Three-Story Triplex with
For Sale
$1,850,000
110 East Maryland Avenue, Somers Point, NJ 08244
Historic Village Waterfront zoning supports professional office and residential uses within an accessible, flexible building.
Property Size5,900 SF
Price / SF$315.92
Days on Market208
Property Features for 110 East Maryland Avenue
General Information
Standard status
Active
Size
5,900 SF
Total Parking Spaces
17
Elevators
Yes
Property subtype
MULTI-FAMILY / Triplex
Zoning
Historic Village Waterfront Zone
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$30,036
Amenities
outdoor decks
gas fireplace
alarm system
handicap accessible
Forced Air, Gas-Natural
Slab
Burglar Alarm, Disposal, Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Washer
Ceiling Fan(s), Central, Electric
Blacktop
Insulated Glass, Screens
Fiber Cement Board Siding
Bay View, Curbs, Deck, Handicap Access, Sidewalks, Sprinkler System
Building Details
Year Built
2005
Buildings
1
Stories
3
Units
3
Building Size
5,900 SF
Listing Agency:
BHHS FOX and ROACH-Northfield
(609) 226-0061
Listed By:
PAUL STRIEFSKY · License #RB-8438559
(609) 226-0061
Source:
Compass
Added: Feb 5
Changed: Aug 31
Last Checked: Aug 31 at 12:43AM
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 BHHS FOX and ROACH-Northfield
Investment Insights
Based on property information with market context.
Built in 2005, this 5,856-square-foot, three-story property combines office, residential, and adaptable space with an interior elevator featuring a lock-out option for the second and third floors. The first level contains six rooms or offices, a half bath, handicap access, and exterior decks. The second floor offers six additional rooms or offices, a reception or living area with a gas fireplace, three and a half bathrooms, and a configuration that can remain office space or convert to a residential unit with Use V. The renovated third floor includes a primary suite, second bedroom with loft, open kitchen and living area, and another gas fireplace.
Located at 110 East Maryland Avenue in Somers Point, the property is within the Historic Village Waterfront Zone, which permits general business, professional offices, and residential first-floor commercial space. The site includes 16 parking spaces plus one handicap space, 800 square feet of wrap-around decks, sprinkler protection, a burglar alarm, and views toward meadows, back bays, marshland, and Atlantic City and Downbeach skylines.
Located at 110 East Maryland Avenue in Somers Point, the property is within the Historic Village Waterfront Zone, which permits general business, professional offices, and residential first-floor commercial space. The site includes 16 parking spaces plus one handicap space, 800 square feet of wrap-around decks, sprinkler protection, a burglar alarm, and views toward meadows, back bays, marshland, and Atlantic City and Downbeach skylines.
Key Highlights
- 5,856‑square‑foot building completed in 2005
- Three floors with an interior elevator and lock‑out option for the 2nd and 3rd Floors
- 16 parking spaces plus 1 Handicap Space
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
$86,962
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
4.70%
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%
$1,739,240
$1.7M
Cap Rate 7%
$1,242,314
$1.2M
Cap Rate 9%
$966,244
$966.2K
Market Conditions
NOI Build-Up for 5,856 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
$158.1K $27.00/SF
− Vacancy
−$19.0K −$3.24/SF
EGI
$139.1K $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%
$1,739,240
Cap Rate 7%
$1,242,314
Cap Rate 9%
$966,244
Alternative Uses
Best Use
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $86,962 @ 7.0% cap · market cap 4.70%
Second Best
Office B
$1.23M
$1.07M – $1.43M
NOI $85,797 @ 7.0% cap · market cap 4.64%
Theoretical Best
Warehouse
$2.18M
$1.91M – $2.54M
NOI $152,651 @ 7.0% cap · market cap 8.25%
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
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Frequently Asked Questions
What type of property is this?
Triplex - Historic Village Waterfront zoning supports professional office and residential uses within an accessible, flexible building.
Where is this triplex located?
The property is located at 110 East Maryland Avenue Somers Point, NJ.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5,856‑square‑foot building completed in 2005; Three floors with an interior elevator and lock‑out option for the 2nd and 3rd Floors; 16 parking spaces plus 1 Handicap Space
