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711 Saybrook Rd, Middletown, CT, 06457

Reflections Car Wash
$700,000

Key Information

Cap Rate
12.89%
$ per SF
$225
Tot. SF
3,100
Lot Size
0.5 Acres
Year Built
2005
Type
Retail
NOI
$90,191

Highlights

  • Prime Location: The property is positioned on a hard corner with clearly defined ingress and egress, providing strong visibility and convenient access from multiple directions. The parcel is approximately half an acre, offering additional flexibility for future expansion or site enhancements. Saybrook Road carries ±8,300 vehicles per day, delivering consistent daily traffic exposure and reinforcing the strength of the location.
  • Growing Trade Area: Middletown continues to experience steady commercial and residential growth. Recent residential developments and new commercial construction have increased population density and overall consumer activity in the area. The site’s placement within a well-trafficked plaza further enhances its appeal, as the surrounding businesses drive consistent cross-traffic. Several tenants within the plaza have historically endorsed Reflections as the top car wash in town, underscoring its strong local reputation and brand equity.
  • Significant Value-Add Potential: There are multiple avenues for a new owner to unlock additional upside. The large bay on the far right has the potential to be converted into an automatic wash system (touchless or friction), which could materially increase throughput and revenue. Additionally, there is currently no membership program in place; implementing an unlimited wash subscription model would create recurring revenue and capitalize on the site’s loyal customer base. Notably, the property has operated for 21 years without on-site employees or management, presenting further operational and scalability opportunities for an engaged owner-operator.
  • Modern Equipment: Automatic Bay: Belanger Saber, 2 Arm Touchless (January 2015 Installation) | Self-Serve Bays: Installation by Arcadian Services with traditional CAT 310 Pumps with numerous options for customers (October 2005 Installation).
  • Strong Financials: 2024 NOI of $91,522 and 2025 projected NOI of $89,261, with a list price of $700,000 and EBITDA of $89,261.
  • Established Operation: The property has operated for 21 years without on-site employees or management, offering a proven business model and operational efficiency.
  • Traffic Exposure: Saybrook Road carries approximately 8,300 vehicles per day, providing consistent daily exposure for the business.
  • Demographic Strength: 3-mile population of 28,479 and median household income of $104,917, supporting strong customer demand.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # REB.0790986 (CT)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203