Established Laundromat in Norfolk, Virginia

Norfolk, VA
Norfolk City County

Asking Price: Annual Revenue:
$90,000 $100,000

Services: Dry Cleaning & Laundry

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RE: Established Laundromat in Norfolk, Virginia Broker: Alan Horn

Quick Facts

Asking Price: $90,000
Annual Revenue: $100,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 1989
Employees: 2
BBN Listing #: 759832377
Broker Reference #: HZ457AH

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Business Overview:

Great opportunity to take over an established laundromat located in the Ocean View area of Norfolk, Virginia. The business has been in operation for over 30 years and is situated in a shopping center with a national grocery anchor and many other well-known businesses. The space is just off a main thoroughfare and there is good street visibility with significant pedestrian and vehicle traffic.

The laundromat is an ideal location to cater to both residents and tourists who visit the area for the beaches during the season. One notable differentiating factor of this business is that it utilizes well water for operations and there is no water bill, which is a major cost saver. Don't miss this chance to buy a turn-key laundromat with plenty of opportunity to improve operations, expand services, and grow the business!

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Property Features and Assets:

Large laundromat situated in a bustling retail center just steps from the Chesapeake Bay and nearby a number of other small businesses, hotels, and attractions. The space is 2,000 square feet and leased for $2,900/month. The current lease runs through early 2024.

Market Competition and Expansion:

Competition: There is standard competition for the industry and market. Growth & Expansion: A new owner could grow and expand the business through offering complimentary services like wash 'n fold or by focusing on tailoring and garment repair.

Reason for Selling:

Owner is retiring.

Additional Details:

  • The property is leased.
  • 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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