Truck Wash Facility

[justinschroeder]

Does anybody have any info on Semi-Truck and Trailer Washes. I have spoken with several of the large companies however they all build new. (at least I have cost data) I assume they would sell like other auto washes based on the amount of income they can generate. I found three sales on loopnet from across the country but would like some more info. Thanks

 

[Vernon Martin]

Appraisal of truck washes

Are you appraising the going concern or the real estate?

It has been 4 years since I've appraised one, but in my discussions with players in the truck wash industry, it became clear that truck washes are not sold as investment properties, but to owner occupants who actively manage the businesses located at these properties, which often include tire sales and oil change/lube services. The active players in southern California are Blue Beacon and Little Sisters. Good luck trying to get income data from them.

In appraising truck wash real estate I found the most consistent indicator was the price per bay for interstate highway-oriented truck washes. Back in 2006, the price per bay indicator in southern Cal had been increasing from about $200,000 per bay at the start of the decade to about $300,000 per bay in 2006. I haven't been following the market lately.

In searching for comps, I started with LoopNet, but had to go a lot further. I found a database of all the truck washes in California and then matched each address in southern California to RealQuest to determine if a sale had happened recently. It was quite tedious.

 

[CANative]

Is the concept of a truck wash (stand alone) getting kind of obsolete with the popularity of the mega-truck centers with restaurants (themed/branded), shower facilities. diagnostic & repair facilities and other amenities?