Two Stand Alone Dry-cleaning Stores Inc. Real Estate For For Sale

Property Information

Real Estate:

Real Property Included

Premises Details:

Combined, the two locations include over 7,000 square feet of indoor space and nearly 18,000 square feet of concrete paved parking and drive-through space. One location was converted from retail space, and fully renovated for dry-cleaning use in 2006. The other location's building has always been used for dry cleaning since construction in 2013.

The newer location, with total property exceeding one acre, has ample space available for additional commercial space up to 6,000 square feet. This offers new owners with another potential income stream.

Prospective buyers should note that the sellers currently own both properties, and the businesses do not pay rent on their P&L statements. Published cash flow in the listing is not adjusted for fair market rent since the cash flow shown is fully available for debt service and all other financial obligations of a going concern.

Business Operation

Expansion Potential:

First-quarter 2022 revenues were up 15% above 2021 and are on track to beat pre-pandemic revenues. Adding continued growth in coming years may best be achieved through adding additional services for current customers and boosting customer outreach.

Competition / Market:

Nationally, the dry-cleaning industry is highly fragmented, and competition is strong. Stores like these that have adopted newer technologies and addressed environmental requirements will fare the best as the economy continues to emerge from the pandemic.

In their local market, these stores are leaders in market share. Since 2018 there has been some consolidation in the local market. These stores are well positioned for revenue growth as the economy normalizes post-pandemic.

Reasons for selling:

The sellers have operated dry-cleaning stores for decades, and these younger stores showcase that experience. However, the sellers are in their sixties, and are ready to retire from dry-cleaning operations.

Trading hours:

Mon-Fri 7am-7pm; Sat 8am-4pm

Employees:

29 FT/3 PT

Years established:

16

Other Information

Support & training:

Will train for 2 wseeks @ $0 cost.

Financing available:

Lender pre-screened with $400K down.

Furniture / Fixtures value:

$311,000 - included in the asking price