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    732 E Oldtown Road

    CUMBERLAND, MD 21502
    • $975,000
    • STATUS: Active
    • ON SITE: 87 days
    • ID#: MDAL2000160
    UPDATED: 52 min ago
    $975,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Business Opportunity
    Built:
    1953
    County:

    School Ratings & Info

    Description

    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!"

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    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Executives. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-09-27T20:50:22.1.
    www.bruceandtanya.com/homes/118898681
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    732 E Oldtown Road CUMBERLAND, MD 21502

    • Price: $975,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: MDAL2000160
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    1953
    Built
    Neighborhood:
    Mapleside
    County:
    Allegany
    Area:
    S Cumberland - Allegany County (Mdal2)
    School District:
    Allegany County Public Schools
    Property Description
    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!"
    Exterior Features

    Construction Materials BlockBrickBrick VeneerConcreteGlassMasonryOther Door Features Sliding Glass Garage YN No Parking Features Paved ParkingSurfaceUnassigned Parking Types On StreetOff SiteOther Property Condition Excellent Riparian Rights YN No Road Responsibility City/County Road Surface Type Access - On GradeBlack TopPavedOther Roof FlatRubberBuilt-Up Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 7599.00 Cooling Central A/CHeat Pump(S)Multi UnitsRoof MountedZonedOther Exclusions None. Flooring CarpetCeramic TileVinylOther Heating Forced AirHeat Pump - Electric BackupHeat Pump - Gas Backup Heating YN Yes Inclusions Listing includes BuildingAll Assets For Chrisclean Laundromat Plus All Assets Of Chrisstudio Photo Studio And Retail Plus B2b Photo Processing. Details Of All included Ff&E Appear in Documents. Security Features Electric AlarmExterior CamerasFire Detection SystemSecurity SystemSurveillance Sys

    Property Features

    Acceptable Financing CashConventionalNegotiable Accessibility Features Level Entry - MainMobility ImprovementsOther Assessment Year 2021 Association YN No Builder Name Christopher/Hillegas Business Name Chrisclean And Christudio Business Type Other Central Air YN Yes Cooling Fuel Electric Cross Street Edgevale Av Current Use Other Electric 200+ Amp Service Foundation Details Slab Gross Income 275000.00 Heating Fuel ElectricNatural Gas Hot Water Natural GasElectricOther Internet Services CableDslSatelliteBroadband Lease Considered YN No Municipality Cumberland Navigable Water YN N Net Operating Income 148000.00 New Construction YN No Original MLSNumber 800814774352 Ownership Interest Other Possession Settlement Property Sub Type Special Purpose Sale Type StandardOther Sewer Public Sewer Tax Annual Amount 4512.00 Tax Assessment Amount 252767.00 Tax Lot 34 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileCommuter Lots Less Than 5 MilesCommuter Rail Station 1 To 5 Miles Utilities Cable TvNatural Gas AvailablePhoneSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning B-L Zoning Description Business Local - Detail Available At City Of Cumberland Website. Many RetailOfficeService Businesses Are Permitted.

    Listing courtesy of Long & Foster Real Estate, Inc..


    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Executives. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-09-27T20:50:22.1.
     
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