Help underwriting a laundromat/car wash?

[Craig Garrow]

I had an interesting opportunity come across my desk. There’s a small commercial property located in the next town over, that houses a small laundromat, a single bay car wash, and has an apartment above that. I get the gist that it can be bought “right.”

I’m waiting on P&L’s from the listing broker, but what else should I be looking for? I have done apartments and self storage, so this is a little outside my core competencies, but if the price is right, I’d like to investigate it more.

Thank you in advance!