Medical Office and Retail
For Sale
$495,000
717 Shore Rd, Somers Point, NJ 08244
Adaptable commercial building on Shore Road with 8 parking spaces and by-right uses for medical, office, retail, and café/restaurant.
Property Size2,688 SF
Lot Size0.17 Acres
Price / SF$184.15
Days on Market102
Property Features for 717 Shore Rd
General Information
Standard status
Active
Size
2,688 SF
Total Parking Spaces
8
Lot size
0.17 Acres
Zoning
PMC
Site & Location
Traffic Count
12,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$11,240
Amenities
Central Air
Central, Natural Gas
Building Details
Building Size
2,688 SF
Year Built
1965
Listing Agency:
Keller Williams Realty Jersey Shore
Listed By:
Michael Petretta · License #2331959
(609) 814-5444
Source:
Evrealestate
Added: May 26
Changed: Aug 27
Last Checked: Sep 4 at 5:11AM
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 Keller Williams Realty Jersey Shore
Investment Insights
Based on property information with market context.
This well-positioned commercial building offers approximately 2,688± SF of adaptable space within a concrete block exterior. The interior can support a range of build-out styles, including open-plan concepts, making it practical for medical, professional office, and service-focused tenants. The property also includes an enclosed café/restaurant component sized for up to approximately 40 seats based on existing parking.
Located on highly visible Shore Road in Somers Point, the building sits just steps from Shore Medical Center and is minutes from Ocean City. It is within Somers Point’s Professional Medical Zone and has approximately 50 feet of frontage with about 152 feet of depth on a 0.1745-acre lot. On-site parking is available for 8 vehicles, and the property is positioned along Shore Road with approximately 12k+ vehicles per day, with convenient access to the Shore Road and New Road commercial corridors and the nearby Ocean City bridge.
The configuration and by-right use flexibility make the building suitable for medical and wellness practices, professional offices, healthcare support or administrative services, and small-format boutique retail or service operators. It can also accommodate specialty office concepts such as salon/spa, personal care, wellness, studio, or specialty office uses. For restaurant operators, the existing enclosed café/restaurant setup supports a capped dining experience aligned with the on-site parking.
Located on highly visible Shore Road in Somers Point, the building sits just steps from Shore Medical Center and is minutes from Ocean City. It is within Somers Point’s Professional Medical Zone and has approximately 50 feet of frontage with about 152 feet of depth on a 0.1745-acre lot. On-site parking is available for 8 vehicles, and the property is positioned along Shore Road with approximately 12k+ vehicles per day, with convenient access to the Shore Road and New Road commercial corridors and the nearby Ocean City bridge.
The configuration and by-right use flexibility make the building suitable for medical and wellness practices, professional offices, healthcare support or administrative services, and small-format boutique retail or service operators. It can also accommodate specialty office concepts such as salon/spa, personal care, wellness, studio, or specialty office uses. For restaurant operators, the existing enclosed café/restaurant setup supports a capped dining experience aligned with the on-site parking.
Key Highlights
- 2,688± SF commercial building on highly visible Shore Road in Somers Point
- 0.1745‑acre lot with 50 ft frontage and 152 ft depth, with on‑site parking for 8 vehicles
- Located in Somers Point’s Professional Medical Zone with by‑right permitted uses for medical and wellness practices
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
$39,382
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
7.96%
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%
$787,640
$787.6K
Cap Rate 7%
$562,600
$562.6K
Cap Rate 9%
$437,578
$437.6K
Market Conditions
NOI Build-Up for 2,688 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
$71.9K $26.76/SF
− Vacancy
−$19.4K −$7.23/SF
EGI
$52.5K $19.53/SF
− OpEx
−$13.1K −$4.88/SF
NOI
$39.4K $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%
$787,640
Cap Rate 7%
$562,600
Cap Rate 9%
$437,578
Alternative Uses
Best Use
Office B
$562.6K
$492.3K – $656.4K
NOI $39,382 @ 7.0% cap · market cap 7.96%
Second Best
Healthcare Medical
$544.4K
$476.3K – $635.1K
NOI $38,107 @ 7.0% cap · market cap 7.70%
Theoretical Best
Warehouse
$1.00M
$875.9K – $1.17M
NOI $70,070 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Medical center - Adaptable commercial building on Shore Road with 8 parking spaces and by-right uses for medical, office, retail, and café/restaurant.
Where is this medical center located?
The property is located at 717 Shore Rd Somers Point, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,688± SF commercial building on highly visible Shore Road in Somers Point; 0.1745‑acre lot with 50 ft frontage and 152 ft depth, with on‑site parking for 8 vehicles; Located in Somers Point’s Professional Medical Zone with by‑right permitted uses for medical and wellness practices
