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Businesses For Sale   >>   Kings Businesses For Sale   

Laundromat In Safe Brooklyn Neighborhood

Location  Kings County, New York, United States
Asking Price Range  $250K - $500K
Gross Revenues  $320000
Net Profit / Cash Flow  $140602
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  2003
Number of Employees  1 - 3
Relocatable  Not Disclosed
Number of Employees  1 - 3
Real Estate  Leased
Training  Seller will train
Reason for Sale  Personal

Description  
This profitable and well-maintained large laundromat is located in a safe, diverse, and growing Brooklyn neighborhood. It's doubtful you'll uncover another gem like it. Steady customer flow from 7am-1am seven days/week. The seller is the landlord, so getting a new and long lease (~15 years) will not be a problem. The laundromat has 30 washers (18 regular, 8 large and 4 super large) and 30 dryers (15 Huebsch Originator Twin 30s), all approximately seven years in use requiring only minor repairs and maintenance. In-house drop-off laundry service and the out-sourcing of dry cleaning together equally contribute toward about $100K of the $300K in gross revenues. The other $200K is from self-service use of the machines. Additional income from coin changing machines, an ATM on premises, a variety of vending machines, a massage chair and miscellaneous other revenue generators bring in another $18K of profits. You may want to retro-fit machines with a card reading system, grow the pick-up and delivery business, and do more local advertising. The laundromat is housed in a 4-story, 18 unit residential building, all of which is currently under one water meter. The seller/landlord believes he is fairly representing the laundromat's share ($15,000) of the building's total annual water bill ($22,000) in the accompanying business profile we provide. He will at his cost install a separate water meter for the laundromat at or around closing and is glad to educate buyers who are new to the laundromat business. Please email or call Senior Vested Business Broker Jay Goldman at 646-670-1961 for an appointment to take a full tour and speak with the seller.


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