Description

Profitable 5,000 square foot laundromat located in Essex County, New Jersey with a gross income of $500,000 and a consistent net yearly income of $181,000. The business has seventy washers and seventy dryers, fully computerized and the equipment is approximately ten years old. The sale includes a long term lease at fair rental value. A large portion of the business income is from commercial accounts for wash and fold service. The sale consists of a fully equipped commercial laundromat business, which includes 70 washers, 70 dryers, change machines, displays, shelving, accounting system, tables, computer, one van, 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 five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $10,400. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $6,250 and rent security $10,000. The business is located on a commercial avenue and consists of 5,000 square feet has a capacity for approximately sixty customers. The facility has appropriate Municipal Street parking near to the business site. The business is active seven days per week, with hours from 7:00 am to 10:00 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 29% investment return to the owner operator prior to debt service. The 2014 yearly gross income is $520,000 and the business has a yearly net income of $181,000 based on an owner operator and prior to debt service. The business has been valued at $425,000 based on a multiple of the net yearly income and the value of the specific business assets 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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