The Bottom Line
If you're shopping for a laundromat right now, Florida and California offer the best value based on February 2026 listing data. Median revenue multiples of 1.30-1.63x are well below the historical 2-3x range you'd expect for stable cash-flowing businesses.
Arizona is the most expensive market ($599K median), while Florida remains the cheapest ($372K median) with 8 active listings.
The standout finding: One North Hollywood, CA listing at $295K claims $550K annual revenue — a 0.54x revenue multiple that's either the deal of the decade or a red flag requiring serious due diligence.
The Top 6 Deals Worth Your Time
These scored highest on our deal quality model (strong multiples, healthy margins, reasonable entry prices):
1. St Petersburg, FL — $350K ⭐ TOP PICK
- Revenue: $215K/yr | NOI: $105K/yr | Margin: 49%
- Multiples: 1.63x revenue, 3.33x NOI
- Why it wins: Strong NOI return, healthy margin, Florida's business-friendly climate
2. Florida, FL — $199K
- Revenue: $144K/yr | NOI: $43K/yr
- Multiples: 1.38x revenue, 4.63x NOI
- Why it wins: Lowest entry price, rent <25% of revenue
3. North Hollywood, CA — $295K ⚠️ VERIFY NUMBERS
- Revenue: $550K/yr | NOI: $170K/yr
- Multiples: 0.54x revenue, 1.74x NOI
- Why it's suspicious: Insanely low multiple — could be underreported taxes or a motivated seller. Due diligence essential.
4. Clearwater, FL — $350K
- Revenue: $142K/yr | NOI: $80K/yr | Margin: 56%
- Multiples: 2.46x revenue, 4.38x NOI
- Why it wins: Highest margin in the dataset
5. Fort Worth, TX — $350K
- Revenue: $265K/yr | NOI: $75K/yr
- Multiples: 1.32x revenue, 4.67x NOI
- Why it wins: Texas has no state income tax, strong population growth
6. New York, NY — $239K
- NOI: $77K/yr | Equipment: 26 washers
- Multiples: 3.11x NOI
- Why it wins: Cheapest NYC-area entry, $9K/washer is below market
Data Source & Scope
This analysis covers 59 active laundromat listings scraped in February 2026 from BizBuySell, BizBen, and direct broker sources.
| State | Listings | % of Total |
|---|---|---|
| California | 21 | 35.6% |
| Texas | 13 | 22.0% |
| New York | 11 | 18.6% |
| Florida | 8 | 13.6% |
| Arizona | 5 | 8.5% |
| Colorado | 1 | 1.7% |
Pricing Benchmarks: What You Should Expect to Pay
National Medians (February 2026)
| Metric | Median | Mean | Range |
|---|---|---|---|
| Asking Price | $499,250 | $862,496 | $30K - $5.8M |
| Revenue Multiple | 1.63x | 3.77x | 0.54x - 17x |
| NOI Multiple | 4.63x | 5.35x | 1.74x - 13.42x |
| Price per Washer | $18,786 | $21,368 | $4,167 - $43,261 |
| Price per SqFt | $180 | $225 | $52 - $510 |
Key takeaways:
- Revenue multiples are compressed. Median 1.63x is below the 2-3x historical norm, suggesting either a buyer's market or inflated revenue claims on cheaper listings.
- NOI multiples tell a different story. Median 4.63x means you're paying ~5 years of net income — reasonable for a cash business with 5-10 year lease terms.
- Price per washer is your reality check. $18K/washer median helps you spot overpriced equipment scenarios (anything above $35K/washer needs justification).
Geographic Breakdown: Best & Worst Value Markets
Most Expensive States (Median Asking Price)
- Arizona — $599,500 (5 listings)
- Texas — $544,000 (13 listings)
- California — $512,500 (21 listings)
- New York — $499,500 (11 listings)
- Florida — $372,500 (8 listings)
Best Value States (Revenue Multiples)
| State | Median Revenue Multiple | Median NOI Multiple |
|---|---|---|
| California | 1.30x* | varies |
| Florida | 1.63x | varies |
| Texas | 9.16x** | varies |
*California's median is skewed by the North Hollywood outlier (0.54x). Excluding that, CA multiples range 2.05-2.64x.
**Texas median is skewed by one $1.7M listing at 17x revenue. Excluding outliers, Texas deals cluster around 1.3-4x revenue multiples.
Florida wins on absolute price ($372K median) with reasonable multiples. California shows the widest variation in multiples (0.54x–2.64x), suggesting significant regional differences within the state.
Valuation Quick Reference
Revenue Multiple Rules of Thumb
- <1.5x: Investigate immediately (distressed? underreported?)
- 1.5-2.5x: Fair value for stable cash business
- 2.5-4x: Premium location, strong systems, growth potential
- >4x: Red flag unless real estate is included
NOI Multiple Rules of Thumb
- <3x: Excellent return (33%+ cap rate)
- 3-5x: Market rate (20-33% cap rate)
- 5-7x: Expensive but justifiable for absentee/turnkey
- >7x: Walk away (unless land is included)
Price per Washer Sanity Check
- <$10K: Older equipment or great deal
- $10-25K: Normal range for mixed-age stores
- $25-35K: Recently retooled, premium equipment
- >$35K: New construction or overpriced
What's Missing From This Data
Critical limitations to acknowledge:
- Only 7 of 59 listings reported revenue multiples — most brokers hide this calculation
- Self-reported financials — no verification of P&L accuracy
- No demographic overlays — we can't score neighborhoods without census data
- Lease terms unknown — a 2-year lease at 1.5x revenue is worse than 10-year lease at 2.5x
- Equipment age gaps — price per washer means nothing without machine condition
This report is a starting point for screening, not a substitute for due diligence.
Methodology
- Data collection: February 1-28, 2026
- Sources: BizBuySell, BizBen, direct broker listings
- Filters: Active status only, laundromat/coin laundry classification
- Analysis: Python/pandas for statistical aggregation
- Geographic scope: Continental US (no Hawaii/Alaska listings)
What's Next
March 2026 tracking is live. We'll publish monthly reports to track:
- Seasonal pricing trends (does inventory grow in summer?)
- Multiple compression/expansion over time
- Market-specific opportunities as they emerge
Want this data delivered monthly? Sign up for the PassiveMats newsletter — we'll send the full spreadsheet to subscribers.
Data as of March 4, 2026. Listings change daily — verify availability before pursuing. This is market analysis, not investment advice.