Newer Laundromat for sale in South East Metro Suburb of MSP SOLD

Newer Laundromat for sale in South East Metro Suburb of MSP SOLD - SOLD

Business Name:

Cedar Grove Laundry

Asking Price:

879,000

Categories:

Other, Retail, Service

Reason For Sale:

Retirement

Posting Date:

05/10/2021

Gross Sales:

260000

Cash Flow:

160000

Facility:

The business operates in 2298 leased square feet and the current lease has over 32 years remaining with the Tenant Options. This is an excellent lease and is a very valuable component of the Business. There are timed locks to automatically open and close the store every morning and evening. A security system is in place so owner can remotely monitor the facility as needed.

Employees:

1pt

Listing ID#:

8431mt

This business is a coin operated laundromat located in a South East Metro Suburb of Minneapolis/St.Paul. The current owner has kept a clean and well-maintained store with high capacity machines, credit card and loyalty program in place, and a loyal customer base. There are 9 double-stack 30lb Dryers, 2 double stack 45lb Dryers, and 2 80lb Dryers. There are 25 Washers ranging from 25lb to 80lb capacities, with the majority 40lb or larger. The facility is located in a nice strip center on the primary business corridor of a busy Business District. The Laundromat is partially tended. Wash and fold services could be added to the laundry Business to spur growth. A new owner could also increase advertising and develop community relations to increase Revenue.

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