Laundromat with S Rental Apt.
Essex Co., New Jersey
| Asking Price: |
Gross: |
Cash Flow: |
| $1,000,000 |
$171,800 |
$46,000 |
Inventory Value:
$600 ( not included in the asking price)
Real Estate:
$750,000 (included in the asking price)
Business Summary:
9,000 sq ft. site, 2,000 sq ft. Laundromat plus 5 rental units, Building appraises $700,000 rental income $67,8000 ($46,000 cash flow) after Expenses & Taxes. Equipment 2 yrs old, Maytag 3yr warranty left 9 DBL Stacked dryers (18) washers 10(18lbs) 7(30lbs) 4(50lbs) Complete Monitoring system 8 cameras in building. Bill to Bill card system, 2 TV’s, 5 scales plus all equipment. Building is 3 floors, completely rebuild 4yrs ago has 1 apt 1st floor 900 rent 2nd floor (2)1,000 +1,250, 3rd floor 1,000 + 1,500 rent all tenants responsible for heat, hot water, electricity, and gas. Last rental increase 2 yrs ago approved for state section 8 all expenses all apartments contain own heat box , boilers wall hung 12,000 taxes. Building in excellent shape has wide alley in back DVR security system around perimeters of building and thru hallways. Wash +Fold only 5% of business.
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| Year
Business was Established: 1993 |
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| Number of Employees:
2 |
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| Facilities / Terms of Lease:
3 story + 9,000 sq. ft.; newly reconstructed building (4 years) 2,000 sq. ft. Laundromat and 5 rental apartments with 10 feet back, driveway. Street parking has full basement. |
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| Potential
Growth/Expansion:
No advertising/no promotion doesn’t even promote wash and fold although he has attendants to tend to this task. |
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| Competition:
Two other Laundromats in area all the same size. This has newest equipment and less expensive prices. |
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| Owner
willing to finance:
Owner will grant to qualified buyer 200,000 in financing at negotiable rate of interest and length of time. |
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| Owner
willing to train:
two weeks. |
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| Reason for selling:
Absentee owner in development has to sell off assets. |
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| REQUEST MORE INFO |
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