Description High Volume Laundromat - 50% Partnership - Seeking a working partner. One of the partners is seeking to move out of the state and would like to sell his 50% stake in this laundromat. This would require a working partner who would only have to visit the store a few days each week.
This is a 5 year old facility, build out from scratch in the heart of a heavily populated Queens neighborhood. All equipment is only 5 years old. All Dexter - 23 washers and 24 dryers. This is a 2,500 sq. ft facility with 15 years left on the lease and a rent of $5,000/mth. They are open 7 days from 6am-11pm. They offer coin laundry, wash & fold, dry cleaning drop off and limited pick up and delivery. This location is well-light, with flat screen tv's, A/C and WiFi.
In the past year they had gross sales of approx. $650,000.00 with a net income of approx. $84,000.00. This is run as an absentee operation with new machines, a long lease and great neighborhood. We are seeking a serious and financially qualified buyer with at least $99K in liquid funds. That would purchase 50% of the business and a cash flow of approx. $42K.