Coin Op Laundry – No Competition.
This outstanding, one of a kind, coin op laundry is located in the heart of Mt Vernon, in one of the busiest strip malls, and has no competition. It has been established for over 16 years, all of them very profitable, and has built a reputation on its services, reliability, fair pricing, and family friendly environment. This is the only coin op laundry in the area with a full time attendant available on the premises. This gives the customers a feeling of security and a warm and friendly face to associate with the business. The business is spotless and shows real pride of ownership. For over 14 years the business has had a drop shop for dry cleaning and the business also offers wash/ fold and wash/dry and fold services for the customers. The business is open 7 days a week from 7 AM – 10 PM, the current owner only works 8 hours a week. The business really needs an owner operator. The business is totally kid friendly with a TV, movies, and games for the kids to watch while their parents do their laundry. There are 36 washers (34 are almost brand new 40 pounders, there are also 18, 30, and 50 lbs); 24 dryers (12 almost brand new, they are 30 pounders); One extractor (the only one in the area); an ATM machine, a new soap bar; 3 laundry bars; a pop machine; a totally new security system; and a coin machine. The gas boiler is only 6 years old. This is an outstanding lease that runs, with options, until 2020. The Seller is willing to finance this business with 60% down, 5 year term, @ 6% interest. The Seller is retiring.
The business occupies 2000 square feet and has the main operational laundry facility room, the office, a drop shop area, and the boiler room. There is lots of parking in the surrounding area of the strip mall and the business is totally spotless, showing true pride of ownership. The total monthly rent is $2256 a month (no annual increase) and the Lease runs till 2020 and has a 5 year option to extend the term.
There is no competition anywhere in the area and the business is centrally located in downtown Mt Vernon and has been in the same location for over 16 years serving the customers of the area. This is like a neighborhood gathering place for family to bring their kids and meet and greet.
This is a turnkey business that only needs an owner operator who will add that personal touch to it. About the only thing a new owner could add is a pick and delivery service to the local area.

Posted Apr 7, 2016

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