Unattended Coin Laundry For Sale

Business description

This 24x7 Unattended coin laundry business enjoys a long operating history (est. 29 years) in St. Petersburg FL. The store is very well equipped with 26 Speed Queen washers, 26 (13 double stacked) Speed Queen dryers, 10 folding tables, camera surveillance system, alarm system, and much more. Everything was retrofit & installed new in 2003. Nothing is over 5 years old!

Revenue and Profitability have continued to grow year over year since inception. The current owner is absentee and has not taken advantage of the potential of this large space to include other services such as a drop store or wash & fold service, leaving tremendous growth potential for a new owner!

Property information

Real Estate:

Lease

Lease terms:

There are approximately 15 years remaining on the lease + options. The initial lease is a 10-year (5 years left) with 2 renewal options of 5 years each @ 3% annual increase. The current rent is 3878/mo.

Location:

The facility is approx. 3050 square feet, located in a strip mall anchored by grocery store, major drug store, and a bank. The area is heavily residential with a non-transient, stable population base to support the store. Unlike many coin laundries in Florida, this one shows steady monthly revenues that are not as impacted by migration patterns.

Other information

Expansion potential:

The lease allows additional services that are not offered today, such as drop-off dry cleaning (no on-premise processing), wash & fold service, and other coin-vended items such as snacks, gum, ice cream, and video games.

Trading hours:

24x7 unattended

Financing available:

some financing possible for qualified buyer

Furniture / Fixtures value:

$150,000 (included in the asking price)

Website:

vrbusiness-sales.com