Highly Profitable Laundromat
Essex County, NJ
Excellent business opportunity for this highly profitable laundromat located in highly populated urban city of Essex County, New Jersey. The business has a yearly gross income of $150,000 and a net income of $61,995. The laundromat is conveniently located on a commercial avenue with various other successful businesses. The laundromat also offers a wash & fold service which represents 15% of their gross income. The business also offers Wash & Fold Laundry Services for comforters, tablecloths, linens, blankets, drapes, suede, leather, area rugs and most anything you can think of. The business assets have an estimated value of $90,000 and the sale consists of a fully equipped commercial laundromat which consists of nineteen washers, nineteen dryers, coin machine, stereo, TV, 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 two-part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,500. The business has an assignable commercial lease which expires 2026-01-01 plus an additional ten-year option, with a monthly rent of $950, cost per square foot is $9.20 and rent security $1,500. The business consists of 1,240 square feet has a capacity for approximately thirty-five (35) customers. The facility has appropriate municipal parking close to the business. The business is active seven days per week, with hours from 7:00 am to 7:00 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 2015 yearly gross income is $150,000 and the business has a yearly net income of $61,995 based on an owner operator and prior to debt service. The business has been valued at $150,000 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, collateral 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 does Not represent this particular business opportunity.