1221 San Pedro SE Dr Albuquerque, NM 87108-5539

Property Details for 1221 San Pedro SE Dr

Year built

2002

Lot size

0.60 lot acres

Property size

2,496 SF

Property type

Car washes

APN

1-018-056-254-031-3-06-04

APU

101805625403130604

Description

This thriving, self-service car wash presents a unique investment opportunity in Albuquerque, New Mexico. Located at 1221 San Pedro Dr SE, this fee-simple property boasts a prime location just north of the intersection of high-traffic San Pedro (6,783 vehicles per day) and Gibson Blvd (21,538 vehicles per day), placing it within walking distance of Kirtland Air Force Base and the Veterans Hospital. The 2,500 square foot facility, built in 2002 and recently refurbished in 2022, features six self-service bays and six vacuum stations, equipped with new JE Adams Turbo Vacuums (including one upholstery and fragrance combo), new Laurel Vending Machines, new American Changer bill changers, and new Hydro minders for all chemicals. The property is fully occupied and generated gross sales of $79,300 in 2023, yielding a seller discretionary earnings (SDE) of $42,000, resulting in an attractive cap rate of approximately 9.33%. The property includes perimeter fencing and coin changers, along with dispensers for car wash accessories. The current owner utilizes part-time help, suggesting potential for increased owner return with full-time operation. This turnkey operation is zoned MX-L and offers a compelling combination of strong cash flow and significant upside potential. The asking price is $450,000, or $180 per square foot.