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29237603
29237626

2345 Warfel Ave, Erie, PA 16503 For Sale

SB
PA PA RM422666, NY NY 10311204226
SBRE - Sherry Bauer Real Estate
Listed by SBRE - Sherry Bauer Real Estate
$1,400,000
184 days on market
Updated 2 days ago
Opportunity zone

Grapevine Laundry & Linens

Details
APN 18-050-089.0-100.00, 18-051-002.0-200.00, -212.00, -211.00 & -210.00
Property Type Business for Sale
Sub Type Business and Building
Square Footage 13,091
Units 2
Class C
Year Built 1964, 1971
Buildings 2
Stories 1
Acreage 0.590
Zoning M-1, R-2 & RLB
Investment Type Owner/User

27% Avg NOI Dry Cleaning & Laundry Business with Real Property

Marketing description

This dry cleaning & laundry business offers immediate cash flow, reduced operational risk, & proven stability. Operating since 2004, Grapevine generates consistent multi-year profitability with ~27% margin (industry averages are ~10-20%), driven by recurring revenue & a diversified revenue stream. Services span dry cleaning, wash & fold, alterations, household textiles, & commercial linen, allowing resilience across cycles. The sale includes all operating assets, equipment, goodwill, & 5 parcels of real property for operational control & long-term value. Established systems, customer mix, & trained staff reduce transition risk leaving clear upside through marketing optimization, commercial account expansion, subscriptions, & route development. Positioned in a dense residential area, the business is well suited for an owner-operator or investor seeking a proven opportunity with scalability. Full financials available with signed confidentiality agreement.

Investment highlights

Multi-year positive NOI of ~27% on average, above industry averages (~10-20%) with strong multi-year sales averages from recurring business.

Sale includes business assets, equipment, goodwill and real property across 5 parcels providing visibility, access, and on-site parking.

Conservative real estate indication approximately $820,000 for buildings only with additional land value not included.

Established in 2004 with trained staff and owner transition support available.

Diversified service lines including dry cleaning wash and fold alterations household textiles commercial linen and route capability.

Documented procedures preventative maintenance and service history that support quality consistency and lower redo risk.

Diversified customer mix of individuals and businesses.

Recurring revenue from strong customer relationships and commercial contracts.

Dense residential area that supports steady weekday and weekend demand.

Equipment included in sale - list available and included in Section 2.

Full financials with signed confidentiality - financial summary in Section 1.

Ample growth opportunities in digital and direct marketing, expanding commercial accounts, subscriptions, and additional revenue streams.

Listing Contacts

SB
PA PA RM422666, NY NY 10311204226
SBRE - Sherry Bauer Real Estate
Listed by SBRE - Sherry Bauer Real Estate

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Additional Information

Name
Sherry Bauer
License
PA RM422666
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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