872 River Hwy Mooresville, NC 28117
- Car washes
- 1,669 SF
- 0.52 lot acres
Current Use by Public Records
- Finish Line Auto Wash / Car Wash
Property Details for 872 River Hwy
- Year built
- 2010
- Construction
- STEEL FRAME
- Lot size
- 0.52 lot acres
- Property size
- 1,669 SF
- Zone code
- CM
- Property type
- Car washes
- APN
- 4637-78-9653.000
- APU
- 4637789653000
Description
This exceptional turn-key car wash business and accompanying real estate presents a rare investment opportunity in Mooresville, North Carolina. Located at 872 River Hwy, this 1,669 square foot facility sits on a 0.51-acre lot (APN: 4637-78-9653.000) and boasts a highly profitable operational history. The asking price is $925,000. Currently operating with zero employees, this largely passive ownership model offers significant potential for growth. The business benefits from over 170 monthly memberships, exhibiting year-over-year growth in both car washes and revenue. Recent extensive upgrades include a new digital advertisement sign, updated pay station, new track system, new air mitters, new LED lighting, and other equipment improvements. The property enjoys a prime location on a main retail thoroughfare, with convenient proximity to Harris Teeter, Sam's Club, and Target. Furthermore, the surrounding area is experiencing significant residential development, including new multi-family and single-family homes, promising continued growth in customer base. The current owner does not engage in active advertising, suggesting further untapped revenue potential. Market analysis projects an 11.51% population increase within one mile and a 9.45% increase within three miles. The property is also subject to bonus depreciation (consult with your CPA for details). This is a truly exceptional opportunity for a hands-off, high-return investment in a thriving community.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $405,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $295,000
- 6.5%
- $330,000
- 7%
- $315,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $300,000
- Geo Method
- $365,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $370,000
- Retail
- $355,000
- Mixed-Use
- $325,000
- Hospitality
- $315,000
- Educational
- $300,000
- Residential Income
- $355,000
- Energy
- $410,000
- Income-Based Land
- $340,000
- Food Service
- $365,000
Location Insight
- Map
- Local Demand
- City
- Mooresville
- County
- Iredell
- State
- North Carolina
- Longitude
- -80.8908
- Latitude
- 35.6
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
