Prime Commercial Property, Somers
98 NEW Road, Somers Point, NJ 08244
MULTI_FAMILY - Other - SOMERS POINT, NJ
Property size:
3,099 SFLot size:
0.51 AcresPrice / SF:
$177/SF- Added:
- Jan 8, 2026
- Days on Market:
- 129
- Last Refresh:
- May 17 at 11:06 am
Property Features for 98 NEW Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Parking Lot
- Standard status
- Active
- Size
- 3,099 SF
- Lot size
- 0.51 Acres
Taxes and HOA fees
- Tax Annual Amount
- 12505
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
Listing agent Jeffrey L Quintin License #9134206 (609) 398-5333
Listing office EXP Realty, LLC 28 Valley Road unit: 1, Montclair, NJ (866) 201-6210
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.
HighLights
- 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.).
- Located across from new Chick‑fil‑A and Panera Bread.
- Ample parking available.
- Easy access to major roadways.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$504.5K
NOI $45,404 @ 9.00% cap · cautious / downside scenario
Moderate
$648.6K
NOI $45,404 @ 7.00% cap · market / base-case scenario
Aggressive
$908.1K
NOI $45,404 @ 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 Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.9k | $26.76 |
| − Vacancy | −$22.4k | −$7.23 |
| EGI | $60.5k | $19.53 |
| − OpEx | −$15.1k | −$4.88 |
| NOI | $45.4k | $14.65 |
3,099 SF · lease $26.76/SF/yr · vacancy 27.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$648.6K
$567.6K – $756.7K
NOI $45,404 @ 7.0% cap · market cap 8.26%
Second Best
Retail
$425.3K
$372.2K – $496.2K
NOI $29,774 @ 7.0% cap · market cap 5.41%
Theoretical Best
Warehouse
$1.15M
$1.01M – $1.35M
NOI $80,783 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Advanced Dental Concepts, ...
Dental Office
Location Insight
- Map
- Local Demand
- City
- Somers Point
- County
- Atlantic
- State
- New Jersey
- Longitude
- -74.594009
- Latitude
- 39.329865
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Highly visible commercial property with flexible space in Somers Point, NJ.
Where is this office units located?
The property is located at 98 NEW Road 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.).
