Laundromat - Every Day Is Pay Day

Listing ID: 700187115

Listing Title: Laundromat - Every Day Is Pay Day

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Industry: Business Services

Industry Segment: Laundry

Country: United States

State / Province: Maryland


City: Prince George's County

Asking Price Range: $250K - $500K

Gross Revenues: $212,000

Cash Flow: $89,655

Cash Flow Type: Sellers Discretionary Cash

Year Established: 2008

Number of Employees: 1 - 3

Business Description:
Motivated Seller Reduced Price $50,000! Bring your offers for this all cash business! This busy neighborhood Laundromat offers multiple sources of cash revenue in a thriving shopping center, located in a busy Maryland suburb of DC. Parking is ample. There have not been any incidents of crime or vandalism. Center anchors are CVS and AutoZone. Neighbors are 7-11, a bank, specialty food stores, barber shop, nail salon, office suites, and restaurants, with 4 auto service stations on the east and west corners. There are 4000 households within one mile, and 30,000 households within three miles. Many of the households are multifamily. Many have recently moved to the area from other towns or other countries. The nearest coin laundry competitor is 3 miles away. The attractive long term lease runs through 2017 with an option for 12 more years. Owner has a full time day job. He and family are planning relocation upon retirement. Every day is Pay Day! Owner works about 15-20 hours per week on-site, mainly at closing. The business brings in a healthy cash income of $4000 to $4500 weekly from coin operated laundry machines ($350 to $425/day), and from wash/dry/fold services ($300/week), MD state lottery action ($600/week), coin operated game machines ($400/week), phone card sales and laundry supplies ($200/week). Assets are twenty-four energy efficient programmable Wascomat front load washers (low water consumption and secure coin vault) and twenty-nine energy saving ADC front load dryers: Washers: 30 lb (4), 45 lb (11), 55 lb (5), 65 lb (3), 80 lb (1). Dryers: 45 lb (24), 70 lb (4), 85 lb (1). All 29 of the dryers are three years old. Twenty of the 24 washers are less than four years old. The life expectancy of the equipment is twenty years. Total cost of the machines new was over $200,000 plus installation. A new water boiler was installed several years ago. New HVAC air handling unit was put in last year. This is a great opportunity for the right person, someone who does ...

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