1. **Population:** Somerset is part of Franklin Township, which has a diverse population of around 68,000 to 70,000 people. This includes a mix of students, families, working professionals, and retirees, contributing to the area’s dynamic environment.

2. **University Proximity:** Somerset is near Rutgers University, with its New Brunswick campus drawing a significant number of students and faculty. This institution has a diverse student population, including undergraduates, graduates, and doctoral students, ranging from late teens to mid-20s and older. Additionally, Raritan Valley Community College is nearby, offering both full-time and part-time programs to over 6,000 students.

3. **Age Demographics:** The local population includes various age groups:
– The 18-24 demographic consists of college students and young professionals.
– The 25-34 age range includes recent graduates and working professionals, who may seek cannabis products for wellness or recreational purposes.
– The 35-54 demographic comprises established professionals, families, and homeowners, potentially interested in both recreational and medicinal cannabis.
– Older residents (55+) may find medicinal cannabis options beneficial, particularly for managing health conditions or improving their quality of life.

4. **Traffic Flow:** Hamilton Street and Franklin Boulevard are key roads serving Somerset:
– Hamilton Street averages between 10,000 to 15,000 vehicles per day, depending on the segment and time of year.
– Franklin Boulevard handles similar traffic levels, with an average of 10,000 to 12,000 vehicles daily.
– The traffic on these roads contributes to the convenience and visibility of local businesses.

5. **Nearby Gas Station:** The property is also near a gas station, which attracts significant foot and vehicle traffic. This proximity can bring a steady flow of potential customers, enhancing the overall business environment.

6. **Cannabis Retail Store:** The cannabis retail store provides the following details:
– Requires proof of funds and an NDA, after which the address will be provided.
– A cannabis tier license approved by both the state and city.
– Building must be purchased for $1,7M
– A cannabis tier 5 license is also available for sale, priced at $650,000
– The property has plenty of parking, providing convenient access for customers.
– The building itself can also be purchased instead of leased, providing an alternative option for interested parties.
– All approvals have been granted. The store now requires the remaining building permits and a build-out for completion.

7. **Perfect Dispensary Location:** The property’s location makes it an ideal spot for a dispensary:
– The proximity to educational institutions, a gas station, and main roads brings a steady flow of diverse customers, supporting a cannabis retail store catering to a broad range of needs and preferences.

8. **Local Environment:** Somerset benefits from its location within Franklin Township, offering a variety of amenities, educational institutions, and commercial areas. The proximity to multiple educational institutions and diverse demographics contributes to a vibrant community.