Excellent investment opportunity for a car wash and laundromat combination, the ”Wash Zone,” located on State Route 24/S. Main Street in Lewistown, Illinois. This is the only car wash and laundromat in Lewistown (population 1,963). 2023 net operating income (NOI) was $69,630 for a nearly 19.8% CAP rate. Traffic counts at this corner are 7900 per day. Carwash has 1 automatic bay and 3 manual wash bays. Sellers have operated this business for 12 years and are ready to retire – sellers average 8-10 hours per week maintaining the property. Updated features include: energy efficient boiler in carwash floor (2019), new boiler for carwash floor (2024), automatic car wash (2015), reverse osmosis (2019), water softener (2017), energy efficient windows (2013), laundromat water heater (2013), 10 front loading washing machines (2012), exterior of buildings painted (2015), new “pay stations” for car wash (2022), and asphalt parking lot resurfaced (2022).
1106-1110 MAIN Street Lewistown, IL 61542
Price Reduced
For Sale
1106-1110 MAIN Street
Lewistown, IL 61542
Price: $350,000
Type:
Commercial Sale
Commercial
Lot Size (Acres): 0.38
Agent:
Randy McMillen
Agent Email: randymcmillen1953@yahoo.com
Broker:
RE/MAX Traders Unlimited
Broker Phone: 309-687-5000
Broker Email: robinsimpson@remax.net