Laundromat and Dry Cleaner (Price Reduced)

Edison, NJ (Middlesex County)

Front Entrance
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Asking Price: $399,000

Cash Flow: $104,461

Gross Revenue: $185,817

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $4,805,900 /Month

Established: 2005

Laundromat and Dry Cleaner (Price Reduced)

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Business Description

This is a very well maintained laundromat that is open 24 hours a day and is surrounded by large apartments. The town's population has only grown in the last few and we continue to encounter new customers on a daily basis. The business is well established and has been operating at this convenient location for over 49 years.

The laundromat has significant potential to grow in terms of wash and fold as well as delivery services for commercial accounts. The laundromat services a few commercial accounts as of right now but there have been no marketing efforts to expand this part of the business. Additionally, self service and wash & fold revenues have shown steady growth with a loyal customer base that values cleanliness as well as attention to detail. From our reviews to what we hear from our customers, we are the leader in the area of providing quality wash & fold and dry cleaning services.

The lease is very long and has favorable terms as described below. You can get a better idea of the services that we offer by taking a look at our website. Feel free to reach out if you would like to setup a time to meet or would like to take a more detailed look at our financials.

Detailed Information

Real Estate:
Leased
Building SF:
1,700
Lease Expiration:
1/1/2047
Employees:
0
Facilities:
Lease: 15 years plus two 5-year options. Rent ($2827/month including everything) increases by 5% every 5 years. 22 washers (16 20-lb machines and 6 40-lb machines) and 19 30-lb dryers (9 single stacks and 5 double stacks). All installed in 2006. Additional: hot water heater (installed 2012), 7 tables, scale, register, TV, credit card terminal, shirt laundry racks, standard change maker ($1600 capacity), soap vending machine, seating batches, CCTV system, modern heater (installed 2006), electric and plumbing (redone 2006).
Competition:
There not many laundromats in the area. We receive business from the neighboring apartment complexes as well as the surrounding residential area.
Reason for Selling:
Owner is retiring.
Business Website:
http://www.onestoplaundryanddrycleaner.com
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Business Listed By:
Prabhu Ughareja

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