Laundromat Resource › Forums › Laundromats › How do I know if a laundromat is a good deal? › Reply To: How do I know if a laundromat is a good deal?
All awesome questions! Here’s my input on them.
Laundromats typically are selling at a 3.5-5 multiple of NOI right now. The higher end of the multiple are laundromats that have newer equipment, solid cash flow, established systems, great locations, etc. The lower end are laundromats that have older equipment, need some work, aren’t running optimally, etc.
I don’t know of any great sources of building and designing a laundromat (yet :)). The place to go to ask would be a distributor, probably. They can help with the layout and equipment mix.
Retrofitting a building is definitely possible, but there are complications, such as some of the ones you mentioned. It can be done as long as the landlord signs off, but it can get expensive. The numbers just need to make sense.
Hope that helps some!