South Metro Laundromat for sale with Real Estate

Not Disclosed, MN
Dakota County


Asking Price: Annual Revenue:
$699,000 $193,000

Services: Dry Cleaning & Laundry


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RE: South Metro Laundromat for sale with Real Estate Broker: Mac Thelen
Owner Financing is Available!
Seller will finance a portion of the sale.

Quick Facts

Asking Price: $699,000
Annual Revenue: $193,000
Net Profit: Not Disclosed
Cash Flow: $170,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $690,000
Year Established: 2001
Employees: 2
BBN Listing #: 124640231
Broker Reference #: 8050mt

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Business Overview:

This listing is an established Laundromat just south of the Twin Cities 17 years ago. The current owner acquired the Laundromat in 2009 and has increased sales by keeping a clean, well-maintained store with updated machines and a loyal customer base. There is also a wash and fold segment of the business which can be greatly expanded within the capacity of the existing infrastructure. Dry cleaning service is outsourced and provides additional income. The seller also owns the building and has a stable tenant under contract through April of 2020. The building is for sale with the business which provides many advantages over leasing with laundromat ownership. There are 43 washers, of which 18 large are large capacity. There are 30 stack dryers and 4 newer 75# dryers. Many of the machines are less than 3 years old, and others less than 5 years old. All equipment is meticulously maintained, as is the building. A new roof was installed 7 years ago and a new boiler installed 3 years ago.

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Property Features and Assets:

The business operates in 3,200 square feet of a 6,200 square foot building owned by the seller. There is ample parking, lighting, and an updated security system. There is a tenant who pays the seller $2,650 gross per month in rent on a triple net lease. The Real Estate is for sale for a price of $690,000.

Market Competition and Expansion:

This Laundromat is the only one in the area and has a loyal customer base. The wash and fold could be expanded by soliciting additional commercial accounts.

Reason for Selling:

Retirement

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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