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

Financing: $359,000.00 Down and Please make your best all down offer!

Reason for Selling:Dissolution of partnership

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