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180k Net, Absentee Card Laundromat In Dense Location For Sale

Bronx, New York, US
Asking Price:
$999,999 Furniture / Fixtures included
Sales Revenue:
$405,619
Cash Flow:
$180,000

Located in a heavy foot traffic bustling location on the same block as a major NYC subway station.

The laundromat is placed in immediate proximity to multiple residential buildings & homes.

Owner is fully absentee, only stops by 1-2x a week.

22 years remaining on the lease, 3% increases annually.

73 Machines (35W, 38D) – 3 years old.

Top of the line Card System Speed Queen Machines.

2,000 SQ FT Space with a full basement.

3 employees.

A signed confidentiality agreement is required for the exact location

Property Information

Real Estate:

Lease

Lease Terms:

22 years remaining on the lease, 3% increases annually.

Leasehold Rent:

$80,400 per annum

Premises Details:

Located in a heavy foot traffic bustling location on the same block as a major NYC subway station. The laundromat is placed in immediate proximity to multiple residential buildings & homes.

Business Operation

Expansion Potential:

22 years remaining on the lease, 3% increases annually.

Competition / Market:

73 Machines (35W, 38D) - 3 years old.

Reasons for selling:

Other business interests.

Other Information

Support & training:

Yes.

Financing available:

N/A