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Business for Sale Summary

High Volume Laundromat In Metro Area - 35792

Business Type: absentee business,misc. retail/non-classifiable,misc. service/non-classifiable,other business services,other personal services,owner financing available,laundromats
Owner Financing
High Volume Laundromat In Metro Area
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Financial Information (non-confidential)

General Information
Asking Price $3,200,000 Down Payment $2,880,000
Gross Revenues $1,500,000 Lease Remaining Register Free to View
Owner’s Cash Flow $480,000 Number of FT Employees Register Free to View

Financing

$2,880,000 Down and $320K over 3yrs. @ prime.

Business Description

High Volume Laundromat in densely populated Queens neighborhood. This is a very unique deal. First off, the facility is a spacious 4,000 sf., stand-alone building with 68 washers and 68 dryers, only 3 yrs. old. The equipment alone is worth $1mil. There is a private parking lot for the businesses and it can operate 24/7, 365 days per year. The rent, including real estate tax, is $16K/mth. with 9 years left on the current lease. The lease can be extended for a well-qualified buyer. The current business is not open to the public. The seller will enter into a service agreement with a new owner for its commercial laundry volume as long as all service requirements are met. This translates into $1.3 mil. in annual commercial business with no marketing effort and a process that's already established. They just opened the self service and the annualized sales is about $50K. Based on the last year volume and price per pound and the drop off wash and fold business a buyer can expect approx. $1,500,000.00 with a net income of approx. $480,000.00. We are seeking a serious and financially qualified buyer with at least $2.9 mil. in liquid funds to cover the down payment. The ideal buyer would be familiar with the industry, but any serious and financially qualified buyer is welcome to inquire. Proof of funds will be requested before any site visits, buyer/seller calls or meetings. All meetings must be made by appointment only! To learn more please contact the broker Mel Vaz at 631-909-1095.

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Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.