Wahoo’s Express Car Wash Business & Real Estate

Investment Overview

Alpha Real Estate Advisors presents Wahoo’s Express Car Wash in Panama City, FL—an operating business and fee simple real estate offered together at $3.5 million, approximately 56% of the seller-reported $6.3 million facility cost. Opened in June 2025, the ±1.12-acre property features a 140-foot Motor City wash tunnel, 19 Eurovac vacuums, and two Micrologic pay stations. Its corner location along W 23rd Street benefits from nearby traffic counts reaching 41,476 vehicles daily. Unlimited wash memberships provide recurring revenue, with growth opportunities through expanded fleet accounts, fundraising programs, and membership sales.

Investment Highlights

• Priced well below replacement cost. Offered at $3,500,000 against a reported facility cost of about $6.3 million — roughly 56% of cost. A buyer avoids today's land prices, construction costs and long approval timelines for a new express tunnel.
• Business and real estate together. Fee simple ownership means no landlord, no rent increases and no lease expiring — the buyer keeps both the wash's cash flow and the long-term value of the property.
• Several ways to grow. Fleet and fundraising programs are already in place and can be expanded with local businesses, government and military fleets, contractors, schools and nonprofits. Potential to add a fleet service program with Gulf Coast State College, located only 1.2 miles west of the car wash off W 23rd St. As a single-site independent, the wash also fits as an add-on for a regional chain or an entry point into the Panhandle.
• Corner of a high-traffic corridor. W 23rd Street counts range from 32,785 to 41,476 vehicles per day within about half a mile of the site (CoStar, 2026).
• Car spending is the #2 household category. Transportation & maintenance is the second-largest consumer spending category at every radius — $216.2 million a year within 5 miles, behind only food & alcohol.
• One of the fastest-growing metros in the U.S. The Census Bureau ranked Panama City–Panama City Beach #2 nationally for percent population growth (3.8%, July 2023–July 2024).
• Tyndall AFB's ±$5 billion rebuild. The base is being rebuilt as the Air Force's 'Installation of the Future' and will host three F-35A squadrons (78 aircraft), with work expected to finish around 2027.