Mixed-Use Dry Cleaning
For Sale
$850,000
69-69 Main St., Sayreville, NJ 08872
Turnkey dry-cleaning and alterations business with an attached second-floor residence and private entrances.
Property Size2,320 SF
Price / SF$366.38
Days on Market61
Property Features for 69-69 Main St.
General Information
Standard status
Active
Size
2,320 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,070
Amenities
Central air
Asphalt Roof
Central Heating
Concrete Flooring
Driveway
Radiators-Steam Heating
Tile Flooring
Wall Unit(s) Cooling
Window Unit(s) Cooling
Wood Flooring
Building Details
Year Built
1930
Listing Agency:
COLDWELL BANKER REALTY
(908) 735-8080
Listed By:
DONALD RICARD
(908) 879-4900
Source:
Corcoran
Added: Jul 7
Changed: Sep 4
Last Checked: Sep 5 at 10:33AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This mixed-use property is being sold turnkey together with an operating dry-cleaning and alterations business. The commercial space is fully operational, and the offering includes the business and the building as part of a single sale. The second floor features a spacious owner’s residence with a living room, kitchen, full bathroom, and three bedrooms, along with a private front and rear entrance.
The property is located on Main Street in Sayreville, New Jersey, with easy access to major highways and nearby shopping and dining.
A one-car garage is included, providing additional convenience and storage for the residence. The current owners have operated the business for many years and are now retiring, making this a direct acquisition opportunity for an owner-operator or investor seeking an established, income-producing operation.
The property is located on Main Street in Sayreville, New Jersey, with easy access to major highways and nearby shopping and dining.
A one-car garage is included, providing additional convenience and storage for the residence. The current owners have operated the business for many years and are now retiring, making this a direct acquisition opportunity for an owner-operator or investor seeking an established, income-producing operation.
Key Highlights
- Mixed‑use commercial property with an operating dry‑cleaning and alterations business sold together with the building
- On‑site business includes a thriving, long‑standing dry‑cleaning and alterations operation with a loyal customer base
- No direct dry‑cleaning competition reported within approximately a 3‑mile radius
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,496
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$709,920
$709.9K
Cap Rate 7%
$507,086
$507.1K
Cap Rate 9%
$394,400
$394.4K
Market Conditions
NOI Build-Up for 2,320 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.6K $30.00/SF
− Vacancy
−$22.3K −$9.60/SF
EGI
$47.3K $20.40/SF
− OpEx
−$11.8K −$5.10/SF
NOI
$35.5K $15.30/SF
Area
Middlesex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$709,920
Cap Rate 7%
$507,086
Cap Rate 9%
$394,400
Alternative Uses
Best Use
Office B
$507.1K
$443.7K – $591.6K
NOI $35,496 @ 7.0% cap · market cap 4.18%
Second Best
Retail
$473.1K
$413.9K – $551.9K
NOI $33,114 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$605.8K
$530.1K – $706.8K
NOI $42,406 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
Explore this area
Business Placement
Demographics for 08872, NJ
20,351
Population
7,837
Households
2.6
Avg Household Size
39
Median Age
36%
College-Educated
90%
High-School Grad
9.5 sq mi
ZIP Area
2,142
Density / Sq Mi
$97,204
Median Household Income
$50,654
Median Earnings
$1,594
Median Rent
$404,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Turnkey dry-cleaning and alterations business with an attached second-floor residence and private entrances.
Where is this live-work space located?
The property is located at 69-69 Main St. Sayreville, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Mixed‑use commercial property with an operating dry‑cleaning and alterations business sold together with the building; On‑site business includes a thriving, long‑standing dry‑cleaning and alterations operation with a loyal customer base; No direct dry‑cleaning competition reported within approximately a 3‑mile radius
