3470 Florida AveHemet, CA 92544

Property Details for 3470 Florida Ave

Year built

1991

Construction

TILT-UP CONCRETE

Lot size

0.69 AC

Property size (Sq ft)

2,750 SF

Zone code

C1

Property type

Retail properties

Property subtype

Retail space

APN

438-150-045

APU

438150045

Description

This thriving coin-operated car wash in Hemet, California presents a unique investment opportunity. Located on a spacious 30,056 square foot lot at 3470 E Florida Ave, 92544, this well-maintained facility boasts eight self-service bays, including one specifically designed for RVs and motorhomes. Built in 1991 and extensively renovated in 2023, the car wash features energy-efficient LED lighting throughout. All bays are equipped with credit card readers, accepting various payment methods including credit cards, debit cards, bills, quarters, and tokens. A state-of-the-art 32-camera surveillance system ensures security. The dual changer accepts major credit cards and dispenses tokens and bills. Seven Carolina Pride in-bay blow dryers and ten vacuums, enhanced by colorful canopies, provide customers with a complete car cleaning experience. The car wash offers multiple in-bay services and has ample space for potential expansion, such as adding auto detailing services. A Bay Watch system provides live monitoring of the car wash operations. The equipment is consistently upgraded, ensuring optimal performance and efficiency. The asking price for this turnkey operation is $690,000. A spot-free water system ensures a superior clean. This is a prime opportunity for an investor seeking a profitable and established business in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,111,042

  6.5%

  $1,025,578

  7%

  $952,322

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,215,678

  Geo Method

  $2,439,152

• Alternative Use

  Use

  Valuation

  Residential

  $865,113

  Hospitality

  $792,439

  Educational

  $659,300

  Medical

  $681,974

  Retail

  $1,025,578

Location Insight

City

Hemet

County

Riverside

State

California

Latitude

33.7482

Longitude

-116.935

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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