Business Overview:
It may be possible for a qualified buyer to assume the $660,000 equipment loan, leaving the down payment $255,000, plus closing costs, utility deposits, etc. This huge, gorgeous Laundromat has large front loaders and could market bundle service more heavily, especially for large blankets and comforters, hotel towels, sheets, etc. This deal is not for the faint of heart; it will take some significant marketing and outside the box thinking to a profitable Company it needs to be. Needs energetic experienced owner-operator who excels in administration and marketing. 9 employees; business hours 7a-11p, 7days. Real Estate is available in addition to the business. This offering is structured as an asset sale. This is neither an offer nor a solicitation to sell securities.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
13,300 square feet.; monthly rent of $13,300 is base plus nnn. Lease expiration is negotiable. Surrounded by apartments and low income housing, off of a major street. FFE includes leasehold improvements at original cost. Mega Laundromat with state of the art equipment, Hi Def TV's, free WiFi, small cafe. From seller's perspective, this is an equipment sale at a discounted price. At this point, this coin laundry is ripe for turnaround.
Market Competition and Expansion:
Four main competitors in the area. Vend pricing is very competitive for the area.
Growth and Expansion: Needs owner-operator full time. He has too many employees. One may want to convert the Cafe into a National Franchise and could possibly use that space for a convenience store, check cashing, consignment store, etc. The Laundromat does no marketing now.
Reason for Selling:
Absentee Owner
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.