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Businesses For Sale > Business For Sale in Essex Co., New Jersey (NJ)

Laundromat with S Rental Apt. for sale in Essex Co., NJ

Essex Co., New Jersey (NJ)

Asking Price: Gross: Cash Flow:
$ 1,000,000 $ 171,800 $ 46,000

Inventory Value:
$ 600 (not included in the asking price)

Real Estate:
$ 750,000 (included in the asking price)

Business Summary:
9,000 sq ft. site, 2,000 sq ft. Laundromat plus 5 rental units, Building appraises $700,000 rental income $67,8000 ($46,000 cash flow) after Expenses & Taxes. Equipment 2 yrs old, Maytag 3yr warranty left 9 DBL Stacked dryers (18) washers 10(18lbs) 7(30lbs) 4(50lbs) Complete Monitoring system 8 cameras in building. Bill to Bill card system, 2 TV’s, 5 scales plus all equipment. Building is 3 floors, completely rebuild 4yrs ago has 1 apt 1st floor 900 rent 2nd floor (2)1,000 +1,250, 3rd floor 1,000 + 1,500 rent all tenants responsible for heat, hot water, electricity, and gas. Last rental increase 2 yrs ago approved for state section 8 all expenses all apartments contain own heat box , boilers wall hung 12,000 taxes. Building in excellent shape has wide alley in back DVR security system around perimeters of building and thru hallways. Wash +Fold only 5% of business.

 

   
Year Business was Established: 1993
   
Number of Employees: 2  
   
Facilities / Terms of Lease: 3 story + 9,000 sq. ft.; newly reconstructed building (4 years) 2,000 sq. ft. Laundromat and 5 rental apartments with 10 feet back, driveway. Street parking has full basement.  
   
Potential Growth/Expansion: No advertising/no promotion doesn’t even promote wash and fold although he has attendants to tend to this task.  
   
Competition: Two other Laundromats in area all the same size. This has newest equipment and less expensive prices.  
   
Owner willing to finance: Owner will grant to qualified buyer 200,000 in financing at negotiable rate of interest and length of time.  
   
Owner willing to train: two weeks.  
   
Reason for selling: Absentee owner in development has to sell off assets.  
   
Seller Reference Number: 3672vm
BusinessMart.com Listing Number: 46052
 

 

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For more info contact:

Larry Bodner

Executive Business Brokers
908-851-9040

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