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Laundromat For Sale Bergen County, NJ

Bergen County, New Jersey, United States
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Asking Price$95,000
Revenue$110,000 Established1980
Cash Flow$31,500 Employees1 full-time
FF&E$45,000* FranchiseNo
Inventory$750* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Excellent opportunity to own this commercial laundromat which is located in Bergen County, New Jersey on an active county road. This laundromat in conveniently located to various residential rentals. The business is next to an active Rite Aid and Quick Check which attract a high volume of customers. This wonderful location is on a high traffic road and additionally offers a wash and fold service. The business has sixteen (16) dryers and twenty-eight (28) washers. The sale includes a six-year lease with additional time extensions. This is an excellent opportunity which can be substantially improved by upgrading the equipment. The sale consists of a fully equipped commercial laundromat retail business, which includes twenty-eight washers, sixteen dryers, change machine, carts, 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. This particular business has one-part time employee who is unaware of the pending sale and fully expected to remain post-closing, monthly payroll $875.00. The business has an assignable commercial lease which expires 2021-01-01 plus additional options, with a monthly rent of $3,450 and rent security $7,000. The business is located in a free stranding facility which consists of 1,600 square feet and has a capacity for approximately thirty-five customers. The facility has substantial private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 7:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. 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 consistent investment return to the owner operator prior to debt service. The projected 2015 yearly gross income is $110,000 and the business has a yearly net income of $31,500 based on an owner operator and prior to debt service. The business has been valued at $95,000 based on a multiple of the net yearly income and the value of the specific business assets and bank financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. 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 may not represent this particular business.
Facilities:This single unit retail facility, which is 1,600 square feet consists of a free standing building with a huge private parking area. The laundromat is near various highly active and successful businesses which attract various shoppers. This opportunity is located in Bergen County, New Jersey, which consists of various highly populated communities with continued demand for this particular service.
Competition:To the best of our knowledge due to various circumstances, 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 plan, no web site and old equipment, if upgraded can further develop the business bottom line net income.
Training/Support:The owner will remain post-closing for 30 days in order to supply an appropriate transitional period to the new operator.
Seller Financing:Some seller financing is available to qualified buyers.
Sale Reason:The owner is relocating to an alternative business opportunity.
Ad #86022
Seller Reference #LAUN216
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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