Three-Story Mixed-Use
For Sale
$2,300,000
110 E Maryland Ave, Somers Point, NJ 08244
MULTI-FAMILY, Somers Point, NJ
Property Size5,860 SF
Price / SF$392.49
Days on Market190
Property Features for 110 E Maryland Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Patio and Porch features
Deck
Exterior features
Bay View, Curbs, Deck, Handicap Access, Sidewalks, Sprinkler System
Accessibility
Accessible Approach with Ramp
Appliances
Burglar Alarm, Disposal, Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Washer
Lot features
Historical District, Water View
Directions
South on Shore Road, Left on Maryland (WaWa-Dairy Queen), past Bay Avenue property on Right
Subdivision
Somers Point City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
30036
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Water front
1
Amenities
wrap-around decks
gas fireplace
alarm system
handicap accessible
Building Details
Year built
2005
Number of units
3
Listing Agency:
Keller Williams Realty Jersey Shore - Ocean City
(609) 399-5454
Listed By:
PAUL STRIEFSKY · License #RB-8438559
(609) 226-0061
Added: Feb 12
Changed: Aug 19
Last Checked: Aug 21 at 8:06AM
MLS# 604663
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 110 E Maryland Ave in Somers Point, this 5,860+ square foot mixed-use building was constructed in 2005 and includes an interior elevator, sprinkler system, alarm system, and 800 square feet of wrap-around decks. The property provides 16 parking spaces plus one handicap space and is served by public water and public sewer.
The 1,460+ square foot first floor is arranged as six offices, a half bath, and accessible commercial space. The 2,200+ square foot second floor currently contains office areas, six rooms, a reception or living area, three and a half bathrooms, gas fireplaces, and a wrap-around deck; the space is also described as convertible to residential use with a Use V. The renovated 2,200+ square foot third floor offers a primary suite, second bedroom with loft, open kitchen and living area, gas fireplace, and wrap-around decks.
The property is within the Historic Village Waterfront Zone, which permits General Business and Professional Offices as well as Residential First Floor - Commercial Space. Decks overlook meadows, back bays, marshland wildlife, and the Atlantic City and Downbeach skylines.
The 1,460+ square foot first floor is arranged as six offices, a half bath, and accessible commercial space. The 2,200+ square foot second floor currently contains office areas, six rooms, a reception or living area, three and a half bathrooms, gas fireplaces, and a wrap-around deck; the space is also described as convertible to residential use with a Use V. The renovated 2,200+ square foot third floor offers a primary suite, second bedroom with loft, open kitchen and living area, gas fireplace, and wrap-around decks.
The property is within the Historic Village Waterfront Zone, which permits General Business and Professional Offices as well as Residential First Floor - Commercial Space. Decks overlook meadows, back bays, marshland wildlife, and the Atlantic City and Downbeach skylines.
Key Highlights
- 5,860+ SF mixed‑use building with 800 sq.ft. of wrap‑around decks
- 16 parking spaces plus 1 handicap space
- Interior elevator with lock‑out option for 2nd and 3rd Floors
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
$87,021
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
3.78%
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%
$1,740,420
$1.7M
Cap Rate 7%
$1,243,157
$1.2M
Cap Rate 9%
$966,900
$966.9K
Market Conditions
NOI Build-Up for 5,860 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
$158.2K $27.00/SF
− Vacancy
−$19.0K −$3.24/SF
EGI
$139.2K $23.76/SF
− OpEx
−$52.2K −$8.91/SF
NOI
$87.0K $14.85/SF
Area
Atlantic County, NJ
Vacancy
12.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,740,420
Cap Rate 7%
$1,243,157
Cap Rate 9%
$966,900
Alternative Uses
Best Use
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $87,021 @ 7.0% cap · market cap 3.78%
Second Best
Office B
$1.23M
$1.07M – $1.43M
NOI $85,855 @ 7.0% cap · market cap 3.73%
Theoretical Best
Warehouse
$2.18M
$1.91M – $2.55M
NOI $152,756 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,012
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible office and residential configuration with elevator service, decks, parking, and waterfront-zone zoning.
Where is this mixed-use property located?
The property is located at 110 E Maryland Ave Somers Point, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 5,860+ SF mixed‑use building with 800 sq.ft. of wrap‑around decks; 16 parking spaces plus 1 handicap space; Interior elevator with lock‑out option for 2nd and 3rd Floors
