Updated about 1 year ago on . Most recent reply
New to real estate investing, contemplating carwash/storage property.
The property has four self-serve bays and one automatic. There are 51 storage units on the same property. Carwash income in reportedly 11,900 monthly. All storage units are rented and monthly income is 2,225. Seller reports NOI: 108,101, Gross carwash income: 149,546, Cap Rate: 11.5%. I've not invested in real estate before so I don't know what financing would look like for this endeavor. I'm open to any feedback or ideas on this.