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Essex County Laundromat For Sale

Essex County, New Jersey, United States
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Asking Price$170,000
Revenue$143,000 Established2008
Cash Flow$52,539 Employees2 part-time
FF&E$90,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Excellent business opportunity for this profitable laundromat located in highly populated urban city of Essex County, New Jersey. The business has a yearly gross income of $143,000 and a net income of $52,000. The sale will offer a long-term 10-year lease at a monthly rent of $1,500, and an opportunity to purchase this five-unit property at $350,000. The laundromat is conveniently located on a commercial avenue with various other successful businesses. The laundromat also offers a wash & fold service which represents 12% of their gross income. The business offers Wash & Fold Laundry Services for comforters, tablecloths, linens, blankets, drapes, suede, leather, area rugs and most anything you can think of. This industry does not require government agency approval to purchase. This particular business has two-part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,500. This business transaction will include a ten-year commercial lease which expires 2027-01-01 plus an additional option, with a monthly rent of $1,500, cost per square foot is $9.20 and rent security $1,600. The business consists of 1,140 square feet has a capacity for approximately thirty-five (35) customers. The business assets have an estimated value of $90,000 based on replaced cost and licensing and the sale consists of a fully equipped commercial laundromat which consists of nineteen washers, nineteen dryers, coin machine, stereo, TV, displays, shelving, tables, including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate municipal parking close to the business. The business is active seven days per week, with hours from 7:00 am to 7:00 pm. The sale includes a certificate of occupancy from the municipality and the required city licenses to conduct its day to day business. The business has been valued at $170,000 based on a multiple of the net yearly income and the value of the specific business assets and bank financing is available to a qualified buyer with an appropriate down payment, collateral and credit rating. An option to purchase the real estate is also available. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 30% investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:This retail facility consists of 1,140 square feet with a clean attractive professional appearance. The business is on an active commercial avenue with various other successful businesses. This opportunity is located in Northern New Jersey, Essex County, in a highly-populated city which consists tens of thousands of residents with continued demand for this particular service.
Competition:To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth Potential:The business presently has a limited marketing system and if improved can further develop the business bottom line net income.
Training/Support:The owner will remain post-closing for a minimum of 30 days to supply an appropriate transitional period to the new operator.
Seller Financing:May be available to a qualified buyer with an appropriate down payment.
Sale Reason:The owner is relocating out of the state of New Jersey.
Ad #101760
Seller Reference #LAUN263
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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