Owner-Operator Investment Opportunity -Dry Cleaning Business with Real Estate & Parking- DELIVERED VACANT |
 | Listing ID: 117
Last Updated: 03 19, 2025
Property Type(s): Retail-Commercial (Other)
Property Use Type: Business
Contact : Andrew Lichtenstein,
President
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999
Email: AL@LichtensteinRE.com |
| Make an offer to buy this property |
| Contact |
Andrew Lichtenstein,
President
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999
Email: AL@LichtensteinRE.com
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| Price |
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| Asking Price: $ 850,000 | Opinion of Value: $ 1,550,000 | | Down Payment: $ 0 | Year Built: 1957 |
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| Property Size |
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| Existing Built Square Footage: 1,488 Sq.Ft | Land Plot Lot Size: 2,976 Square Feet | | Lot Frontage: | Lot Depth: | | Number of Units: 1 | Percent Occupied: 1 % | | Investment Type: | |
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Attachments |
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Property Details |
| Property Description : | This is a one-story building with an on-site dry-cleaning operation and 5 parking spaces. It consists of a 1,488 sq. ft. building on a 2,976 sq. ft. lot. Delivered Vacant. | | Property Notes : | Seller’s Required Terms of Sale – Non-Negotiable
1. As-Is, Where-Is Sale:
o The property and business are sold strictly "as is, where is", with no representations or warranties from the seller.
o The buyer acknowledges that the dry cleaning industry inherently involves chemical usage and accepts all risks associated with potential environmental concerns without reliance on seller disclosures.
2. No Environmental Investigation or Reports:
o The buyer waives any right to conduct environmental assessments, reports, or investigations.
o The only permitted due diligence is a physical walk-through inspection of the premises.
3. Buyer Qualifications:
o The buyer must be an experienced dry-cleaning owner-operator familiar with industry risks.
o Preferably no first-time dry cleaning business buyers or passive investors.
4. All-Cash Purchase & Immediate Closing:
o No financing, no contingencies. The buyer must provide verifiable proof of funds demonstrating sufficient cash in the bank to close immediately.
o Seller will not entertain financing, lender approvals, or third-party underwriting as banks typically do not lend on dry cleaning businesses or properties.
5. Inseparable Sale of Business & Real Estate:
o The business and real estate are sold together as a package; they cannot be purchased separately.
6. Immediate Closing Requirement:
o The buyer must be prepared to sign and close immediately upon agreement of terms.
By proceeding with the transaction, the buyer acknowledges and agrees to all non-negotiable terms set forth above | | Property Location : | Jamaica Queens | | Highlights : | |
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Property Financials |
| Annual Income | Analytical Calculations |
| Scheduled Gross Income, Annually: | $ 234,299 | Gross Rent Multiplier: | 4 | | Less Vacancy & Collection Loss Assumption: | $ 0 | Capitalization Rate: | 0.20901882352941176 % | | Reimbursement: | $ | Cash on Cash Return: | % | | Other Income: | 0 | |
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| a. Effective Gross Income, Annualy: $ 234,299 | |
| Annual Expenses | Analytical Calculations |
| RE Taxes | $ 17,000 | Expenses per unit: | $ 62,633 | | On-Siter PM Payroll | $ 14,400 | Expenses per square foot: | $ 42.09 | | Operations R&M | $ 1,500 | Price per unit: | $ 850,000 | | Facility R&M | $ 5,000 | Price per square foot (building): | $ 0 | | Utilities | $ 15,300 | Price per area of land plot: | $ 286 |
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| a. Total Annual Expenses: $ 62,633 | |
| Annual Net Financials |
| c. Net Operating Income, Annually | $ 177,666 | | d. Annual Debt Service: | $ 0 | | e. Other Annual Capital Costs: | $ 0 | | Pre Tax Cash Flow, Annually | $ 0 |
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Financing Information |
| This Loan is | | Principal: | $ 0 | | Interest Rate: | % | | Loan Amortization: | Years | | Loan Term: | Years | | Annual Debt Service: | $ 0 | | Description: | |
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Tenant Information |
| Tenant Name | Lease End (i.e. mm/dd/yyyy) | square feet | | | | Lease and Escalation:
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Property Attachments |
Attachment
(click to open / enlarge) | | Description | | Dry Cleaners Plus Real Estate |
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Disclaimer |
The statements, figures and information herein or provided at any time have been received from sources we believe to be authoritative, but no warranty, guarantee or representation is made as to the accuracy or completeness. Subject to errors, omissions, change of conditions, price, terms, rate, prior rental, sale, lease, financing, prior placement, withdrawal, cancellation or modification without notice. The information, including financial analysis does not constitute a representation, warranty, or guaranty of any or the numbers or information set forth herein or of any economic value attributable to the subject investment. Independent estimates of financial or economic attributes should be developed with due diligence of counsel and independent professionals before any decision is made regarding this. The materials and information do not constitute an offer or a solicitation of an offer for the purchase or sale of any securities whatsoever or in any companies affiliated herein. Furthermore, this site may contain information and press releases about and by affiliates; however, although this information was believed to be accurate as of the date prepared we hereby disclaim any duty or obligation to update such information. To the extent that any information is deemed to be a 'forward looking statement' as defined in the rules and regulations of the Securities Act of 1933, as amended, such information is intended to fit within the 'safe harbor' for forward looking information and is subject to material risk factors which may or may not be disclosed herein. We do not intend to make any investment representations about or any companies affiliated with us, or of opportunities and should not be viewed as such. Buyers/Borrowers must perform their own independent due diligence. References to square footage or age are approximate. This summary is for information only and does not constitute all or any part of an offer or contract. Buyer must verify all information and bears all risk for any inaccuracies. Broker does not warrant any inaccuracies; pricing, availability etc. is subject to change.
ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing |
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