DESCRIPTION: The subject’s immediate neighbor is former airport to the north and the airport lands are to be redeveloped by Blatchford Development in Edmonton into mixed used area. Blatchford is 536 acres (that’s roughly the same size as current downtown) in the heart of Edmonton. This site provides good access and good exposure. DETAIL DESCRIPTION OF CAR WASH – 11 wand wash , 2 Auto bay , 1 Detail and 2 Tenants; – 2 Auto bays were installed in January 2019; – The tenant of C Store operates Detail shop and share the profit 50% each which is about $1,500/m; – The tenant of C store works as a staff from 7 AM to 9 AM and works after 6 PM till close with $850/m. – Needs only1 staff for the operation. LEASE DETAIL Lease detail : – Convenience Store & U Haul Tenant ($2,300/m), – Used Car dealer shop ($1,200/m) – Hair salon start from October ( 5 year & 5 year option, 1st year : $1,400/m, 2nd : $1,500, 3rd : $1,600/m) – 1 vacant place will be leased out from October 1st to music recording Company($800/m).
– Needs only 1 person for the operation
SITE AREA: Land :0.74 Acres, Building :12,000Sqft
ZONING: CB-2 General Business Zone
AGE: 2005, Added 2 Auto bay in January 2019
REVENUE: 2020 : $563,498 2019:$560,623
2021 Projection : $653,657
Revenue comparison (2020 & 2021 for 6 months car wash only)
2020 2021 Diff % 2021 Projection
$272,927, $317,452 $44,525 16.31 % $653,657
NOI 2020 : $309,157, 2021 Projection : $358,600
SUMMARY The subject’s immediate neighbour is former airport to the north and the airport lands are to be redeveloped by City of XXXXX into mixed used area.
This site provides good access and good exposure. Once developed the former airport area this car wash will be great asset.