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$ 1,600,000
Est. payment /mo
Pending
2740 State Route 160 Highland, IL 62249
0.5 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
Subdivision Maurice & Karen Korte 1St Sub
MLS Listing ID 26068361
Year Built 2007
Annual Tax Amount $10,228
Lot Size 0.500 Acres
Acres 0.5
Property Description
EXCEPTIONAL COMMERCIAL INVESTMENT OPPORTUNITY — Two-location self-service car wash portfolio offered at $1,600,000 in Highland, Madison County, Illinois. Splish Splash Auto Bath features 15 total wash bays across two fully operational, turnkey facilities: 134 Wood Crest Drive (9 self-service bays + 1 touchless automatic wash, 5,292 SF, built 2018) and 2740 State Route 160 (4 self-service bays + 1 touchless automatic wash, 3,012 SF, built 2007). Combined 8,304 SF of brick masonry construction on 0.78 total acres with public water and sewer — buyer acquires fee simple ownership of all real estate, equipment, and business. Both locations are fully operational with an established customer base and immediate day-one cash flow. THREE YEARS OF IRS-VERIFIED FINANCIALS AVAILABLE: 2025 gross revenue $358,789 — highest year on record — with an adjusted net operating income of $187,976, reflecting an exceptional 11.75% cap rate at the asking price. Three-year average adjusted NOI of $147,742 (2023–2025) supports a 9.23% cap rate. 2026 year-to-date revenue through July 31 is $221,643, annualizing at $379,959 and tracking in line with 2025's record performance. The self-service model runs largely unattended with minimal staffing requirements, strong equipment depreciation benefits, and consistent year-round demand. Properties are 1031 exchange eligible.
Location
State IL
County Madison
Interior
Fireplace N
Exterior
View Y/N No
Building
Structure Type Block
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Darin Revermann • Real Broker LLC