Renovated Detached Wellness
For Sale
$574,900
1-16 Roosevelt Blvd, Marmora, NJ 08226
Renovated detached commercial condo on a large lot, with new roof, siding, windows, and HVAC.
Property Size2,194 SF
Lot Size0.66 Acres
Price / SF$262.03
Days on Market95
Property Features for 1-16 Roosevelt Blvd
General Information
Standard status
Active
Size
2,194 SF
Lot size
0.66 Acres
Zoning
Town Center Core
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
CENTURY 21 ALLIANCE-O1O4J
(609) 214-5635
Listed By:
JEFFREY STULL · License #9693735
Source:
Exprealty
Added: May 30
Changed: Aug 31
Last Checked: Aug 30 at 8:40PM
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 CENTURY 21 ALLIANCE-O1O4J
Investment Insights
Based on property information with market context.
This recently renovated detached commercial condo offers a turnkey shell for a service-focused business. Building 16 totals approximately 2,194 square feet and includes multiple interior and exterior upgrades. Improvements cited include a new roof, siding, windows, and new heat and A/C, and the property is currently vacant after being operated as a health and wellness center.
The building sits on a large 155' x 185' lot and is positioned for visibility on one of the primary arteries in and out of Ocean City. North and South Parkway entrances and exits are described as only a few hundred yards away, supporting convenient access for employees and guests.
With its Town Center Core zoning, the space is described as permitting a wide range of uses. That flexibility, combined with its recently updated building systems and health/wellness-oriented configuration, may fit spa and wellness operators, healthcare-related businesses, or office tenants seeking an updated, detached commercial condo ready for occupancy.
The building sits on a large 155' x 185' lot and is positioned for visibility on one of the primary arteries in and out of Ocean City. North and South Parkway entrances and exits are described as only a few hundred yards away, supporting convenient access for employees and guests.
With its Town Center Core zoning, the space is described as permitting a wide range of uses. That flexibility, combined with its recently updated building systems and health/wellness-oriented configuration, may fit spa and wellness operators, healthcare-related businesses, or office tenants seeking an updated, detached commercial condo ready for occupancy.
Key Highlights
- Recently renovated detached commercial condo with 2,194 SF in Building 16
- Large 155' x 185' lot with detached commercial condo building
- Updates include new roof, siding, and windows, plus new Heat & A/C
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
$35,886
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
6.24%
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%
$717,720
$717.7K
Cap Rate 7%
$512,657
$512.7K
Cap Rate 9%
$398,733
$398.7K
Market Conditions
NOI Build-Up for 2,194 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
$61.3K $27.96/SF
− Vacancy
−$13.5K −$6.15/SF
EGI
$47.8K $21.81/SF
− OpEx
−$12.0K −$5.45/SF
NOI
$35.9K $16.36/SF
Area
Cape May County, NJ
Vacancy
22.00%
Lease Rate
$27.96 /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%
$717,720
Cap Rate 7%
$512,657
Cap Rate 9%
$398,733
Alternative Uses
Best Use
Office B
$512.7K
$448.6K – $598.1K
NOI $35,886 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$671.6K
$587.6K – $783.5K
NOI $47,011 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08226, NJ
11,229
Population
20,905
Households
0.5
Avg Household Size
57
Median Age
55%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
1,651
Density / Sq Mi
$101,782
Median Household Income
$54,323
Median Earnings
$1,670
Median Rent
$719,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Massage By Bee, LMT — 507 route 9 south, marmora, nj 08223
- All The Feels Healing Space — 507 US-9, Marmora, NJ 08223
- NovaCare Rehabilitation in partnership with AtlantiCare - Marmora — 210 S Shore Rd Suite 203, Marmora, NJ 08223
- Rooted Wellness — 38 Tuckahoe Rd, Marmora, NJ 08223
- Ivy Rehab Physical Therapy — 4 Roosevelt Blvd, Marmora, NJ 08223
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Renovated detached commercial condo on a large lot, with new roof, siding, windows, and HVAC.
Where is this spa & wellness property located?
The property is located at 1-16 Roosevelt Blvd Marmora, NJ.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Recently renovated detached commercial condo with 2,194 SF in Building 16; Large 155' x 185' lot with detached commercial condo building; Updates include new roof, siding, and windows, plus new Heat & A/C
