Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    81 Somerset St Somerville, NJ 8876

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $925,000

    Turnkey laundromat business for sale with building in Somerville.

    Type:Commercial
    Property size:
    6,000 SF
    Lot size:
    0.15 Acres
    Added:
    Nov 18, 2024
    Days on Market:
    518
    Last Refresh:
    Apr 5 at 9:08 pm

    Property Features for 81 Somerset St

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Lot size
    0.15 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    TIM DELUCCIA

    Listing agent TIM DELUCCIA

    Listing office BHHS FOX & ROACH

    Listing date Nov 18, 2024

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of BHHS FOX & ROACH

    Overview

    Established Laundromat Business and Building

    This is an opportunity to acquire a well-established, profitable laundromat business, along with the building it occupies. The property is situated in the center of downtown Somerville. The business benefits from a high volume of both drop-off and self-service customers. There is potential to expand the washer units. The property offers the possibility of adding a second-floor apartment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.6229
    Latitude
    40.5697

    Nearby Similar for Sale

    • $2,950,000
      10,857 SF

      Retail Building with Warehouse Space

      Freestanding retail building with warehouse in high-visibility location.
      906 Us Highway 22, Somerville Boro, NJ 08876
      View Details
    • $850,000
      4,500 SF

      Medical Building Near RWJ Hospital

      Medical building with finished space and unfinished lower level.
      Somerville Boro, NJ 08876-3006
      View Details
    • $94,900
      10,000 SF

      Renovated Office Condo in Somerville

      Newly renovated 800 SF office condo near downtown Somerville.
      10 N Gaston Ave, Somerville Boro, NJ 08876
      View Details
    • $99,000
      10,000 SF

      Somerville Office Condo For Sale

      1,200 SF office condo in desirable Somerville location.
      10 N Gaston Ave, Somerville Boro, NJ 08876
      View Details
    • $14
      45,376 SF

      Branchburg Light Industrial/Manufacturing Facility

      Climate-controlled industrial space on Route 22, ideal for manufacturing.
      3087 Us Highway 22, Branchburg Twp., NJ 08876
      View Details
    • $450
      7,040 SF

      Furnished Offices in Medical Building

      Furnished single offices in a newer medical building for sale.
      72 W End Ave, Somerville Boro, NJ 08876
      View Details
    • $3,125
      26,000 SF

      Somerville Boro Retail/Office Space

      1500 SF B-2 zoned space in prime location.
      30 S Doughty Ave, Somerville Boro, NJ 08876
      View Details
    • $5,500

      Somerville Boro Office Space Available

      3250 sq ft office space, can be demised into suites.
      61 5Th St, Somerville Boro, NJ 08876
      View Details
    • $850,000
      4,500 SF

      Medical Building Near RWJ Hospital

      Medical building with finished space and unfinished lower level.
      282 E Main St, Somerville Boro, NJ 08876
      View Details
    • $1,875

      Remodeled Office Building in Somerville

      Two office units available in remodeled building near downtown Somerville.
      1 Eastern Ave, Somerville Boro, NJ 08876
      View Details
    • $550,000

      Somerville Duplex Investment Opportunity

      Charming duplex in Somerville, ideal for investors or owner-occupants.
      56-58 Hamilton St, Somerville Boro, NJ 08876-2926
      View Details
    • $200,000
      2,800 SF

      Established Hair Salon Business Opportunity

      Turnkey hair salon business for sale in Manville Boro, NJ.
      Unknown, Manville Boro, NJ 08876
      View Details

    FAQs

    What type of property is this?
    Retail space - Turnkey laundromat business for sale with building in Somerville.
    Where is this retail space located?
    The property is located at 81 Somerset St Somerville, NJ.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: Turnkey, well‑established, and profitable laundromat business.; Includes the building in the sale.; Prime downtown Somerville location.
    (732) 469-1515
    We can help!
    Listing Contact
    TIM DELUCCIA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!