Landromat & Income Property - Price Reduced!

Not Disclosed, MA
Bristol County

Asking Price: Annual Revenue:
$595,000 $220,000

Services: Dry Cleaning & Laundry

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RE: Landromat & Income Property - Price Reduced! Broker: Buddy Carp

Quick Facts

Asking Price: $595,000
Annual Revenue: $220,000
Net Profit: Not Disclosed
Cash Flow: $87,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $698,000
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 50645383
Broker Reference #: Not Disclosed

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Business Overview:

Opportunity to purchase a busy laundromat with a mixed-use commercial/residential investment property. Business has been at the same location with the same owner for over 30 years and has a steady flow of customers. Laundromat equipment includes: 30 dryers, 33 washers, 2 change machines and more! The investment property consists of six rent-able units. There are two commercial spaces, Three 2-bedroom apartments and one 1-bedroom apartment. All spaces are currently rented. Property also includes 20+ car parking lot with two revenue generating, outdoor coin-operated vacuum cleaners. The property alone is valued at $698,000 based on current rents and an 8% market cap. We are selling both the property and the laundromat for $595,000!

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Market Competition and Expansion:

Property rents are below market rate and can be adjusted by new owners. Five of the six tenants are tenants at will. Multiple opportunities to grow the laundromat. Current owner does not advertise. New owner could offer coupons and specials to attract new customers, mailers to nearby residents and offer punch cards (free wash after so many visits). Also arcade games, Beer & Wine license (if available from the town), lottery (if approved by the state), coffee sales and more.

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.

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