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Property profile & analytics
FOR LEASE
Commercial real estate

120 Cedar Grove Ln Somerset, NJ 08873

3,500 SF 14.18 ac lot Built 1988
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US59-1513805
Property summary
AI-generated overview

This exceptional business opportunity presents a thriving dry cleaning establishment located at 120 CEDAR GROVE LANE, Somerset, NJ. Priced at $100,000, this turnkey operation boasts a substantial existing clientele, comprehensive inventory, and significant goodwill. Services offered include dry cleaning, wash and fold, alterations, and pressing, ensuring a diverse revenue stream. The sale includes all inventory, equipment, a fully functional point-of-sale (POS) system, and the established customer base. Detailed financial information and operational specifics are available upon request for qualified buyers. The owner is prepared to provide training to ensure a smooth transition for the new owner. This prime location within Franklin Township benefits from high visibility and proximity to other established businesses, ensuring consistent customer traffic. The property enjoys convenient access to major roadways, including Routes 287 and 27, making it easily accessible for both customers and employees. This is a rare opportunity to acquire a well-established, profitable business with significant growth potential. Serious inquiries only.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1988
Total area 3,500 SF
Lot 14.18 ac (617,811 SF)
Zoning code CR
APN 08 00424- 10-00302
UPID US59-1513805
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$570k
CAP Approach CAP
$905k
Comparable Approach Comparable
$763k
Blend (final) Blend
$745k
Owner & transaction history
Cegrove Associates LLC · 2 yrs held
Cegrove Associates LLC
since 2024
6 recorded transactions
2024
Price N/A
2023
Price N/A
2022
Price N/A
2017
Price N/A
2014
Price N/A
1969
Price N/A
Zoning & alternative use
CR · Somerset, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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