whitedove
03-31-2005, 11:35 AM
Hi,
I am trying to evaluate a mat. The Mat has 10 SpeedQueen 18lbs and 5 30lbs. It also has 16 dryers. The location is reasonable with all rental units with low-middle income living. There are two laundromats, one about a mile on the same street and another on the parallel street. The gross being mentioned by the seller is around 75K. The mat has an attached conv.store to it. I was able to verify the store details. The rent is taken care by the income from the conv.store.
However, not sure how to verify the mat's income/expenses. From the bills, i see the Gas, electricity, water and sewage add up to $1250 per month. Based on the number of machines and the expenses to run it, Is the gross of 6K per month reasonable? The Mat is open 7 days from 7-9
Any thoughts/comments appreciated.
Thanks,
WD.
I am trying to evaluate a mat. The Mat has 10 SpeedQueen 18lbs and 5 30lbs. It also has 16 dryers. The location is reasonable with all rental units with low-middle income living. There are two laundromats, one about a mile on the same street and another on the parallel street. The gross being mentioned by the seller is around 75K. The mat has an attached conv.store to it. I was able to verify the store details. The rent is taken care by the income from the conv.store.
However, not sure how to verify the mat's income/expenses. From the bills, i see the Gas, electricity, water and sewage add up to $1250 per month. Based on the number of machines and the expenses to run it, Is the gross of 6K per month reasonable? The Mat is open 7 days from 7-9
Any thoughts/comments appreciated.
Thanks,
WD.