Laundromat and Drop-Off Dry Cleaners - 30713

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Asking Price:
$799,000

Gross Revenue:
$679,714
Cash Flow:
$250,342
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

This Established, 1,200 sq. ft. Absentee-Run Coin-Operated Laundromat and Drop-Off Dry Cleaners open 24/7 is located in a Safe Upper Manhattan Neighborhood and can now be purchased for just 3 times what the owner annually pockets. There are 11 years left on the lease and the rent escalates at 3%, annually. The equipment is only 4 years old and very well-maintained. It consists of 24 Huebcsh washers (one 60 lbs., ten 30 lbs., and ten 20 lbs.) and 22 double-stacked Huebsch dryers. Coin self-service accounts for 46% of sales, wash & fold 46%, drop-off dry cleaning 5%, 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 11 years left on the lease and asking just 3 times what the owner pockets. Open 24/7. 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 for further information.

About the Business

Location:
New York County, New York
Year Established:
2008
Number of Employees:
0
Website:
www.vestedbb.com
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About the Sale

Reason For Selling:
Dissolution of partnership
Training/Support:
Yes

Listing Info

ID:
1495372
Ad Detail Views:
318

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Business Listed by

Vested Business Brokers, Ltd

Vested Business Brokers, Ltd

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