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Profitable Laundromat For Sale

25/wk
Essex County, New Jersey, United States
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Asking Price$89,000
Revenue$100,000 EstablishedUndisclosed
Cash FlowUndisclosed EmployeesUndisclosed
FF&E$75,000* FranchiseNo
Inventory$1,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
This is a solid business opportunity to own a profitable Laundromat in a highly-populated city located in Northern New Jersey, Essex County. The business is near to various successful businesses that attract a large volume of daily shoppers & workers. The Laundromat is on an active county road with a huge population of resident’s minutes from various state highways. This Laundromat is active seven days per week and with no employee’s and presently does not offer wash and fold services. The business has twenty-three washers and seventeen dryers consisting of national name brand equipment. The business produces a gross of income of approximately $100,000 and a consistent net yearly income. The owner is absentee, with a full-time job, is the landlord and cannot maintain the time to manage this active Laundromat business. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped commercial laundromat business, which includes 23 washers, 17 dryers, 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 building has a capacity for 38 customers, 1,450 sq. ft., with a full basement. The business location has substantial municipal parking on the site close to the facility. The business is active seven days per week with hours from 7am-7pm. The business has a municipal Certificate of Occupancy and the required city license to conduct its business operation. The business has an assignable commercial lease which expires 2028-01-01 plus additional options, with a monthly rent of $2,000, cost per square foot is estimated at $18.00 and rent security of approximately $2,000. Based on the asking price, required down payment and net income this business should supply a wonderful return to the owner operator prior to debt service. This is an excellent safe business opportunity. The price has been set at $89,000 based on asset value and the present income, also seller financing may be available with an appropriate down payment. Viewings are by appointment only, photo does not represent this laundromat.
Facilities:The facility consists of 1,450 square feet on a very active commercial avenue with various businesses that attract a large volume of customers. The facility has a full basement and separate work areas consisting of a clean organized image.
Competition:No other nearby Laundromats are expected in this specific area and the seller will supply a non-compete agreement to the purchaser.
Growth Potential:The present owner is absentee, has no employees, no marketing or website, does not offer wash / fold and if offered can further develop the income.
Training/Support:The seller will remain 30 days after closing and supply a transitional period.
Seller Financing:To be discussed.
Sale Reason:The owner is absentee not involved in the laundry industry and is the landlord.
Ad #97417
Seller Reference #LAUN256
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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