Modern Commercial Laundromat

Not Disclosed, NJ
Middlesex County


Asking Price: Annual Revenue:
$320,000 $142,800

Services: Dry Cleaning & Laundry


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RE: Modern Commercial Laundromat Broker: Ron Cervelli
Owner Financing is Available!
Seller may consider financing.

Quick Facts

Asking Price: $320,000
Annual Revenue: $142,800
Net Profit: Not Disclosed
Cash Flow: $54,455
Total Debt: Not Disclosed
FF&E: $230,000
Real Estate: Not Disclosed
Year Established: 2014
Employees: 2
BBN Listing #: 69573909
Broker Reference #: LAUN292

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Business Overview:

Owner is now retiring from this modern upgraded commercial laundromat located in a convenient area of Middlesex County New Jersey. This business is in an active commercial mall on a four-lane county road with many other successful businesses. The business has been upgraded within the past five years, with new washers and dryers including upgraded infrastructure, central air, boiler, etc. at a substantial cost to the present owner. The business consist of 2 employees, averages sixty hours weekly, who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is unaware of the pending sale & fully expected to remain post-closing, and the monthly payroll expense is approximately $2,000. This transaction will offer an assignable commercial lease which expires 2024, plus additional options available, with a monthly rent of $3,140, cost per square foot is estimated at $20.93 and rent security of approximately $7,500. The 2018 yearly gross income represented by the seller/owner is $142,800 and the business has a yearly net income of approximately $54,455 based on an absentee owner, which includes any seller discretionary income and prior to any debt service. The 2019 company’s gross income is expected to be similar to the previous year. Due to various reasons and possible seller discretionary income, a formal due diligence is recommended. This appears to be a dependable & safe business opportunity. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

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Property Features and Assets:

This retail facility consists of approximately 1,800 square feet and has a professional appearance. The laundromat is located in a mid-size commercial mall with six other retail businesses. This opportunity is in Northern New Jersey, Middlesex County, consisting of numerous highly populated communities with continued demand for this personal industry.

Market Competition and Expansion:

To the best of our knowledge, due to various circumstances, and the difficulty of obtaining a new certificate of occupancy for a new laundromat, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser. This business opportunity can be further expanded with a new owner by instituting a marketing plan, web site, and a local advertising plan. Presently the business does approximately 25% of wash and fold which can be substantially increased. This laundromat does not have a web site, limited wash & fold production and if adjusted can further develop the business yearly gross sales.

Reason for Selling:

The sale is due to the owners absenteeism.

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.

Documents:

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