Environmental history is the biggest unknown
Pull every record you can find. Decades of fluid drainage, battery storage, and unbonded vehicle dismantling leave soil and groundwater contamination on most older yards. Get a Phase I environmental assessment minimum, and budget for a Phase II if anything in the records suggests releases. Even clean Phase Is don't eliminate liability, buying the entity (stock purchase) inherits all historical environmental exposure regardless of what the records show. Asset purchases with proper indemnities are safer; site-specific environmental insurance is sometimes worth the cost.