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Orange car wash fetches $1.75M
Costar
79 Boston Post Road, Orange.
A car wash facility on the Boston Post Road in Orange has been sold for more than $1.7 million.
The buyer, 79 BPR Orange LLC, purchased the facility at 79 Boston Post Road for $1.75 million from R&E Realty Associates Limited Partnership in a deal recorded Aug. 11.
The new ownership is controlled by Adam Scheps, who is listed as general manager of the Sponge Brothers Car Wash and Lube company.
Car wash facilities have become a target of private equity firms that see them as a solid investment because they are often high-cash-flow operations with real estate and repeat customers.
Built in 1978, the 8,100-square-foot facility has an appraised value of $1.28 million.
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This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
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Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
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2023 Book of Lists
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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