Additional features include water softening systems and on-demand hot water. The WashWorld automatic wash system was installed in October 2021. This turnkey operation is situated on a main thoroughfare in Cardington, ensuring high visibility and convenient access for customers. The asking price reflects the significant investment in recent upgrades and the strong potential for continued profitability. This is a rare opportunity to acquire an established and well-maintained car wash business in a desirable location. Detailed financial information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $436,909

  6.5%

  $403,301

  7%

  $374,494

• Comparable approach

  Method

  Valuation

  Relative Method

  $371,967

  Geo Method

  $371,967

• Alternative Use

  Use

  Valuation

  Residential

  $340,200

  Hospitality

  $311,621

  Educational

  $259,265

  Medical

  $268,181

  Retail

  $403,301

Location Insight

City

Cardington

County

Morrow

State

Ohio

Latitude

40.5001

Longitude

-82.8971

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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