Excellent opportunity to purchase a laundromat that has been serving a historic Virginia town for over 30 years. The business is ideally situated just off a main thoroughfare with two large off street parking lots. The facility has been recently upgraded with top of the line Dexter laundry equipment. The owner is retiring after a successful run so don't miss out on this opportunity as laundromats like this don't come up for sale very often!
The laundromat benefits from its prominent location nearby both commercial and residential areas in the heart of a bustling retail corridor. This would be a perfect opportunity for a solo owner/operator or as part of a family business. The laundromat has a long track record with solid financials which should allow for a bank/SBA loan, if needed. In addition to the laundromat there are two upstairs apartments, two additional unfinished apartments, and two oversized garages. The cash flow generated by the laundromat in 2019 was $92,892 with approximately $29,800 generated from the real estate for a total cash flow of $122,698 with the A great opportunity to live and work in the beautiful Virginia countryside!
The laundromat is situated in the heart of historic Front Royal, Virginia. The space is approximately 2500 sq ft with 37 washers and 28 dryers. Equipment breakdown is as follows: Dexter T900 x 9 Dexter T600 x 2 Dexter T400 x 20 Dexter T300 x 6 Dexter New Dryers 14 Speed Queen Dryers 14 In addition to the washers and dryers, there is also standard laundromat equipment on site including: 2 change machines, snack and drink vending machine, soap vending machine, a video game, a coin push game, TVs, laundry carts, tables, and chairs.
There is ample room to grow as this is a well-established neighborhood laundry that could benefit from a focus on internet, direct mail, local print promotions, and other advertising to the nearby rental markets.
There is limited direct competition in the industry and market. The laundromat benefits from its outstanding reputation in the area along with its regular and loyal clientele.
Owner is retiring.
Seller will provide necessary training and support.