Purchase, refinance, or expand express tunnel, in-bay automatic and full-service car wash facilities
Car washes are among the more specialized property types in commercial real estate, and financing one means underwriting a business and a building at the same time. The equipment inside a tunnel often represents a substantial share of total project cost, and the property itself has limited use if the wash ever closes.
That combination makes many conventional bank lenders cautious. It is also exactly the kind of file non-bank commercial programs exist to handle.
Tunnel machinery, conveyors, dryers, reclaim systems and pay stations can represent a large share of total project cost. The equipment is assessed alongside the real estate, because together they determine whether the site can actually produce revenue.
A purpose-built wash bay is expensive to convert to anything else. That affects how conservatively the real estate is valued, and it is why operating performance of the wash itself is weighted more heavily than it would be for a generic retail building.
Vehicle count on the adjoining road, ingress and egress, visibility, stacking capacity and distance to competing washes all feed the revenue assumption. Two washes with identical equipment on different corners can underwrite very differently.
Unlimited wash club programs convert one-off transactions into recurring monthly revenue. A site with a substantial, stable membership base presents a far more predictable cash flow picture than one relying entirely on retail traffic.
Program parameters shown are current as of publication and are subject to change. All financing is subject to credit approval, property and business review, and program availability. Commercial and business-purpose financing only.
Tell us about the property and what you are trying to do with it. A commercial lending specialist will review your scenario and come back with terms.
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