Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    98 New Rd Somers Point, NJ 08244

    Sponsored
    For Sale
    $549,900

    MULTI_FAMILY - Other - SOMERS POINT, NJ

    Property size:
    3,099 SF
    Lot size:
    0.51 Acres
    Days on Market:
    14
    Last Refresh:
    Jan 21 at 11:06 am

    Property Features for 98 New Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Parking features
    Parking Lot
    Size
    3,099 SF
    Lot size
    0.51 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1952
    Number of units
    4
    Building materials
    Frame, Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeffrey Quintin

    eXp Realty, LLC (866) 201-6210 [email protected]

    Listing agent Jeffrey L Quintin (609) 398-5333 License #9134206

    Listing date Jan 8, 2026

    MLS# NJAC2022384 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Commercial Property, Somers Point

    This commercial property is situated on a highly visible corner lot in Somers Point, New Jersey, with a traffic count exceeding 36,000 vehicles per day. The property offers approximately 3,099 square feet of flexible space within the General Business (GB) zone. The ground floor features an open layout adaptable for separate offices, with two entrances, plus rear retail or office space. The second floor provides additional office space and a full bathroom, suitable for various business applications. The 0.51-acre lot provides ample parking. The GB zoning permits a range of uses, including retail shops, professional offices, restaurants, beauty salons, and health clubs. The property is located across from a Chick-fil-A and Panera Bread, with easy access to major roadways, making it suitable for businesses seeking high traffic and local growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Advanced Dental Concepts, ... Dentist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Somers Point
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.594009
    Latitude
    39.329865

    Nearby Similar for Sale

    • $549,900
      0.51 Acres

      Prime Commercial Property, Somers Point

      Highly visible commercial property with flexible space in Somers Point, NJ.
      98 New Rd, Somers Point, NJ 08244
      View Details
    • $549,900

      Prime Somers Point Commercial Property

      Highly visible commercial property with flexible space in Somers Point, NJ.
      98 New Rd, Somers Point, NJ 08244
      View Details
    • $7,000,000

      Landmark Marina with Restaurant Space

      Marina with 136 slips, boat ramp, and storage spaces.
      910 Bay Ave Ave, Somers Point, NJ 08244
      View Details
    • $8,000,000

      Waterfront Hotel, Restaurant, and Marina

      Unique waterfront hotel, restaurant, and marina in Somers Point.
      800 Bay Ave, Somers Point, NJ 08244
      View Details
    • $7,349,000

      Waterfront Hotel, Restaurant & Marina

      Unique waterfront hotel, restaurant, and marina in Somers Point, NJ.
      800 Bay Ave, Somers Point, NJ 08244
      View Details
    • $549,900

      Prime Somers Point Mixed-Use Property

      High-visibility commercial property with flexible space in Somers Point, NJ.
      98 New Rd, Somers Point, NJ 08244
      View Details
    • $549,900

      Somers Point Commercial Corner Property

      Prime commercial property with flexible space in high-traffic Somers Point.
      98 New Rd, Somers Point, NJ 08244
      View Details
    • New
      $650,000
      1,164 SF

      Renovated Duplex in Coastal Community

      Renovated duplex near Ocean City, NJ, with strong rental potential.
      112 E Pierson Ave, Somers Point, NJ 08244
      View Details
    • New
      $650,000

      Renovated Duplex Near Ocean City

      Renovated duplex in coastal community near local hotspots and beaches.
      112 E Pierson Ave, Somers Point, NJ 08244
      View Details
    • $1,150,000

      Turnkey Brewery Near Ocean City

      Thriving craft brewery for sale in Somers Point, New Jersey.
      705 W New York Ave, Somers Point, NJ 08244
      View Details
    • $7,349,000

      Waterfront Hotel, Restaurant, and Marina

      Unique waterfront hotel, restaurant, and marina in Somers Point.
      800 Bay Ave, Somers Point, NJ 08244
      View Details
    • $789,000

      Mixed-Use Duplex in Somers Point

      Legal duplex with mixed-use zoning in the heart of the village.
      820-822 Shore Rd, Somers Point, NJ 08244
      View Details

    FAQs

    What type of property is this?
    Office space - Highly visible commercial property with flexible space in Somers Point, NJ.
    Where is this office space located?
    The property is located at 98 New Rd Somers Point, NJ.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: - Prime location on a highly visible corner lot with over 36,000 cars passing daily.; - Flexible 3,500 sq. ft. space suitable for various business needs.; - General Business (GB) zoning allows for a wide range of uses (retail, offices, restaurants, etc.).
    (609) 398-5333
    Request Owner's contact information
    98 New Rd Somers Point, NJ 08244
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    98 New Rd
    Somers Point, NJ 08244
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    98 New Rd Somers Point, NJ 08244
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeffrey Quintin
    Real Estate License ID: 9134206
    (609) 398-5333
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.