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Laundromat - No Rent increase 13 years

Essex County, New Jersey

Asking Price: Gross: Cash Flow:
$600,000 $360,000 $194,947

Furniture and Fixtures Value:
$390,000 (included in the asking price)

Inventory Value:
$1,000 ( not included in the asking price)

Business Summary:
Every so often the best in their field become available, when it comes on the sale block with a fantastic lease this business has to sell fast (This will not last long). World class Laundromat – rent remains the same for time of lease – 13 ½ years with no increase in rent – 83 machines – 41 washers 8-18 lb. top loaders – 20-31 lb./12-50 lb./1-80 lb. – 42 double stacked standard dryers. Speed queens and Heubhs range from 2 years to 11 years old. (NO WATER BILL INCLUDED IN LEASE). Located in mall with 11 car parking, plus ample street parking. All vending, soda/snack/soap dispensers owned – Laundromat has loads of other equipment hot water boiler TV/chairs/tables – 2 coin dispensers. Interior is very attractive tile on tile – biggest Laundromat in area – exterior of Laundromat is all windows facing mall how can a serious Laundromat buyer pass up a business with no rent increase for 13 ½ years? Place is always busy located in commercial area with major bank and area’s largest clothing store located across street. For further information, please contact 908-851-9040.

 
   
   
Year Business was Established: 1998
   
Number of Employees: 3  
   
Facilities / Terms of Lease: 3,000 sq. ft. facility in mall with 11 car parking plus street parking best lease owner can receive no increase in rent for next 13 ½ years all machines well maintained – interior is real tile on tile. No Water Bills!!  
   
Potential Growth/Expansion: Getting more wash and fold contract business with delivery  
   
Competition: This is the biggest busiest and most sought after Laundromat in area  
   
Owner willing to finance: Owner wants all cash  
   
Owner willing to train: Two weeks  
   
Reason for selling: Owner going into a much larger business in a different field  
 

 

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