Active With Contract
MLS Number MDAL2000160
- Address 732 E Oldtown Rd
- Year Built 1953
- Property SubType Special Purpose
- Acreage 0.22
Excellent 7,599 SF Building For Sale includes VERY profitable and state of the art "Chrisclean" Laundry w/Laundromat wash dry fold service. Sale includes all assets of Chrisstudio - ( Portrait Studio, retail photo processing, professional B2B photo lab. Assets only. ) Sellers are looking forward to retirement and possible relocation. YOU WILL RARELY SEE BUSINESS PROPERTY FOR SALE THAT LOOKS AND WORKS THIS NICE! BRING YOUR INSPECTORS! HVAC PLUMBING WIRING ROOF STRUCTURE TIP-TOP.
Laundromat is state of the art high end equipment and building improvements, Laundry alone cost in excess of $500,000 (equipment and building modifications) to complete in 2019. Projected 21/22 Gross of over $275k Annual Gross and over $160,000 net income from Laundry operations. Projected income after paying property tax and insurance for ENTIRE BUILDING (5,200 sf currently not producing net income) is over $148,000! Trailing P&L and bank deposit records to support projection are available. Contact Lister for Confidentiality Agreement to obtain Detailed Historic and Projected Income and expenses. Currently staffed by 2 attendants who provide full service wash-dry-fold laundry while they oversee the laundromat. Almost all Laundry revenue is from credit/debit/prepaid cards and directly deposited to owners bank! Laundromat payment methods: All machines accept credit, debit or a kiosk generated Fascard. There is a Fascard app offering customer discounts, end of cycle notifications, machine availability & restroom access. There is a POS system in place for the Wash Dry Fold department. This is a coinless laundromat. Itemized equipment list, POS software information and renovation costs from 2019 are included in Documents.
All the bells and whistles here - free wifi, cell phone charging/usb ports, TV's central A/C automatic doors, and more!
From the Seller - "Unlimited potential for full service Wash Dry Fold service with an untapped commercial market. Self service continuing to grow every day. A "must see" smart cutting edge Laundromat!"
PHOTO STUDIO& PROCESSING in 5,200 SF - 75 year old family owned business has a strong local reputation for portraits, retail, self serve digital printing, and B2B Professional photo finishing for Local, National and Regional customers. Seller was in the process of closing this business down to prepare for retirement, and the COVID19 shutdowns of 2020 accelerated that process. Photo business is for FACILITY BUSINESS ASSETS ONLY , but everything is there (up to date equipment in a nearly immaculate facility ) to return to profitability with new management and a revised business plan to engage new B2B and retail customers for the studio and lab. THE PHOTOS SPEAK FOR THEMSELVES A detailed list of studio lab and retail assets are in "documents"
Sellers have a long term parking arrangement with the church next door for off street employee and overflow customer parking and will be happy to accept a contingency to get that parking agreement extended for 10+ years.
From the Seller - "Christopher Photo Lab Inc., a 75yr family business, is a professional wholesale photo lab. Pre-digital employed up to 75 and grossed over 2 million in sales. Chrisstudio, the portrait studio division was established in 1980 and still running strong with the areas best reputation & current clientele. A portrait studio with its own full service lab to produce every product it sells at cost!"
Courtesy of Long & Foster Real Estate,Inc.