Price Just Reduced on this Well-Established Absentee-Run Coin-Operated Laundromat & Drop-Off Dry Cleaners in Safe UWS Manhattan Neighborhood. 12 years left on the lease (3% escalation). 1,200 square feet. Equipment is middle-aged and has been well-maintained. 5 IPSO Washers (2 - 55 lbs.and 3 - 40 lbs.) 13 Huebsch Washers ( 2 large and 11 smaller). 16 Double-Stacked ADC Dryers. Self-Service accounts for 35% of sales, Wash & Fold 54%, Dry Cleaning 8%, and Soap sales 3%. 4 F/T and 1 P/T employees share Wash & Fold and Pick Up & Delivery responsibilities. It is rare to find a well-established laundromat like this in Manhattan with 12 years left on the lease asking just 3 times its verifiable cash flow. Furthermore, there are still ways from which to squeeze out more profitability (eg., delivery costscan be reduced and delivery radius can be increased). Open 7am-midnight 7 days/week. Do be very discreet when visiting the location, as the employees and customers do not know it is for sale. Kindly then contact listing broker Jay Goldman should you have any questions and would like to make an appointment to speak with the owner. Please call 1-877-735-5224 for further information.
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