Absentee Laundromat In Manhattan Netting $200,000
Can get financing through eastern funding- 35-50 percent down)
Listing Title: $200,000 Net Card Machine Laundromat - Laundroworks
Asking Price: $1,000,000
100% Absentee Laundromat located in Upper Manhattan!
Annual Revenue: $590,399
Annual Expenses: $374,766
Net Cash Flow: $215,633
Profit Margin: 36.5%
36 Card machines (19 washers & 17 dryers)
Size: 1,100 sq. ft. + basement
Lease: $7,315.18/month - 11 years remaining (3% annual increase)
Hours: 7 days/week, 7:00 AM – 11:00 PM
Employees: 5 total (3 part-time wash & fold, 2 delivery)
Ownership: 100% absentee
Revenue Breakdown:
Self Service: $262,095
Wash & Fold: $293,904
Soap Sales: $15,000
Amazon Delivery Commission: $18,200
ATM Income(leased 50/50 profit share): $1,200
Expense Breakdown Annual:
Rent + R.E. Tax: $87,782
Payroll: $101,000
Insurance: $5,400
Utilities (Electric & Water): $77,000
Dry Cleaning Services: $16,424
Delivery: $52,000
Garbage: $4,692
Soap: $24,000
Maintenance: $4,800
Phone: $1,668
Broker notes:
Established 27 years
Washers were purchased refurbished couple years ago
Dryers are approximately 4 years old
Ipso washers & Huebsh dryers & 1 big Speed Queen dryer
Lease security deposit is $20,000
Dry cleaning is outsourced 60/40 profit share
ATM is leased (50/50 profit share)
Pick up/Delivery offered through amazon
Payroll is mostly cash, 2 employees are 1099
Basement used for personal use
