Description

Good opportunity to own this wonderful laundromat business with real estate located in Northern New Jersey and in the County of Essex. The business has newer equipment in excellent working condition and recent upgrades and consist of a clean attractive business opportunity. The real estate has an assessed value of $363,742, property taxes $10,571 and the business has a dependable yearly income to the owner operator. The sale consists of a fully equipped commercial laundromat store, which includes displays, shelving, POS system, newer washer and dryers, newer electric system, upgraded pluming, new roof vents, tables, computers, software 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. This particular business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $1,850. No lease the business opportunity includes the real estate. The business is located in a free stranding facility which consists of 1,440 square feet has a capacity for approximately twenty two customers. The facility has appropriate municipal parking nearby to the facility. The business is active seven days per week, with hours from 7:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required city licenses to conduct its day to day business. 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 39% investment return to the owner operator prior to debt service. The yearly gross twelve month income is $126,000 and the business has a yearly net income of $60,000 prior to debt service. The price is set at $450,000, based on a multiple of the net yearly income and the value of the specific business assets. The business has been valued at $145,000, the property value is $375,000 and seller financing has been approved to a qualified buyer with an appropriate down payment and credit rating. 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.

Financial Summary

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