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Laundromat & Lotto With Property
Location New Jersey,United States
Asking Price Range < $250K
Gross Revenues $148000
Net Profit / Cash Flow $55000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1975
Number of Employees 1 - 3
Inventory $170,000 equipment & $1,000 inventory.
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Training The seller will remain post closing for two weeks in order to supply a transitional period.
Reason for Sale The seller has a full time job, resides out of the area and cannot continue to maintain the business.
Description Excellent business opportunity to own this profitable Laundromat with the real estate in a safe, active commercial area of Essex County, NJ. The business has a gross income of $148,000 and a net income of $55,000 after all expenses including debt service. The business has two employees who will remain at the business post closing. This city has a moratorium on any new Laundromats which will continue to limit any new competitors. The real estate has an appraised value of $203,400 and the business has a value of three times the net income which reflects a selling price below market value. The seller has a full time job, resides out of the area and cannot continue to maintain this business obligation. Based on the asking price, required down payment and net income this business should supply a 40%% return to the owner operator prior to debt service. This is a solid opportunity that offers a consistent dependable income with real estate and business opportunity. The facility consists of 1,400 square feet in commercial building, an enclosed office, with good equipment which also includes a new boiler. The business has a bright clean image and all equipment is in working condition. The facility has been designed for easy repair service for the equipment.
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