The Lost Sock Laundromat is a well-established neighborhood laundromat located directly across the street from UC Riverside. The business has a loyal customer base, steady cash flow, and multiple clear opportunities for growth. While the equipment is older, the store is stable and positioned for meaningful upside.

Recent improvements include vending machines, coin changers, and brand-new LED lighting throughout the store.

9 years left on current lease (5 years currently + 4 year tenant option)

Key Growth Opportunities:

• Unmatched Location Near UC Riverside:
UC Riverside recently completed North District Phase 2, adding 1,568 new dorm beds directly across the street. As these units lease up, the laundromat is uniquely positioned to benefit from increased student demand.
• Fluff & Fold Expansion:
Fluff & fold service is not currently offered and represents a strong opportunity to increase revenue, especially when marketed to busy students living steps away from the store.
• Modern Payment Systems:
The laundromat currently operates on an all-coin model. Adding card or mobile payment options would likely increase usage among students and improve overall revenue.

Barriers to Entry:

The City of Riverside almost has a moratorium on brand new ground up laundromat construction since it is cost prohibitive to do so. A laundromat of this size costs approximately $200K on top of standard build-out costs because of fees; creating a huge moat to additional competition and a strong barrier to entry. There are only 2 other laundromats within 2 square miles, and none within walking distance of UC Riverside. If you are looking to build a new laundromat, the most cost effective way to do so is to buy an existing one and revamp it.

Financial Overview:

The business currently cash flows approximately $1,600–$2,000 per month with a daily attendant under the existing operating model. Owner only comes to the location once a week for coin collection. The asking price reflects both current performance, the substantial upside potential, as well as an cash offer from a developer who previously expressed interest in fully modernizing the store with new equipment.

A pro forma analysis shows meaningful NOI expansion under modest assumptions, driven by student demand growth and operational enhancements.

PLEASE DO NOT question attendant about the sale of the laundromat if you decide to visit.