Trying to sell 2 coin operated car washes in Columbia SC w/ land

[Tanner Forster]

I have 2 positive cash flowing self service car washes with outstanding commercial real estate for sale in the Lexington and Ballentine areas of Columbia, South Carolina. They are both in commercially anchored areas with surrounding large retailers, grocers, restaurants, etc. Both have great road exposure and frequent traffic. They are easy to manage remotely and I can help someone with the transition.  But, they require boots on the ground at least once a week to check on things and collect cash.   Both locations are bringing in roughly 80K per year combined, but could be commercially developed as the land is highly valuable in two rapidly growing areas. The possibilities are endless.. I prefer to sell both together.  Job move forces the sale. I'm asking $399K for both locations together with land.  My question for my fellow BP members is, should I sell them as businesses as they are cash flowing, or simply as commercial property?  What are the pros and con's of either way?   Also, Is this something that a buyer could possibly 1031 exchange  into ?  Open to all feedback.  Thanks very much!

Ballentine Location: .20 Acres 

Lexington Location: .24 Acres

Thanks,

Tanner Forster

[Dave Foster]

@Tanner Forster,  Those would make excellent 1031 replacement properties - or for you to 1031 out of.  The real estate and structure would be available to 1031 into any other type of investment real estate.  The FF&E would only be available to exchange for other similar equipment.  You and your account and the buyer and their accountants can hammer out the relative value ratio between Real estate and FF&E.