Office Building with Paved
701 Somerstown Ln Galloway Township, NJ 08205
For Sale
$595,000
SINGLE_FAMILY - Galloway Township, NJ
Property Size3,500 SF
Lot Size0.75 Acres
Price / SF$170
Days on Market105
Property Features for 701 Somerstown Ln
General Information
Property type
Residential
Property subtype
Office
Zoning
CC-2
Parking features
Off Street
Standard status
Active
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12204
Utilities
Heating system
Zoned, Forced Air, Natural Gas
Cooling system
Central Air, Zoned
Water source
Private, Well
Building Details
Year built
1997
Roof type
Asphalt
Listing Agency:
BALSLEY/LOSCO
(609) 646-3207
Listed By:
RICHARD SUTHARD · License #SB-8131477
(609) 226-0400
Added: Apr 17
Changed: Jul 28
Last Checked: Jul 30 at 5:06AM
MLS# 607046
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.
Prime office building totaling approximately 3,500± square feet on a 3/4-acre site. The property includes excellent road-front signage and 17± paved parking spaces. It is currently fully leased to an established company, with lease details available upon signing an NDA. Under the current structure, the landlord pays property taxes and building insurance.
The building is located at the intersection of Rt 9 (New York Rd) and Somerstown Lane in Galloway Township, NJ, and is zoned CC-2 Community Commercial-2.
The offering is presented for either continued ownership with the current tenant or potential end-user occupancy, with the seller referencing interest in renewal and an end-user timeline that extends to summer 2027.
The building is located at the intersection of Rt 9 (New York Rd) and Somerstown Lane in Galloway Township, NJ, and is zoned CC-2 Community Commercial-2.
The offering is presented for either continued ownership with the current tenant or potential end-user occupancy, with the seller referencing interest in renewal and an end-user timeline that extends to summer 2027.
Key Highlights
- 3,500 +/- SF office building on a 3/4‑acre lot at the intersection of Rt 9 (New York Rd) and Somerstown Lane
- Fully leased to a well‑established company (lease details available via signed NDA)
- 17 +/- paved off‑street parking spaces and road‑front signage
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.7k | $26.76 |
| − Vacancy | −$25.3k | −$7.23 |
| EGI | $68.4k | $19.53 |
| − OpEx | −$17.1k | −$4.88 |
| NOI | $51.3k | $14.65 |
3,500 SF · lease $26.76/SF/yr · vacancy 27.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$732.6K
$641.0K – $854.7K
NOI $51,279 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,236 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Office building on a 3/4-acre lot with 17 paved parking spaces and strong road-front signage, fully leased.
Where is this office building located?
The property is located at 701 Somerstown Ln Galloway Township, NJ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,500 +/- SF office building on a 3/4‑acre lot at the intersection of Rt 9 (New York Rd) and Somerstown Lane; Fully leased to a well‑established company (lease details available via signed NDA); 17 +/- paved off‑street parking spaces and road‑front signage
