Turn-Key Laundromat Business
For Sale
$1,000,000
Pending
369 W Morris St, Bath, NY 14810
Fully equipped laundromat in Bath's business district, ready for operation.
Property Size3,414 SF
Lot Size0.28 Acres
Days on Market164
Property Features for 369 W Morris St
General Information
Standard status
Pending
Size
3,414 SF
Lot size
0.28 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,938
Building Details
Building Size
3,414 SF
Year Built
2012
Stories
1
Listing Agency:
Howard Hanna
(607) 661-5083
Listed By:
Brennan Thurber · License #10401321341
(607) 661-5083
Source:
Elliman
Added: Mar 11
Changed: Aug 11
Last Checked: Aug 20 at 7:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna
Investment Insights
Based on property information with market context.
This commercial property is a purpose-built, fully equipped laundromat located in the business district of Bath. Constructed specifically for laundromat use, the well-maintained building offers over 3,400 square feet of functional space on a .28± acre lot. The property provides accessibility, parking, and visibility in a high-traffic commercial area. Inside, the laundromat features a spacious waiting area, multiple vending options, and public restrooms. It is outfitted with a large number of commercial washers, dryers, and related equipment, all well-maintained and easily serviceable. There is also a dedicated maintenance/utility room and a private office. The facility is optimized for workflow and maintenance. This turn-key business opportunity offers income potential in a well-established location and is suited for investors or owner-operators seeking a proven operation.
Key Highlights
- Purpose‑built laundromat constructed in 2012, ready for immediate operation
- Located in a high‑traffic area within Bath's business district, offering excellent accessibility, parking, and visibility
- Turn‑key business opportunity** with strong income potential
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,833
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$656,660
$656.7K
Cap Rate 7%
$469,043
$469.0K
Cap Rate 9%
$364,811
$364.8K
Market Conditions
NOI Build-Up for 3,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.0K $14.40/SF
− Vacancy
−$2.1K −$0.60/SF
EGI
$46.9K $13.80/SF
− OpEx
−$14.1K −$4.14/SF
NOI
$32.8K $9.66/SF
Area
Steuben County, NY
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$656,660
Cap Rate 7%
$469,043
Cap Rate 9%
$364,811
Alternative Uses
Best Use
Retail
$469.0K
$410.4K – $547.2K
NOI $32,833 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.9K
$725.3K – $967.0K
NOI $58,021 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 14810, NY
11,620
Population
6,110
Households
1.9
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
120.6 sq mi
ZIP Area
96
Density / Sq Mi
$48,613
Median Household Income
$40,031
Median Earnings
$737
Median Rent
$113,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully equipped laundromat in Bath's business district, ready for operation.
Where is this retail space located?
The property is located at 369 W Morris St Bath, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Purpose‑built laundromat constructed in 2012, ready for immediate operation; Located in a **high‑traffic area** within Bath's business district, offering excellent accessibility, parking, and visibility; Turn‑key business opportunity** with strong income potential
