1654 Eastern Avenue SE, Grand Rapids, MI 49507

Property Description

BUSINESS ONLY - NO REAL ESTATE: A rare and exceptional opportunity to acquire a fully operational, high-volume coin-operated laundromat business in Grand Rapids. Known as Eastern Avenue Coin Laundry, this well-established neighborhood facility features a robust, meticulously maintained commercial equipment inventory totaling 51 major assets, generating steady, reliable daily cash flow. The purchase price includes a comprehensive package of commercial laundry machinery: 22 heavy-duty Speed Queen washers (ranging from 60 lb multi-load heavy-duties to reliable 20 lb front-loaders and top-loaders) and 15 dryer bays (featuring Dexter and Speed Queen stack gas tumblers and high-capacity single-pocket units). Additional included income-generating and operational assets feature a dual-hopper bill changer, a retail ATM, soap and beverage/snack vending machines, a dedicated high-capacity tenant commercial water heater, heavy-duty folding stations, and on-site maintenance equipment. The business operates with trained on-site employees in place to ensure smooth daily management. The physical space is currently leased, with a favorable new lease structure available to be negotiated directly with the building owner at a competitive $1,500/month base rent, providing excellent long-term operating margins. Ideal for an experienced operator looking to expand their portfolio or an investor seeking a turnkey, cash-flowing business asset with great potential for increased revenues. Financials are available upon execution of a non-disclosure agreement. Act fast on this rare West Michigan commercial offering!