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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Laundromat & Property
(Services, Dry Cleaning, Laundromat)
Orange County , NY
Listed Price: $ 550,000
Listing ID: LAUN273

Listing DetailsGross Revenue: $ 102,840
Cash Flow: $ 29,092
FFE: $ 150,000 (Included in Price)
Inventory: $ 1,000 (Included in Price)
Reason for Sale:

The sale is due to the owner’s absenteeism and resides out of the state.


Training & Support:

The owner will remain after-closing for 30 days in order to supply an appropriate transitional period to the new operator.


OperationsYear Established: 2001
Days & Hours of Operation: Mon.-Sun. 7am-7pm
Non-owner Payroll: $ 2,900
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 2000
Facilities:

This commercial laundromat retail facility, which is consists of 2,000 square feet is in a highly active mall with numerous other businesses. The laundromat has a full basement and is conveniently located on an active county road. The laundromat is near various active businesses which attract various shoppers. This opportunity is in Orange County, New York, which consists of highly populated communities with continued demand for this service.


SummaryBusiness Description:

Excellent opportunity to own this commercial laundromat with property in a wonderful area of Orange County, New York. The real estate consists of two commercial rental units. The business is on a commercial avenue with various other successful business 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 twenty-one (21) commercial washers and twenty-two (22) dryers. This is an excellent opportunity which can be substantially improved with an improved marketing plan. Regarding employees and payroll, this laundromat business consist of three full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $2,900. The business fixed assets has an estimated value of approximately $150,000 which is based on equipment and licensing replacement cost. The business is active seven days per week, with hours from 7:00 am to 7:00 pm. This business transaction includes a certificate of occupancy from the municipality and the required state or city licenses to conduct its day to day business. The business and real estate has been valued at $550,000 based on a multiple of the net yearly income, property and the value of the specific business assets. Bank financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. 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 return on investment to the owner operator prior to debt service. 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.


Competition:

To the best of our knowledge, and due to licensing requirements, 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.


Potential Growth:

The business presently has no marketing plan, no web site and an absentee owner, if improved can further develop the business yearly cash flow.


Financing/Terms:

Possible owner financing can be available.