Absentee Laundromat In Manhattan Netting $285,000 - Business for Sale
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Absentee Laundromat with Card Machines in Manhattan, NY
Manhattan, NY, US
Added 7 months ago
Laundromat and Laundry Services
Absentee / Semi-Absentee
This is a 100% absentee-operated laundromat in Upper Manhattan, New York, offering self-service, wash & fold, soap sales, and Amazon delivery commission, with 36 card-operated machines and a 1,100 sq. ft. facility plus basement.
Key Information
Asking
$1.3M
Revenue
–
Earnings
$280K
Multiple
4.5x
Key Highlights
- Business operates 100% absentee
- 36 card machines (19 washers, 17 dryers); washers purchased refurbished a couple years ago, dryers approximately 4 years old
- Lease: $7,315.18/month, 11 years remaining, 3% annual increase, $20,000 security deposit
- Size: 1,100 sq. ft. plus basement (basement used for personal use)
- Employees: 5 total (3 part-time wash & fold, 2 delivery); payroll is mostly cash, 2 employees are 1099
- Expense breakdown: Rent + R.E. Tax $87,782, Payroll $101,000, Utilities $77,000, Delivery $52,000, Dry Cleaning Services $16,424, Soap $24,000, Insurance $5,400, Garbage $4,692, Maintenance $4,800, Phone $1,668
- Business established 27 years ago
Contact Info
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