4 Lake Street Richfield Springs, NY 13439

Located at 4 Lake Street in Richfield Springs, NY, this mixed-use investment property is the closest laundromat to Cooperstown. The building has a total size of 3,640 square feet, with the laundromat occupying approximately 1,500 square feet. A significant investment has been made in new equipment, including two new 30-lb Speed Queen washers, five new Speed Queen top-load washers, seven Continental ExpressWash 22-lb machines, and ten commercial dryers, as well as a vending machine and two change machines. The property benefits from high demand due to its proximity to Cooperstown, serving over 300,000 annual Hall of Fame and tournament visitors, and a strong Airbnb/VRBO market with over 400 rentals within 15 miles. The property also includes two rental units that provide a stable recurring income. There is an opportunity to add wash-and-fold service, commercial linen accounts for Airbnbs and rentals, improve signage and curb appeal, and increase machine count in the 500-700 square feet expansion space. The laundromat generates approximately $30,000 per year with no marketing, wash & fold, and minimal visibility. The property includes a 3-bedroom apartment renting for $1,000 per month and a studio apartment renting for $750 per month, totaling $21,000 per year in residential income. Tenants pay for heat, electric, and hot water. The gross income is approximately $51,000 per year, with estimated expenses of approximately $20,000 per year, resulting in a net operating income of approximately $31,000 per year.