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For Sale: Laundromat, Coin Operated - Profitable, Remodeled - Central Riverside County Area

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Current Status: Active     Posting #: 253242     Last Refreshed: 5/15/19    
Contact: Alan (Owner/Seller) At 951-255-4458 Cell  -  Also Email This Contact Below
Price:  $599,000     Down:  $179,700     Adjusted Net:  Call     Revenue:  Call    
Business Address:  None Given     City:  Banning     Zip:  None Given    
Attributes:  Semi-Absentee Run, Training & Support, For Sale By Owner     Cooperation With Brokers?  Call
Central Riverside County Area Laundromat, Coin Operated - Profitable, Remodeled Business For Sale Laundromat, Coin Operated - Profitable, Remodeled Company For Sale Central Riverside County Area Laundromat, Coin Operated - Profitable, Remodeled Companies For Sale Buy, Sell A Laundromat, Coin Operated - Profitable, Remodeled Business Selling A Central Riverside County Area Laundromat, Coin Operated - Profitable, Remodeled Laundromat, Coin Operated - Profitable, Remodeled Business Opportunity

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For Best Results & Response, Email & Phone This Contact: Alan (Owner/Seller) at 951-255-4458 Cell.

  Description About This Posting: Laundromat, Coin Operated - Profitable, Remodeled
This laundromat is coin operated and has been in continuous operation since 1997. It has a loyal and established clientele. It was beautifully remodeled in June of 2018. It has a well thought out floor plan that has a pleasant, open feeling as you enter. It is the only laundromat in Banning and draws customers from several surrounding cities including Beaumont, Cabazon, White Water, Palm Springs, Desert Hot Springs and some from even as far away as Idyllwild, Yucca Valley, Joshua Tree and 29 Palms. It is located in the Stagecoach Plaza shopping center at the corner of Sunset Avenue and West Ramsey Street. Sunset Avenue is a major off-ramp from the Interstate 10 Freeway which allows quick and easy access from these distant towns. Stagecoach Plaza is the major shopping center for Banning and is anchored by Rio Rancho Market, and three national tenants, Harbor Freight, Dollar Tree and AutoZone. It has ample parking that can accommodate large RVs and even Semi trucks. Everyone can find us on Google maps, Yelp and Waze.

Improvements Made

The current owner has invested heavily in remodeling and upgrading the laundromat. Here is a list of the improvement made:

* Two new roof mounted Evaporative Coolers for the warm summer days
* Two Stainless Steel Diffusers for the Evaporative Coolers
* New flooring
* Beautiful Stainless Steel bulkhead caps
* Two new expanded steel benches
* Four new Formica folding tables
* Beautiful new and tasteful building sign with energy saving LED lights
* Bright new energy efficient LED lighting throughout the entire laundromat
* New toilet and lavatory in remodeled restroom
* Newly installed high capacity, Tankless Water Heating system
* 3 New Dexter 60# machines, 4 New Dexter 40# machines and 4 New Dexter 30# machines
* New plumbing installed for all new washing machines
* New Standard Bill changer which dispenses 3, $5 Bills along with 20 quarters for $20 bills, One $5 bill and 20 quarters for $10 bills, 20 quarters for $5 bills and 4 quarters for $1 bills.
* New Amcrest View camera system with 10 cameras for continuous surveillance of the laundromat
* Up to date interior and entry signage with instructions for using the machines and the laundromat rules.

The laundromat was in a state of disrepair and neglect when the current owner purchased the business at this location and has seen the gross income grow substantially since June of 2018. This revenue growth should continue as long as the new owner continues the management policies of the current owner

Retail Lease Terms

The current owner negotiated a great lease. The common area maintenance portion of the lease payment includes the building maintenance and the taxes and insurance. Building portion of the lease payment is fixed for 10 years. There is over 9 years remaining on this lease and there is a 5 year option with a slight increase that is again fixed for 5 years. The lease currently is only 18% of the gross revenues, well below the norm.

Financing is Available for Qualified Buyers

Financing is available to a qualified buyer with as little as 30% down. Interest rates of 8% to 8.5% and a 5 to 7 year term. (These rates and terms are based upon the credit worthiness and financial strength of the borrower.)

Summary and Contact

The owner will train a new owner/manager and share the contacts necessary for repairs and maintenance. Sparkle Clean Laundromat is a well-managed, well-maintained and Pride of Ownership property. The seller has good books and records. This is a must see!

This information is provided by the seller; they are projections and are not guaranteed. You or your adviser should verify this information as needed and reach your own independent conclusion. This laundromat is subject to prior sale or withdrawal from the market.

To get more information about this Laundromat, Coin Operated - Profitable, Remodeled business for sale in Central Riverside County Area please phone Alan (Owner/Seller) at 951-255-4458 Cell - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #253242 on BizBen.com. In addition to phoning Alan (Owner/Seller), make sure you email Alan (Owner/Seller) above to get more info about this Laundromat, Coin Operated - Profitable, Remodeled, to ask any questions or request an appointment to see this business for sale, franchise, or opportunity. Thank you.

  Related Links And Information Regarding This Posting
Notes
My Posting Notes


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Chuck Post: Laundry Buyer Representation, Consulting, Due Diligence

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Peter Siegel, MBA - SBA Loans, Non SBA Financing Assistance

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Diane Boudreau-Tschetter: Escrow And Bulk Sale Services

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Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses

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Helen Yoo: Escrow & Bulk Sale Services - Southern California

New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.


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Buying A Laundry: Coin Operated Laundromat Or Card Operated Laundromat?

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FREE Online Webinar This Week: For Buyers - How To Buy & Value Laundromats

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