Marcus & Millichap : Brokers the Sale of an Express Car Wash in Orlando for $5.2 Million
June 08, 2022 at 03:32 pm EDT
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ORLANDO, Fla., June 6, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the Bucket of Sudz Express Car Wash, a 0.92-acre car wash located in Orlando, Florida according, to Justin W. West, first vice president and regional manager of the firm's Orlando office. The property sold for $5.2 million.
"This acquisition was a strategic play for the buyer, who is very active in the local market," said Salim Valiani, senior associate in the Marcus & Millichap's Orlando office.
Valiani and Mark Leitter had the exclusive listing to market the property on behalf of the seller, an individual car wash operator. The buyer, also an individual car wash operator, was also procured by Valiani and Leitter.
The Bucket of Sudz Express Car Wash is located at 12491 S Orange Blossom Trail, as an outparcel to a bustling plaza tenanted by Aldi, Ross Dress for Less, DD's Discounts, Planet Fitness, Subway, Wingstop, Touchstar Cinemas - Southchase 7, and many others. The owner-operated car wash, built in 2008 and renovated in 2018, features a drive-thru express tunnel car wash in the highly developed, high traffic US Highway 441 retail corridor in Orlando.
"The market has heated up considerably for these express-tunnel car wash locations over the past year or two leading to trades at record EBITDA multiples," added Leitter, associate in the Marcus & Millichap's Orlando office.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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Marcus & Millichap Inc. published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2022 19:31:10 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
