South Minneapolis Laundromat for Sale

Minneapolis, MN
Hennepin County


Asking Price: Annual Revenue:
$160,000 $144,000

Services: Dry Cleaning & Laundry


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RE: South Minneapolis Laundromat for Sale Broker: Mac Thelen
Owner Financing is Available!
Seller will finance a portion of the sale.

Quick Facts

Asking Price: $160,000
Annual Revenue: $144,000
Net Profit: $32,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 1980
Employees: 2
BBN Listing #: 987440231
Broker Reference #: 8094mt

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Business Overview:

This listing is South Minneapolis Laundromat established for over 40 years. The current owner has kept a clean, well-maintained, and attended store with updated machines and a loyal customer base. There are 14 double-stack dryers as well as 3 single 50lb dryers. There are 29 washers, of which 20 are large capacity. Also included are 3 tanning beds. The laundromat is near a high volume specialty store that attracts a high amount of foot traffic. There is very little competition in the area.

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Property Features and Assets:

The business operates in 3,700 square feet. There is ample parking, lighting, and a security system. Rent is $5,657 and the lease expires in 2025. The Laundromat is staffed 7am -10pm.

Market Competition and Expansion:

The barrier of entry for competition is high with the cost of buildout, equipment, and SWAC fees. The seller estimates a rebuild of the store would cost over $600,000. Growth & Expansion:A dry cleaning kiosk could be added to increase traffic and create additional income.

Reason for Selling:

Retirement

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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