Listing Agency: Howard Hanna Show Phone

Listed By: Brennan Thurber · License #10401321341 Show Phone

Source: Nicholcityrealty

Added: Mar 11 Changed: Oct 14 Last Checked: Oct 20 at 8:21PM

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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 / Yr

$32,968

Cap Rate

3.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$659,360 $659.4K

Cap Rate 7%

$470,971 $471.0K

Cap Rate 9%

$366,311 $366.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,414 SF

Gross rent

$49.2K $14.40/SF

− Vacancy

−$2.1K −$0.60/SF

EGI

$47.1K $13.80/SF

− OpEx

−$14.1K −$4.14/SF

NOI

$33.0K $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 Rate 5%

$659,360

Cap Rate 7%

$470,971

Cap Rate 9%

$366,311

Alternative Uses

Best Use

Retail

$471.0K

$412.1K – $549.5K (±1% cap)

NOI $32,968 @ 7.0% cap · market cap 3.30%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$832.3K

$728.3K – $971.0K (±1% cap)

NOI $58,260 @ 7.0% cap · market cap 5.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Village Laundromat (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Big Box & Wholesale Store Kitchen & Bath Showroom Auto Parts Store Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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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 Street 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