Business Summary:
In 2005, this gentleman bought a building and opened a laundromat in a re-gentrified neighborhood on the north side of Grand Rapids. Other business interests have now persuaded him to sell both his growing business and his building, which houses his laundromat and two rental properties, (additional $700 per month).
The equipment, which is less than three years old, cost in excess of $120,000, and has 2 more years to go on warranty. While the owner spends less than 7 hours per week overseeing the operation, the last two years sales have averaged $220,000 with average cash flow at $102,000. Opportunity for additional revenue and cash flow are evident based upon historical results.
Owner is selling the business for $395,000 and real estate for an additional $200,000. But bring all offers. This is a great business for either an active operator or a passive investor.
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