Turnkey Laundromat In High Traffic Location In Hampden County For Sale

Description

Owner-operated laundromat for sale in Hampden County, Massachusetts. The business occupies approximately 2,000 sq. ft. in a busy shopping plaza with a large customer parking lot.

Financials

• Asking price: $490,000
• Weekly gross sales: approximately $8,500
• Annualized sales at that level: approximately $442,000
• Reported annual net income: approximately $100,000
• Base rent: $2,076 per month
• CAM: approximately $444 per month, including taxes
• Total stated monthly occupancy cost: approximately $2,520

Buyers should verify the reported net income and weekly sales through tax returns, card-system reports, coin collections, bank statements and utility bills.

Equipment

• 23 washers
• 21 dryers
• 44 machines in total
• Approximately 75% card operated
• Remaining machines coin operated

The seller states that all machines were refurbished and placed into service approximately 18 months ago. Buyers should review machine age, refurbishment records, maintenance history and remaining useful life.

Facility improvements

The seller reports recent upgrades to several major building and utility components.

• New flooring
• Updated electrical system
• Updated plumbing
• New roof
• Updated venting
• New water heater

Additional revenue

The business also provides wash-and-fold service and has several delivery accounts currently handled by the owner.

A buyer should review the revenue, labor requirements and customer concentration associated with these accounts separately from self-service laundry sales.

Lease

• Approximately three years remaining
• Two additional five-year renewal options
• 2% annual rent increases
• Landlord described as open to negotiating with a qualified tenant

The stated 2,000 sq. ft. facility size should be confirmed with the owner and lease documents.

Due diligence

Buyers should verify historical financials, water, sewer, gas and electric expenses, equipment ownership and condition, card-processing fees, coin revenue, wash-and-fold margins, employee or owner labor, delivery-account terms, lease provisions and any deferred maintenance before closing.

The exact location is available after execution of a confidentiality agreement.