Updated Medical Office
For Sale
$245,000
408 Bethel Road, Somers Point, NJ 08244
COMMERCIAL/INDUSTRIAL, Somers Point, NJ
Property Size1,200 SF
Price / SF$204.17
Days on Market22
Property Features for 408 Bethel Road
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Off Street
Lot features
Business District, Commercial Park
Directions
Bethel Road to 408, go to Building C Unit #1
Subdivision
Somers Point City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5545
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Flooring type
Carpet
Roof type
Asphalt
Listing Agency:
BALSLEY/LOSCO
(609) 646-3207
Listed By:
RICHARD SUTHARD · License #SB-8131477
(609) 226-0400
Added: Aug 1
Changed: Aug 19
Last Checked: Aug 22 at 4:06AM
MLS# 610500
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,200-square-foot medical office condo at 408 Bethel Road in Somers Point provides a practical clinical layout with a waiting area, reception and business office, multiple exam rooms with sinks, a consultation room, break area with kitchenette, and separate restrooms for patients and staff. Recent improvements include a concrete entry pad, front door, siding, windows, interior paint, cleaned carpeting, and new base molding.
The property has central air, forced-air heating, off-street parking, public water, and public sewer. An asphalt roof and carpeted interior complete the existing improvements, offering a functional setting for medical office operations in Atlantic County.
The property has central air, forced-air heating, off-street parking, public water, and public sewer. An asphalt roof and carpeted interior complete the existing improvements, offering a functional setting for medical office operations in Atlantic County.
Key Highlights
- 1,200 sqft medical office condo
- Multiple exam rooms equipped with sinks
- Separate restrooms for patients and staff
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
$17,581
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
7.18%
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%
$351,620
$351.6K
Cap Rate 7%
$251,157
$251.2K
Cap Rate 9%
$195,344
$195.3K
Market Conditions
NOI Build-Up for 1,200 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
$32.1K $26.76/SF
− Vacancy
−$8.7K −$7.23/SF
EGI
$23.4K $19.53/SF
− OpEx
−$5.9K −$4.88/SF
NOI
$17.6K $14.65/SF
Area
Atlantic County, NJ
Vacancy
27.00%
Lease Rate
$26.76 /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%
$351,620
Cap Rate 7%
$251,157
Cap Rate 9%
$195,344
Alternative Uses
Best Use
Office B
$251.2K
$219.8K – $293.0K
NOI $17,581 @ 7.0% cap · market cap 7.18%
Second Best
Healthcare Medical
$243.0K
$212.7K – $283.5K
NOI $17,012 @ 7.0% cap · market cap 6.94%
Theoretical Best
Warehouse
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08244, NJ
10,535
Population
5,898
Households
1.8
Avg Household Size
47
Median Age
30%
College-Educated
89%
High-School Grad
4.9 sq mi
ZIP Area
2,150
Density / Sq Mi
$67,500
Median Household Income
$38,709
Median Earnings
$1,266
Median Rent
$278,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Mainland Veterinary Hospital — 425 Bethel Rd, Somers Point, NJ 08244
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical suite includes exam rooms, patient and staff restrooms, and a kitchenette.
Where is this medical office space located?
The property is located at 408 Bethel Road Somers Point, NJ.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,200 sqft medical office condo; Multiple exam rooms equipped with sinks; Separate restrooms for patients and staff
