Heavy Lifting Has Been Done On This Laundromat.

Many Laundromats have good profits but need new equipment & remodeling which is expensive. This store is remodeled and has BRAND NEW EQUIPMENT (about 6 months old) but is lacking the profits. It is currently operating at a breakeven. This store needs someone to build the sales, especially Wash & Fold as well as PUD (Pick Up & Delivery). Once you build the sales higher, you won't have any major capital improvements for a while. This is being treated as an asset sale.

Seller invested in Brand New Equipment 6 months ago and sales have been picking up since as the store was run down and considered a "Zombie Mat."

Well appointed store on a main street in an area of 2-3 family homes. Great location based on demographics but parking is a little difficult right in front of store.

Store just invested over $100,000 on business and new machines in last 6 months.

Store has been here over 30 years and current owner has had it for less than 1 year but his current work and future relocation has not given him the opportunity to build/rebuild wash & fold as well as PUD (Pick Up & Delivery ) business

Approx. 900 sq ft with great rent of $1625 with approx. 10 years left on lease. Store has basement accessed through floor for additional storage.

WHERE IS THE OPPORTUNITY: Wash & Fold and PUD
Seller hasn't had the time to build the Wash & Fold and Pick Up & Delivery (PUD) business. This is key for next owner. Seller did recently install 9 laundry lockers to help jumpstart wash & fold but didn't have the time to implement a wash & fold program.

10 Washers & 10 dryers which are BRAND NEW (6 months old).

Store runs on both coins and credit card. Some machines have card readers installed.

Doors open via phone app so no running down to open.

Please note that store does not have a bathroom. There is a space where there is an old furnace is that could potentially be converted to a bathroom, if not, Seller advised that restroom is available in a chain/franchise store across street that is open to public.

A store like this with infrastructure (plumbing, heating, gas, sewer) and new equipment would be substantially more than $165,000 to build. Everything is done so all you have to do is focus on building sales.

List Price = $165,000 Slightly Negotiable
CASH offers Only.
No Seller, SBA or bank financing.
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BROKER'S NOTE ON ABSENTEE: This store is truly run absentee but as a former laundromat owner and broker who does 20 plus laundromats a year, the more time you spend at a store and manage it, the better. Most times when you see absentee, it just means that the owner has no set hours working the store, BUT, they need to be there weekly checking inventory, collecting cash, checking on maintenance, reviewing operations, managing work flow, managing staff, etc. Thus, you should always plan and on being at any store, even if marketed as "Absentee" for 10-15 hours a week minimum. Just my 2 cents but there is so much misleading info on laundromats in Social Media today. I tell all of my clients, "Laundromats are always more work than you think." Great business but if time is a concern, it may not be right for you.