Two-Building Wellness
For Sale
$799,900
16-20 Roosevelt Blvd, Marmora, NJ 08223
Both vacant structures sit on a Town Center Core-zoned parcel with parking for approximately 22 vehicles.
Property Size3,818 SF
Lot Size0.66 Acres
Price / SF$209.51
Days on Market296
Property Features for 16-20 Roosevelt Blvd
General Information
Standard status
Active
Size
3,818 SF
Total Parking Spaces
22
Lot size
0.66 Acres
Property subtype
COMMERCIAL
Zoning
Town Center Core
Additional Details
Condition
Move-in Ready
Taxes and HOA fees
Annual Taxes
$8,285
Building Details
Buildings
2
Listing Agency:
CENTURY 21 ALLIANCE-O1O4J
Listed By:
JEFFREY STULL · License #9693735
(609) 214-5635
Source:
Hartmanhometeam
Added: Jan 4
Changed: Oct 26
Last Checked: Oct 26 at 3:53PM
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
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Investment Insights
Based on property information with market context.
This spa and wellness property comprises two detached buildings on a 155' x 185' lot. Building A contains approximately 2,194 square feet and has a new roof, siding, windows, and heat and air conditioning. It most recently operated as a health and wellness center. Building B offers approximately 1,624 square feet. Both buildings are vacant.
The property is on Roosevelt Blvd, described as a primary route into and out of Ocean City. North and South Parkway entrances and exits are a few hundred yards away. On-site parking accommodates approximately 22 cars. Town Center Core zoning permits a wide range of uses.
The property is on Roosevelt Blvd, described as a primary route into and out of Ocean City. North and South Parkway entrances and exits are a few hundred yards away. On-site parking accommodates approximately 22 cars. Town Center Core zoning permits a wide range of uses.
Key Highlights
- Two detached buildings on a 155' x 185' lot
- Building A: approximately 2,194 square feet; new roof, siding, windows, heat and A/C
- Building B: approximately 1,624 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,449
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,248,980
$1.2M
Cap Rate 7%
$892,129
$892.1K
Cap Rate 9%
$693,878
$693.9K
Market Conditions
NOI Build-Up for 3,818 SF
Gross rent
$106.8K $27.96/SF
− Vacancy
−$23.5K −$6.15/SF
EGI
$83.3K $21.81/SF
− OpEx
−$20.8K −$5.45/SF
NOI
$62.4K $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 Rate 5%
$1,248,980
Cap Rate 7%
$892,129
Cap Rate 9%
$693,878
Alternative Uses
Best Use
Office B
$892.1K
$780.6K – $1.04M
NOI $62,449 @ 7.0% cap · market cap 7.81%
Second Best
Healthcare Medical
$859.1K
$751.7K – $1.00M
NOI $60,134 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,809 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 08223, NJ
4,116
Population
2,352
Households
1.8
Avg Household Size
46
Median Age
50%
College-Educated
99%
High-School Grad
13.0 sq mi
ZIP Area
317
Density / Sq Mi
$100,000
Median Household Income
$67,531
Median Earnings
$1,642
Median Rent
$353,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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 - Both vacant structures sit on a Town Center Core-zoned parcel with parking for approximately 22 vehicles.
Where is this spa & wellness property located?
The property is located at 16-20 Roosevelt Blvd Marmora, NJ.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two detached buildings on a 155' x 185' lot; Building A: approximately 2,194 square feet; new roof, siding, windows, heat and A/C; Building B: approximately 1,624 square feet
