Description

Profitable high volume modern Laundromat priced to sell based on fair market value located in a highly populated urban area of Union County, New Jersey. The business equipment has been upgraded within the past years with a clean attractive image. The business has a gross income of $574,430 and a net yearly income of $139,754. 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 investment return to the owner operator prior to debt service. The sale includes a fully equipped commercial retail laundry store, which includes various high production washers and dryers, coin machines, displays, shelving, tables, 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 four full and part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,700. The business has an assignable commercial lease which expires 2023-01-01 plus additional options, with a monthly rent of $14,000 and rent security $20,000. The business is located in a free standing commercial facility which consists of 5,000 square feet and has a capacity for approximately one hundred customers. The facility has appropriate municipal parking nearby to the Laundromat. 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 state weights & measure licenses to conduct its day to day business. 2014 yearly income is $574,430 and yearly net income of $139,754 prior to debt service. The price has been valued at $475,000 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. Please do not disturb business, 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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