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Business for Sale Summary

Laundromat & Drop-Off Dry Cleaners on the UWS - 29165

Business Type: dry cleaning/ laundry services,absentee business,best deals!,new to market,laundromats
Laundromat & Drop-Off Dry Cleaners on the UWS
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This business has received 380 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $349,000 Down Payment $349,000
Gross Revenues $491,484 Lease Remaining Register Free to View
Owner’s Cash Flow $136,404 Number of FT Employees Register Free to View

Financing

$349,000 Down and Make your best all-down offer!

Business Description

This Established, 1,200 sq. ft. Absentee-Run Coin-Operated Laundromat and Drop-Off Dry Cleaners located in a Safe UWS Manhattan Neighborhood can now be purchased for just 2.5 times what the owner annually pockets. There are 10 years left on the lease and the rent escalates at just 3%, annually. The equipment is middle-aged and well-maintained. It consists of 5 IPSO Washers (2 - 55 lbs. and 3 - 40 lbs.), 13 Huebsch Washers (2 large and 11 smaller), and 16 double-stacked ADC Dryers. Coin self-service accounts for 35% of sales, wash & fold, 53%, drop-off dry cleaning, 9%, and soap sales, 3%. Four F/T 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. It is rare to find a well-established laundromat like this in Manhattan with 10 years left on the lease, asking just 2.5 times what the owner pockets. Open 7am - midnight, 7 days/week. Do be very discreet when visiting the location, as the employees and customers do not know it is for sale. Kindly then contact listing broker Jay Goldman, should you have any questions, and would like to make an appointment to speak with the owner. Please call 1-877-735-5224 for further information.

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.