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    Prime Commercial Building on Shore Road Title is generated by Realmo AI

    717 Shore, Somers Point, NJ 08244

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    For Sale
    $595,000

    Commercial/Industrial - Somers Point, NJ

    Property size:
    2,688 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $221/SF
    Added:
    Dec 1, 2025
    Days on Market:
    167
    Last Refresh:
    May 17 at 9:06 am

    Property Features for 717 Shore

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    PMC
    Interior features
    Generator
    Exterior features
    Sign
    Standard status
    Active
    Size
    2,688 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    10800

    Utilities

    Heating system
    Natural Gas, Zoned (Heating)
    Cooling system
    Central Air, Zoned

    Building Details

    Year built
    1965
    Flooring type
    Carpet, Carpet - Full
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Petretta

    Listing agent Michael Petretta License #2331959

    Listing office KELLER WILLIAMS REALTY JERSEY SHORE oc 903 Bay Avenue, Ocean City, NJ

    Listing date Dec 1, 2025

    MLS# 253462 Listing URL

    Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime 2,688± SF commercial building in Somers Point's Professional Medical Zone.
    • High visibility location on Shore Road with 12k+ vehicles per day.
    • Permitted uses include medical, office, retail service, or restaurant.
    • Located steps from Shore Medical Center and minutes from Ocean City.
    • Adaptable interior suitable for open‑plan concepts.
    • On‑site parking for 8 vehicles.

    Overview

    This 2,688± SF commercial building is located on highly visible Shore Road in Somers Point, New Jersey. Situated steps from Shore Medical Center and minutes from Ocean City, the property is located within Somers Point’s Professional Medical Zone. The property offers exposure, access, and a range of commercial and professional uses. The building features a concrete block exterior and an adaptable interior suitable for open-plan concepts. The 0.1745-acre lot has 50 ft of frontage and 152 ft of depth, with on-site parking for 8 vehicles. Permitted uses include medical and wellness practices, professional offices, healthcare support or administrative services, small-format boutique retail or service operators (such as salon/spa, personal care, wellness, studio, or specialty office), and an enclosed café/restaurant (up to approximately 40 seats based on existing parking). Positioned along Shore Road with approximately 12k+ vehicles per day, this property offers visibility and access to the Shore Road and New Road commercial corridors, as well as the nearby Ocean City bridge. This property is suitable for medical, office, retail service, or restaurant operators.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $462.1K
    NOI $41,586 @ 9.00% cap · cautious / downside scenario
    Moderate
    $594.1K
    NOI $41,586 @ 7.00% cap · market / base-case scenario
    Aggressive
    $831.7K
    NOI $41,586 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $58.1k $21.60
    − Vacancy −$2.6k −$0.97
    EGI $55.4k $20.63
    − OpEx −$13.9k −$5.16
    NOI $41.6k $15.47
    2,688 SF · lease $21.60/SF/yr · vacancy 4.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $594.1K
    $519.8K – $693.1K (±1% cap)
    NOI $41,586 @ 7.0% cap · market cap 6.99%
    Second Best
    Office B
    $562.6K
    $492.3K – $656.4K (±1% cap)
    NOI $39,382 @ 7.0% cap · market cap 6.62%
    Theoretical Best
    Warehouse
    $1.00M
    $875.9K – $1.17M (±1% cap)
    NOI $70,070 @ 7.0% cap · market cap 11.78%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    GWHS Answering Services Telecommunications Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Mainland Veterinary Hospital — 425 Bethel Rd, Somers Point, NJ 08244
    • Somers Point Veterinary Hospital: De Lorenzo Regina C DVM — 1 Braddock Dr, Somers Point, NJ 08244

    Location Insight

    • Map
    • Local Demand
    City
    Somers Point
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.5955613
    Latitude
    39.3142406

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    FAQs

    What type of property is this?
    Medical Office Space - 2,688 SF commercial building in Somers Point, NJ for sale.
    Where is this medical office space located?
    The property is located at 717 Shore Somers Point, 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: Prime 2,688± SF commercial building in Somers Point's Professional Medical Zone.; High visibility location on Shore Road with 12k+ vehicles per day.; Permitted uses include medical, office, retail service, or restaurant.
    (609) 399-5454
    We can help!
    Listing Contact
    Michael Petretta
    Real Estate License ID: 2331959
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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