1364 26Th StErie, PA 16508

Property Details for 1364 26Th St

Year built

1965

Construction

FRAME

Lot size

0.21 AC

Property size (Sq ft)

1,952 SF

Zone code

C2

Property type

Retail properties

Property subtype

Self service car washes

APN

19-062-004.0-119.00

APU

19062004011900

Description

This exceptional investment opportunity presents a thriving car wash business located at 1364 W 26TH Street, Erie, PA. The 1,952 square foot property sits on a 0.21-acre lot and is priced at $220,000. Currently operating as a Splash and Dash car wash, this location boasts high traffic and maximum visibility, ensuring a strong return on investment. Recent upgrades include a new rubber roof, updated lighting, a new HVAC system, and a state-of-the-art multi-camera security system. Further improvements encompass extensive masonry repairs and a newly paved blacktop. The business benefits from updated credit card and bill acceptance systems, maximizing efficiency and revenue. Multiple income streams are generated through the car wash operation itself, numerous vacuum stations and product dispensers, and a long-term lease agreement with Lamar for billboard advertising on the property. A substantial 20x40 garage bay provides ample space for storage or the potential development of a detailing shop, adding further revenue potential. This turnkey operation offers a rare chance to acquire a well-established, profitable business in a prime Erie location. The combination of high visibility, recent renovations, and multiple income streams makes this an attractive investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $516,212

  6.5%

  $476,503

  7%

  $442,467

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,127

  Geo Method

  $460,127

• Alternative Use

  Use

  Valuation

  Residential

  $401,948

  Hospitality

  $368,183

  Educational

  $306,324

  Medical

  $316,859

  Retail

  $476,503

Location Insight

City

Erie

County

Erie

State

Pennsylvania

Latitude

42.1011

Longitude

-80.1036

CBSA code

21500

CBSA name

ERIE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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