HS Listing ID-72239
Asking Price: $170,000
Annual Figures:
Gross: $57,658
Annual Expenses:
Rent/Water: $26,400 ($2,200/Monthly)
Electric: $5,737.12
Gas: $4,228.28
Internet: $1,283.86
Repairs: $1,118.19
Business Highlights
• Fully self-service, coin-operated laundromat requiring no employees, creating an excellent absentee ownership opportunity
• Current owner works full time in New York City and is not involved in the day-to-day operation of the business
• Family member is typically on site Monday through Friday. Any wash and fold services performed are operated independently and are not included in the laundromat’s revenue, generating approximately $500 per month for the family member
• Strong value-add opportunity to introduce wash and fold, pickup and delivery, dry cleaning, and commercial laundry services to significantly increase revenue
• Approximately 6 years remaining on the current lease. Landlord is open to offering a new extended lease to a qualified buyer
• Equipment includes:
– Dryers: ADC
– Washers: Speed Queen & Fagor
- 8 washers (Age unknown)
- 3 washers, 4 years old
- 2 large capacity washers, 4 years old
- 16 dryers, 4 years old
• Coin dispenser installed in 2022
• Vending machine installed approximately 2 years ago
• Fully coin-operated equipment with the following pricing:
- Additional recurring ancillary income includes:
- Vending machine: approximately $100 per month
- Coin operated game: approximately $150 per month
- Candy dispenser: approximately $80 per month
- Tide detergent: approximately $70 monthly profit
- Clorox detergent: approximately $83 monthly profit
- Bounce dryer sheets: approximately $68 monthly profit
- Downy fabric softener: approximately $69 monthly profit
• Seller is pursuing other real estate ventures and no longer has the time to actively oversee the business
Growth Opportunities
• Add a full service wash and fold operation
• Launch pickup and delivery services to create recurring revenue
• Introduce dry cleaning drop-off services through a third party partner
• Develop commercial laundry accounts with local businesses, salons, spas, gyms, restaurants, Airbnb hosts, and medical offices
• Increase ancillary income by expanding vending offerings and retail detergent sales
• Upgrade to a hybrid coin and card payment system to enhance customer convenience and increase revenue potential
A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION
