Description

Successful dry cleaners / drop store located on a highly active county road in Passaic County, New Jersey. This twenty-six-year-old business has a consistent income and a wonderful income return to the onsite owner operator. The business has an average gross yearly income is $86,527 and the business has a consistent and solid net income. The business assets have an estimated value of $32,000 and the sale consists of a fully equipped commercial retail drop store cleaner, which includes displays, shelving, POS system, tables, computers, software 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 one-part time employee who is unaware of the pending sale and fully expected to remain post-closing, monthly payroll $325. The business has an assignable commercial lease which expires 2020-01-01 plus additional options, with a monthly rent of $1,833 and rent security $3,600. The business is located in an active commercial mall, 990 square feet and has a capacity for approximately ten customers. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active six days per week, with hours from 5:30 am to 6:00 pm, open until 7pm on Wednesday and Saturday 8am-4pm. The sale includes a certificate of occupancy from the particular municipality and the required state or 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 expects to supply a 31% investment return to the owner operator prior to debt service. The 2015 yearly gross income is $86,527 and the business has a yearly net income of $37,000 based on an owner operator and prior to debt service. The business has been valued at $60,000 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 may not represent this particular business.

Posted Aug 11, 2016

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