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Opportunity to purchase a busy laundromat with a mixed-use commercial/residential investment property. Business has been at the same location with the same owner for over 30 years and has a steady flow of customers. Laundromat equipment including: 30 dryers, 33 washers, 2 change machines and more! The investment property consists of six rent-able units. There are two commercial spaces, Three 2-bedroom apartments and one 1-bedroom apartment. All spaces are currently rented. Property also includes 20+ car parking lot with two revenue generating, outdoor coin-operated vacuum cleaners. At an 8% cap rate the property alone is worth $698,000. Owner is motivated to sell. We are offering both the Property and laundromat for $595,000!
Real Property Included
Heavily populated area. Located on a corner lot with more than ample off-street parking
Property rents are below market rate and can be adjusted by new owners. Five of the six tenants are tenants at will. Multiple opportunities to grow the laundromat. Current owner does not advertise. New owner could offer coupons and specials to attract new customers, mailers to nearby residents and offer punch cards (free wash after so many visits). Also arcade games, Beer & Wine license (if available from the town), lottery (if approved by the state), coffee sales and more.
whatever is reasonable
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