How much is this coin laundry worth?

[mnamos]

Here are some details:
Gross $10.5k
Net $2.7k
Been in business for last 12 years.
LL to sign a new 10-yr lease under existing conditions with a 5/5 extension.
I do not have the count on no. of washer and dryers in the premises. I can guess it over 15 units of washer and dryer. The owner owns the soap dispensing machine. The vending machines and video games are owned by vendors who pay him some commisions (don't have details on that).
Owner is really old who wants to retire and sell this to someone.
The business is extremely clean, all appliances are b/w 1 and 3 years old.
There is a coin laundry approx. 1+ mile on each side of this one though this is the cleanest of all and at good location.

Seller wants me to place an offer with $5k deposit and put conditions on it. What offer should I make? What conditions should I put in to this offer? Thanks folks.

[millenniumplus]

Make him an offer? How much is he looking to sell it for? A down -n- dirty straight forward way to come up with
a starting point to make an offer price is to find out value of the assets. This owner needs to clearly define in
writing what his "conditions" are. How would ya finance this? Also, you need to get more detailed info besides
net, gross & lease from him. What is your responsibility as the leasee? How about taxes, insurance, maintenance
cost, gas, electric & water/sewer cost, present contract and commissions from vending/video - is a decent starting
point for you. Maybe someone else can give you a $$$ figure near what this mat is actually worth with the info you
provided, I can't. Is that net & gross "weekly, monthly or yearly?". Does this business have the potential to grow?
You're on the right track as all this stuff starts with performing your do diligence. Good luck!