256 Boggs Ln Richmond, KY 40475-2591
- Car washes
- 2,157 SF
Current Use by Public Records
- Boggs Lane Car Wash / Car Wash
Property Details for 256 Boggs Ln
- Property size
- 2,157 SF
- Property type
- Car washes
- APN
- R11A-0001-0001
- APU
- R11A00010001
Description
This exceptional investment opportunity presents two established car washes in Richmond, KY, located at 256 Boggs Ln and 125 S Keeneland Dr. The portfolio encompasses a total of 8,045 square feet across two buildings situated on 1.94 acres of commercially zoned land. Built in 1997 and 1998, these properties boast high visibility, with over 31,500 vehicles passing daily. Recent upgrades include modernized payment stations accepting coins, bills, and cryptocurrency. Benefiting from a strong location near Eastern Kentucky University (over 12,000 students and 2,500 faculty/staff), major retailers (Walmart, Lowe's, Kroger, etc.), and projected market growth exceeding 2.5% over the next five years, this portfolio offers significant upside potential. The close proximity of the two locations (less than 4 miles apart) allows for efficient management. The absence of a current monthly membership program presents an additional avenue for revenue growth. Furthermore, the properties qualify for bonus depreciation, enhancing investment returns. This fee-simple ownership offers a rare chance to acquire both the buildings, businesses, and underlying real estate, securing a commanding 50% market share in Richmond's limited car wash sector.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Madison
- State
- Kentucky
- Longitude
- -84.2861
- Latitude
- 37.7322
- CBSA code
- 40080
- CBSA name
- RICHMOND-BEREA, KY MICROPOLITAN STATISTICAL AREA
