2337 Washington Rd
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2337 Washington Rd
3,600 SF Specialty Building Offered at $165,000 in Washington, IL 61571
Investment Highlights
- Bank owned property
- Equipment condition unknown
- No Power
- Enterprise Zone: The property is situated in the Northern Tazewell County Enterprise Zone
Executive Summary
CLOSED--NOT CURRENTLY OPERATING self-service car wash with four (4) self-service bays and one (1) automatic wash, with two (2) vacuum cleaner systems that have been removed. It sits at the corner of Washington Road/IL-8, a main thoroughfare and a residential street, Briargate Road. There is one curb cut, ingress/egress point on Washington Road/IL-8 and two separate points of ingress and egress on Briargate Road.
When operating, the property had Gross Revenue of $105,000 and Net Income of $35,000.
The owner has closed off one of the units for storage. Each garage is approximately 450 sq.ft. and could be rented out as separate storage spaces. The entire property could be redeveloped for other commercial use.
Special Tax Advantage – Accelerated Depreciation – Car washes present accelerated depreciation opportunities for tax savings. Under IRS Code Sections 179 & 168(k), these types of properties can qualify for business expense deductions up to 60 percent of the cost and bonus depreciation in the first year (2024). Contact your accountant for more information.
When operating, the property had Gross Revenue of $105,000 and Net Income of $35,000.
The owner has closed off one of the units for storage. Each garage is approximately 450 sq.ft. and could be rented out as separate storage spaces. The entire property could be redeveloped for other commercial use.
Special Tax Advantage – Accelerated Depreciation – Car washes present accelerated depreciation opportunities for tax savings. Under IRS Code Sections 179 & 168(k), these types of properties can qualify for business expense deductions up to 60 percent of the cost and bonus depreciation in the first year (2024). Contact your accountant for more information.
Property Facts
| Price | $165,000 | Lot Size | 0.57 AC |
| Price Per SF | $46 | Building Size | 3,600 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 1965/2018 |
| Price | $165,000 |
| Price Per SF | $46 |
| Sale Type | Investment or Owner User |
| Property Type | Specialty |
| Lot Size | 0.57 AC |
| Building Size | 3,600 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2018 |
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2337 Washington Rd
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