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Commercial Laundromat

Bergen County, NJ

Seller Financing Available
Commercial Laundromat
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Asking Price: $99,900

Cash Flow: $25,000

Gross Revenue: $111,675

EBITDA: N/A

FF&E: $120,000

Inventory: N/A

Rent: $3,600 /Month

Established: 2010

Commercial Laundromat

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Business Description

Excellent business opportunity to own this commercial laundromat which is located in an active area of Bergen County, Northern New Jersey on a busy county road. This laundromat is conveniently located near various residential rentals units and in a highly urban populated area. The business is next to a successful Rite Aid pharmacy and Quick Check which attract a high volume of customers. This wonderful location is on a high-volume road and additionally offers a wash and fold service. The business has sixteen (16) dryers and twenty-eight (28) washers. The sale includes a two-year lease with additional time extensions. This is an excellent opportunity which can be substantially improved by upgrading the equipment and instituting a local marketing plan in order to reach local customers. This laundromat presently has one part time employee who is unaware of the pending sale, responsible for the wash & fold service and fully expected to remain post-closing, monthly payroll is approximately $875.00. The business has an assignable commercial lease which expires October 15, 2021 plus an additional five (5) year option, with a monthly rent of $3,600, cost per square foot is approximately $24.18 and rent security $7,000. The 2018 yearly gross income represented by the seller is $111,675 and the business has a yearly net income of approximately $25,000 which includes the seller discretionary income based on an owner operator and prior to debt service. This is a dependable business opportunity. 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.

Attached Documents


Detailed Information

Location:
Bergen County, NJ
Real Estate:
Leased
Building SF:
1,800
Lease Expiration:
N/A
Employees:
1
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This single unit retail facility, which is 1,800 square feet consists of a free-standing building with a huge private parking area. The laundromat is near various highly active and successful businesses which attract numerous shoppers. This opportunity is located in Bergen County, New Jersey, which consists of various highly populated urban communities with continued demand for this particular service.
Competition:
To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The business presently does not have a marketing plan; no web site and the facility must be redecorated in order to improve the gross sales. Additionally, a pick and delivery service can be instituted also assisting the cash flow.
Financing:
May be considered with an appropriate down payment.
Support & Training:
The owner will remain post-closing for 30 days in order to supply an appropriate transitional period to the new operator.
Reason for Selling:
The present owner is relocating to a non-competing and alternative business.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
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Regal Consulting Corp.

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