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Business for Sale Summary

Laundromat/Drop Off Service Business Assets in NY - 36098

Business Type: assets only sale,dry cleaning/ laundry services,illness forces sale!,misc. service/non-classifiable,other personal services,laundromats
Laundromat/Drop Off Service Business Assets in NY
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Financial Information (non-confidential)

General Information
Asking Price $650,000 Down Payment $650,000
Gross Revenues $450,000 Lease Remaining Register Free to View
Owner’s Cash Flow $0 Number of FT Employees Register Free to View

Financing

$650,000 Down and

Business Description

Urgent Asset Sale: Mega Laundromat in Distress. Due to health and partnership issues, we are urgently selling a sizable carded (non-coin) laundromat spanning 5,000 square feet. The facility features 56 Speed Queen washers and 60 dryers, including two 80lb washers, six 60lb washers, twelve 40lb washers, sixteen 30lb washers, and twelve 20lb washers. This laundromat boasts a fantastic main road location. It includes amenities such as five vending machines (including an ATM), three gaming machines generating $300-400 monthly, as well as one snack and one beverage machine. With seven years remaining on the lease, the landlord is willing to extend for an additional eight years, providing a total of 15 years. The monthly rent stands at $16,000, with free parking available both in front and at the rear of the premises. Before facing partnership and health challenges, the laundromat enjoyed numerous large commercial accounts, resulting in significantly higher gross sales. A new buyer could easily expand services to include drop-off dry cleaning and pick-up/delivery. The current owner is undergoing rehabilitation, and their family is seeking an expedited "as is" asset sale from an experienced laundry buyer. The laundromat was purchased for $2 million seven years ago, and it now requires new management under a dedicated full-time owner-operator to restore sales to over $1 million annually. The distressed sale price is set at $650,000. Gas expenses average $2,500-$3,000 per month, electricity costs range from $2,200 to $2,600 monthly, and water expenses amount to $10,000 per quarter. Tax returns reflect gross sales of $435,000. This sale is necessitated by the seller's incapacity. Prospective buyers must demonstrate proof of funds totaling at least $750,000 and possess a background in the laundry industry for a meeting. Expect limited due diligence and a swift closing for this heavily discounted laundromat. For further information, please contact broker Joseph Stansky at 631-383-3109.

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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.