This laundromat has been in this location for over 40 years and in excellent area surrounded by 2-3 family homes with good parking.

Store is approx. 2100-2400 sq ft with 46 dryers and 28 BRAND NEW WASHERS.

Landlord will do a new 10 year lease. Current rent is approx. $2700 total.

This is an unattended store that is coin operated. Seller does the cleaning himself.

Net profit is approx. $45,000 with store doing approx. $2300 week in self serve.

The seller wasn't able to swing putting in new dryers with washers and that has caused him problems as dryers are 25+ years old. They need to be replaced. In hindsight, he wished he did 1/2 new washers and 1/2 dryers new. Currently about 16 of the 46 dryers are out of service.

This store is in a great neighborhood on a corner lot with great visibility.

The new machines alone cost almost $190,000 and he put another $25,000-$30,000 for install and misc. Thus, he is just selling for the cost of the recent improvement.

Value in this store is the location, existing buildout, 40 year history, infrastructure (plumbing, heating gas lines, etc.) plus the new equipment.

New owner has lots of opportunity by giving store a cosmetic facelift and new dryers. Seller has another business that doesn't allow him to make the necessary improvements financially or spend the time rebuilding.

List Price $225,000
Cash Offers Only - No SBA, Seller 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.