thecasino5
Member
- Joined
- Apr 27, 2022
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So not necessarily. So the company who owns the gas station currently opened a new spot right above on the same street (literally 30second walk) so I am guessing reason for closing is they finally bought their own piece of land and have a brand new spot right above and it would be a waste to keep the old run down one if the new one is open and is getting more of the business (plus they do not need to pay a lease anymore). In regards to location it is prime with I would say everyone who lives on this side of the island will pass by there at least once and it is literally right in front of a 3 way traffic light intersection (also in the middle of like 5 different condo complexes. The only other competition in my area is a 75 foot tunnel. There are no SS bays here, no IBA machines, no touchless machines, there is only that 75 foot tunnel. I just thought it would be a good investment because of its location and the lack of competition. The reason for the car wash not operating for nearly two years is the store owners just lacked to do maintenance on it and did not want to invest more money into it as they are a large gasoline company here in Hawaii. And also the laundromat idea is just an idea and not something I am actively pursuing but just sort of a future plan if the car wash does well and is able to pay for the laundromats opening.So you're looking to lease a single IBA(that's been non-working for 2 years) that is attached to a gas station that is failing due to better competition (and expected to close soon), invest at least $150K in a new machine, and then at least another couple hundred grand into converting said failed gas station into a laundry mat, all on property you don't own? If I'm missing something here let me know but I can't see how this is even remotely a good idea unless you have a LOT of cash burning a hole in your pocket and you need need a lot of loss write offs on your taxes.
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