Laundromat in Richmond County, NY - 27965

Not Disclosed, NY
Richmond County


Asking Price: Annual Revenue:
$549,000 $310,000

Services: Dry Cleaning & Laundry


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RE: Laundromat in Richmond County, NY - 27965 Broker: Jay Goldman
Owner Financing is Available!
$449,000.00 Down & The seller will finance $100,000.00 at 6% over 24 months.

Quick Facts

Asking Price: $549,000
Annual Revenue: $310,000
Net Profit: Not Disclosed
Cash Flow: $162,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 40
Employees: 3
BBN Listing #: 55184447
Broker Reference #: 27965

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Business Overview:

Established in 1978, this absentee-run, modernized, clean and spacious laundromat, located in Staten Island, has had just one owner for the past 13 years. His landlord stands ready to give you a brand new 10 year lease, with a 5-year option, starting at just $3,600/month. There is 1,500 square feet, inside, and a parking lot with 60 spaces. The 20 washers and 20 dryers are only about a year old, and are all ultra- efficient on energy and water. The washers consist of one 80 lbs. load Wascomat, three 60 lbs. ADCs, seven 45 lbs. ADCs, and nine 25 lbs. ADCs. The dryers are all 45 lbs.double-stacked ADCs. Wash and fold accounts for 60% of gross, and coin self-service, 40%. This is an all-cash business whose financial representations can be verified. You may be able to increase your sales by accepting credit cards and by promoting the availability of pick-up and delivery of wash & fold and drop-off dry cleaning. You can put more money in your pocket, should you choose to be more hands-on by eliminating one or more employee salaries. Lastly, you would be well-advised to generally do more advertising, both traditional and social media, to draw more business to this location. It certainly can handle it! Please be prepared to make your best offer, as this one is going to move quickly, given the owner is asking less than 3.5 times what he profits and is willing to offer some seller financing. The equipment is almost brand new and the laundromat comes with a long lease and very reasonable base rent. Do be very discreet when visiting the location, as the employees and customers do not know it is for sale. Kindly then contact listing broker Jay Goldman, should you have any questions and would like to make an appointment to meet with the owner. Please contact us for further information.

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Reason for Selling:

Other

Additional Details:

  • The property is owned.
  • The owner is not 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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