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This Business has been Sold!
Closing Date: 09/17/2018
Broker: Jay Goldman

Business for Sale Summary

Laundromat and Dry Cleaners in New York County, NY - 29157

Business Type: dry cleaning/ laundry services,absentee business,best deals!,new to market,laundromats
Sold
Laundromat and Dry Cleaners in New York County, NY
On September 17th 2018, The Undersigned
Acted as the Advisor to the Deal
Jay Goldman
Jay Goldman Senior Broker
Servicing: Bronx County NY, Kings County NY, Nassau County NY, New York County NY, Queens County NY, Westchester County NY, CT, NJ
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.

Financial Information (non-confidential)

General Information
Asking Price $359,000 Down Payment $359,000
Gross Revenues $345,084 Lease Remaining Register Free to View
Owner’s Cash Flow $102,588 Number of FT Employees Register Free to View

Financing

$359,000 Down and Please make your best all down offer!

Business Description

This absentee-run, coin-operated laundromat and drop-off dry cleaners is located in a safe downtown Manhattan neighborhood. This is a steal, at just 3.5 times what the seller puts in his pocket. There are 10 years left on the lease for 1,000 square feet. Rent starts out at just $3,662K/month (inclusive of real estate tax) and escalates at 4%, annually. The washers and dryers have been in use for less than 2 years. They consists of 16 IPSO Washers (1 - 75 lbs., 2 - 55 lbs., 2 - 40 lbs., 2 - 30 lbs., and 9 - 18 lbs.) and 16 double-stacked ADC dryers. This laundromat is still coming into its own, so there is plenty of upside left for you, especially from the pick up, delivery and drop-off of wash and fold, and dry cleaning. As the neighborhood continues to gentrify, more of its residents will be able to afford these premium services. Currently, coin self-service accounts for 45% of sales, wash and fold- 39%, drop-off dry cleaning- 11%, and soap sales- 5%. Three full-time employees share wash and fold responsibilities, and keep an eye on things for the owner. Should you decide to be more hands-on, you can make more money by saving on some payroll. Open 7am - midnight, 7 days/week. Do be very discreet when visiting the location, as the employees and customers do not know it's 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 the broker for further information at 1-877-735-5224.

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. kg

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.