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Excluding any value the land or improvements may have, what should a person pay for this cash flow & chance for increasing revenues? At this point I'm thinking it would hardly be worth my time even if I paid $0 for it. Seems like a ton of work to try to squeeze out a steady $20 - $40k/year NOI.

They are asking $225,000. Its assessed for over $300,000. The land is maybe worth $150,000, but it would be a long time before anybody paid that to redevelop it.

Given a certain traffic count, nearby population, and competition, is there a rough rule of thumb a person can use to estimate the number of washes to expect per day/month/year?

Some general demographic & competitive data: There are two gas station automatics, one self-serve, and one full-serve car washes in the immediate area that I would say are direct competitors with this one. These four washes are in superior locations with 2x the daily traffic. Aside from drive...

What other info can I provide to help with this analysis?

Site picture. This location gets about 10k VPD. It is a secondary commercial location. The primary traffic artery which is a few blocks away has twice the traffic. The main street has a full service tunnel wash, several gas station automatics, and a self serve wash within a half mile or so.

I am happy to post some demographic info, what should I look at?

Here is a pic of the property. The last traffic count from a few years ago was 10k to 11k VPD. This is a secondary commercial street in the neighborhood. The primary street a couple blocks away has about twice the traffic. This better street has a tunnel wash nearby, as well as several gas...

I am looking at a bank owned wash built in the late 80s. 4 self serve bays, 2 automatic bays. Last year financials as follows: https://docs.google.com/spreadsheet/ccc?key=0AqZzDavW-lJVdEh5dFNSQzk5aDZBaWgyUkRoZURLUHc&usp=sharing Obviously this is not very attractive as-is. Just wondering if...