Laundromat business available with a gross income of $60,000 and a consistent net income of $20,000 yearly to the owner operator. The sale includes a long term ten-year lease agreement at a modest rent expense. The equipment is primarily Maytag consisting of standard age, fifteen washers and ten dryers and a ten year old Bradford boiler. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply an appropiate investment return to the owner operator prior to debt service. This industry does not require government agency approval to purchase. The retail facility consists of 1,220 square feet and located on a commercial avenue with other local businesses. This business opportunity is located in Northern New Jersey, Passaic County, which consists of a very high population with continued demand for this service industry. This particular business presently has no employees. The business has an assignable commercial lease which expires 2026-01-01 plus additional options, with a monthly rent of $1,150, $11.31 per square foot and rent security of $2,600. The business is located in a free standing facility which consists of 1,200 square feet has a capacity for approximately fifteen customers. The business assets has an estimated value of approximately $55,000 which is strictly based on replacement cost and the sale consists of a fully equipped commercial laundromat, which includes washers and dryers, displays, shelving, tables, change machine 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. The facility has appropriate municipal parking near to the facility. The business is active seven days per week, with hours from 7:00 am to 10:00 pm. The sale includes a certificate of occupancy from the municipality and the required city licenses to conduct its day to day business. The owner will remain post-closing in order to supply an appropriate transitional period to the new operator. The owner has an alternative business opportunity. The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income. 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 a long term non-compete agreement to the purchaser. The 2015 yearly gross income is $60,000 and the business has a yearly net income of approximately $20,000 based on an owner operator and prior to debt service. The business has been valued at $49,000 based on a multiple of the net yearly income including 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.
Asking Price $49,000
You May Also Like
Charlotte Metro Law Firm #302962 posted Jul 3, 2012
- Charlotte, North Carolina, United States
Law Firm, Charlotte, North Carolina, Mecklenburg County. Areas of Practice: Litigation - No Criminal / No Family; Asset Protection; Real Estate; Business Law; Collection Law; Wills & Estate; Debt Relief and Securities. Very Well Established, Since 1993, Seller Retiring, Perfect for Expansion or Young...
Long-Standing Law Firm in NC (Estate; Probate) #410528 posted Jun 28, 2016
- South Carolina, United States
- Less than $100,000
Small town law practice with long-standing and strong practice in probate and estate litigation matters heard before the Clerk and in district and superior court. Also existing ongoing transactional matters in real estate and business. The firm is well known and established within the local community...
Successful Coastal Carolina Real Estate Law Firm #410525 posted Jun 28, 2016
- South Carolina, United States
- Between $500,000 and $1,000,000
Successful real estate firm with great location in North Carolina. This firm flourishes utilizing a strong networking system based on established working relationships within the growing community and with local developers. This firm also has an increasing practice in Wills and Estate Planning that...
Disclaimer: MergerNetwork has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.