Great Location, Private Parking, New Buildout & New Machines.

The laundromat is mostly unattended and has part time worker for approx. 20 hours a week.

Machines and buildout are just about 1 year old. Seller invested over $250,000 in buildout and $300,000 in equipment.

Sales are still increasing as store is still new.

1)The main store is 1600 sq ft ft and is a self serve laundromat with NEW Speed Queen machines.

Coin Operated store.

2) The store has an additional 300 sq ft separate entrance for a wash & fold business. This is an undeveloped source of revenue as a family member staffs this service only 20 hours a week for 3 days and owner covers 2 days for another 10 hours so lots of room to grow as wash & fold service should be open daily for standard hours. The wash & Fold already does approx. $1750 a month and commands $2.50 per lb. or $3.50 for drop off. Seller currently spends about 2 hours a week doing a few Pick Up and Deliveries (PUD).

14 Washers : large capacity with 4 = 60lbs.
16 Dryers: large capacity with 6 single pocket =60lbs and 10 stack = 40Lbs.

Self serve is already avg about $2400 week after 1 year.

Seller will owns building and laundromat. Business is being valued at $400,000 and Building with 3 rentals (laundromat, fitness & apartment) is being valued at $995,000. Seller will deal with potential buyer directly for building purchase if buyer is interested as JB & Associates is only representing the laundromat sale = $400,000.

Seller advised of the following info which is approx.: Building is 7,000 sq ft with misc. space.
1) Fitness Center is 3200 sq ft and collects rent of $3,000 month.
2) Apartment is 1700 sq ft and collects rent of $2,500.
3) Laundromat currently does not pay rent as Seller owner building but it is 1600 sq ft with anticipated rent of $3800 and includes all infrastructure and equipment.
Total Rents = $9300

Owner overextended his finances & time with buying building, buildout and is tapped for time with his full time job and landscaping business. He needs to lighten his load.

Everything is NEW. Just come in and keep building and growing the business.

List Price = $1,395,000 ($400,000 for laundromat business and $995,000 for building)
Financing available with traditional bank financing for commercial rental building. ______________________________________________________________

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.