News: Northern New England

HighBar Property Group and Nexthome Modern Realty represent seller of two car wash facilities

572 U.S. 4 - Enfield, NH

 

1049 North Main Street - White River Junction, VT

 

Enfield, NH and White River Junction, VT HighBar Property Group and Nexthome Modern Realty brokered the sale of car washes at 572 U.S. 4 in Enfield, and 1049 North Main St. in White River Junction.

Sam Obar of HighBar, and Spenser Molloy of Nexthome, exclusively represented the seller in the transaction. Both properties sold to one buyer in an as-is sale of both the business and the real estate including furniture, fixtures, and equipment. The sale price is undisclosed.

The 572 U.S. 4 car wash is 2,460 s/f with three bays, constructed in 2021, and is on 1.2 acres. The 1049 North Main St. car wash is 3,510 s/f with two bays plus an auto repair facility, constructed in 1980, and is on 0.9 acres. Both properties draw from a wide trade area, with potential for the buyer to optimize management and revenue.

“The sale underscores the continued strong demand for car washes and commercial real estate in New Hampshire and Vermont. We were able to leverage the strength of the underlying real estate, along with the substantial value-add opportunity in both of them, to quickly secure a qualified buyer,” Obar said.

“Working with such a motivated and cooperative buyer and seller allowed us to navigate challenges smoothly and close the deal efficiently. The deal speaks to our team’s ability to adapt and drive results in a fast-paced market,” Molloy said.

The transaction is a result of a broader collaboration between HighBar and Nexthome, combining their expertise in both commercial and residential real estate to serve clients in the Upper Valley of New Hampshire and Vermont. HighBar is a commercial real estate firm licensed in nine states including Vermont, New Hampshire, and Massachusetts, specializing in the sale and lease of retail properties including gas stations, car washes, convenience stores, restaurants, and financial institutions; while Nexthome provides industry-leading residential real estate services in New Hampshire and Vermont.

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