Description

Wonderful business opportunity to own this long standing Laundromat located in Northern New Jersey and in the county of Sussex. The facility is 1,850 square feet is located in an attractive commercial mall on an active county road. The facility is nearby to numerous residential rentals with a continued need for this personal service. The sale includes twenty seven (27) Dryers and twenty six (26) washers consisting of thirteen to sixty pound capacity. The facility has central air and heat with large front windows supplying lots of natural light and a conformable pleasant atmosphere. The owner is presently semi absentee and cannot continue to maintain and further develop the business. The sale includes a fully equipped commercial laundromat, with twenty six washers, twenty seven dryers, central air conditioning, shelving, change machines, tables stations 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 laundromat business has three part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $2,550. The business transaction will include a new ten year commercial lease which expires 2025-01-01 plus options, with a monthly rent of $2,500 and rent security $7,500. The business is located in a commercial mall facility which consists of 1,805 square feet with a capacity for approximately fifty customers. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 8:00 am to 8:00 pm. The sale includes a certificate of occupancy (CO) from the particular municipality and the required state weights & measure 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 wonderful investment return to the owner operator prior to debt service. 2014 yearly income is $110,000. The business has been valued at $75,000 based on the value of the particular assets, licenses and a multiple of the net yearly income and seller financing has been approved to a qualified buyer with an appropriate down payment. Please do not disturb business, the employees are unaware of the pending sale, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

Financial Summary

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