Medical/Professional Building Near Shore
For Sale
$1,995,000
110 Harbor Ln, Somers Point, NJ 08244
SINGLE_FAMILY - Somers Point, NJ
Property Size5,000 SF
Price / SF$399
Days on Market280
Property Features for 110 Harbor Ln
General Information
Property type
Residential
Property subtype
Office
Zoning
HVW
Directions
Harbor Lane East off Shore Road
Subdivision
Somers Point City
Standard status
Active
Size
5,000 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
64212
Listing Agency:
FORESITE COMMERCIAL REALTY
(609) 646-1919
Listed By:
SAMANTHA ZERAFA ROESSLER · License #1643608
(609) 646-1919
Added: Nov 14, 2025
Changed: May 21
Last Checked: Aug 21 at 11:06AM
MLS# 602680
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.
This multi-tenant professional or medical building is available for sale. The property features two currently tenanted units, with a fully finished space on the second floor available for an owner or user to occupy. The second floor, accessible via an ADA elevator, offers over 5,000 square feet of space, subject to measurement, and can potentially be divided into two units. The finished space includes a large waiting area, an administrative check-in/check-out area, 13 offices or exam rooms, a bullpen area, a staff kitchen, and a file room. Signage is available on a monument. On-site parking is provided. The building is located across the street from Shore Medical Center's main lobby and ER lobby, and is next to Penn Cardiology. Public transportation is available one block away, and the Garden State Parkway is nearby. The property is zoned HVW.
Key Highlights
- Located across the street from Shore Medical Center (main Lobby and ER Lobby).
- 5,000+\/- sf finished 2nd‑floor space available for owner/user occupancy.**
- Multi‑tenant building with existing tenants providing income.
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
$73,256
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
3.67%
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%
$1,465,120
$1.5M
Cap Rate 7%
$1,046,514
$1.0M
Cap Rate 9%
$813,956
$814.0K
Market Conditions
NOI Build-Up for 5,000 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
$133.8K $26.76/SF
− Vacancy
−$36.1K −$7.23/SF
EGI
$97.7K $19.53/SF
− OpEx
−$24.4K −$4.88/SF
NOI
$73.3K $14.65/SF
Area
Atlantic County, NJ
Vacancy
27.00%
Lease Rate
$26.76 /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%
$1,465,120
Cap Rate 7%
$1,046,514
Cap Rate 9%
$813,956
Alternative Uses
Best Use
Office B
$1.05M
$915.7K – $1.22M
NOI $73,256 @ 7.0% cap · market cap 3.67%
Second Best
Healthcare Medical
$1.01M
$886.1K – $1.18M
NOI $70,884 @ 7.0% cap · market cap 3.55%
Theoretical Best
Warehouse
$1.86M
$1.63M – $2.17M
NOI $130,338 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
Under-served
Demand for This Use
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant building with finished space available for owner/user.
Where is this medical office space located?
The property is located at 110 Harbor Ln Somers Point, NJ.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Located across the street from Shore Medical Center (main Lobby and ER Lobby).; 5,000+\/- sf finished 2nd‑floor space available for owner/user occupancy.**; Multi‑tenant building with existing tenants providing income.
