LISTING DETAILS
Listing Status: Sold
Asking Price: $250,000
Total Sales: $144,977
Cash Flow: $60,000
Real Estate Asking Price: N/A
FFE: $150,000
Description
Business Summary:
FF&E Included in Sale: Yes
Inventory Included in Sale: No
Real Estate Included in Sale: No
Year Established: 2004
Employees: 1
Business Summary: Excellent opportunity to own a laundromat in the heart of historic Charlottesville, Virginia. The laundry has recently been upgraded with state-of-the-art Huebsch equipment. There are 30 washers and 16 dryers on site. The business is located in a favorite neighborhood shopping center near downtown with many nearby apartments/condos and residential communities. Major employers include The University of Virginia, Blue Ridge Hospital, Sentara Hospital, U.S. Dept of Defense, and City/County Government offices all located within the service area for this laundry. Post COVID population shifts suggest a bright future for outlying suburban communities like Charlottesville, as more people embrace remote work and enjoy the advantages of a fresh air lifestyle near the Blue Ridge Mountains.
There are solid financials with verifiable P&L statements for review for prospective buyers upon completion of an NDA. The laundry is run unattended with LOW rent and is a complete absentee owner operation. There is room for growth with the addition of wash n fold and or pick up/delivery services. The Charlottesville area has seen significant growth the past decade. Don't miss out on the chance to own a well-known laundromat with an established track record, steady revenue and dependable cash flow.
Description of Facilities: The laundromat occupies a 2000 sq ft space in a small neighborhood shopping center. The space is leased for $2930/month including NNN. There are 7 years remaining on the lease with options available.
Competition: There is standard competition for the industry and market.
Growth & Expansion: The business is currently run on a complete absentee basis so there is substantial growth potential with the addition of wash 'n fold and or pick up/delivery services. A new owner could also choose to be more hands on and active in the business which could help bring in new customers.
Seller Financing Available: No
Reason For Sale: Owner is retiring/moving out of the area.
Seller Support & Training: Seller will provide necessary training and support.
Year Established: 2004
Employees: 1
FF&E Included in Sale: Yes
Inventory Included in Sale: No
Real Estate Included in Sale: No
For more information on this listing, please complete our Non-Disclosure Agreement
