Valbridge values both existing and proposed car washes throughout Kansas and Missouri! In an effort to end the cycle of little-to-no information when researching for these properties, we've compiled a list of things you need to know when appraising car washes! Specialization: One thing many people need to understand before researching car washes is that they are a specialized property and built for single-use. Often, normal appraising rules don't apply. Capture Rates: Some people have no idea capture rates for proposed car washes even exist! These are the percentage of washes by the property that are captured from the cars passing by daily. Challenges of a Proposed Facility: When researching, appraisers have to keep in mind that there are different challenges when appraising a proposed facility, as opposed to an existing one. On top of that, car washes themselves come with their own set of challenges. Types of Car Washes: Within this property there are many different types; self-serve, full service, hybrid, exterior-only, conveyor, and many more! Operating Expenses: A lesser known fact: operating expenses for a car wash are based on a percentage of total income. Cost Approach: For a car wash, the cost approach excludes the business and intangible value. What have you seen that's unique to car wash valuation? Let us know in the comments below! Valbridge appraiser, Garrett Connolly, was a chief contributor for this blog post. Garrett has been with Valbridge Property Advisors since 2015 and is a graduate of the University of Missouri with a degree in business finance.
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