Listed by Bang Realty
$2,500,000
Ocean State Car Wash
Details
Property Type Special Purpose
Sub Type Car Wash
Tenancy Vacant
Year Built 2019
Acreage 0.630
Investment Type Owner/User
Owner User Investment Opportunity
Investment highlights
- Established Express Car Wash with Recurring Membership Base – The property operates as an established express car wash with a strong membership program, providing recurring monthly revenue and a consistent in-place customer base within the Warwick trade area.
- Prime High-Traffic Location Near TF Green Airport – Strategically positioned along Post Road with traffic counts exceeding 28,600 vehicles per day, the property benefits from excellent visibility, convenient access, and close proximity to TF Green International Airport, one of Rhode Island’s primary transportation hubs.
- Strong Surrounding Retail & Commercial Corridor – The property is located within a dense commercial corridor surrounded by national retailers, hospitality uses, automotive demand drivers, and airport-related traffic generators. Nearby businesses include AutoZone, CVS, Dunkin’, Dollar Tree, Domino’s, and numerous local restaurants and service-oriented operators. The surrounding trade area is further supported by national hotel brands including DoubleTree by Hilton, Hampton Inn, Best Western, and Hyatt Place Warwick, as well as rental car operators and airport-related commercial activity that contribute to consistent daily traffic.
- Built in 2019 with Modern Sonny’s Equipment – Constructed in 2019, the property features modern Sonny’s express tunnel equipment, reducing near-term capital expenditure requirements while providing operators with an established and efficient operational platform.
- Established Revenue Base with Margin Expansion Potential – The property has maintained stable historical gross revenue while offering significant future upside through operational efficiencies, expense optimization, payroll streamlining, membership growth initiatives, and margin expansion opportunities. Historical operating performance demonstrates the site’s ability to achieve materially stronger EBITDA margins than current operations.
- Owner-User Opportunity – The offering includes the business, building, and underlying real estate, allowing an owner-user or investor to directly control operations and participate in future operational upside.
- Potential Tax Benefits – Car wash investments may qualify for bonus and accelerated depreciation benefits, potentially enhancing after-tax returns. Investors should consult their tax advisor regarding eligibility and treatment.
Listing Contacts
Listed by Bang Realty
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