Absentee High Volume Laundromat In Midland County, TX
Asking Price: $1,200,000
Annual Figures: 2024
Gross Sales: $398,000
Net Profit: currently $20,000-$25,000 a month
Business Highlights:
- Located in Midland County, TX
- Laundromat and the building was built 2 years ago
- Owner is absentee
- All machines are 2 years old
- All Speed Queen machines
- The machines are app only but there is a kiosk for bills and cards
- 2000 sqft
- 22 washers/23 dryers
- Owns the building. Would lease back at $6500.
- $398,000 gross sales for 2024. Should gross $500,000 - $600,000 this year and nets $20,000 - $25,000 a month currently.
- Amazing first year numbers and they keep increasing
- Very transit area
- Would need to be cash or Eastern Funding 30-40% down. NO SBA. Buyer would need 300K-400K down.
- Seller will hold a small seller note of around 200K
- Preapproved by Eastern Funding 30%-40% down. I can make the connection with my lender
- There is also a 3 unit building next door that can be purchased as well. It consists of (3) 1600 sqft units at $3500 each in rent and he has 2 verbal commitments already from tenants. They are breaking ground at the end of April. Seller is willing to sell the laundromat business, laundromat building, and the 3 unit new construction together for $3,200,000 or just the laundromat business by itself for $1,200,000. Recent appraisal for laundromat building and new construction came back at $2,000,000. It is all on one lot.
Washers:
20lb - 6
40lb - 11
60lb - 4
80lb - 1
Dryers:
45lb - 22
75lb - 1
Ad#:2353995
