Medical Center with Two
For Sale
$849,900
16-20 Roosevelt Blvd, Marmora, NJ 08223
COMMERCIAL/INDUSTRIAL, Marmora, NJ
Property Size3,818 SF
Lot Size0.60 Acres
Price / SF$222.60
Days on Market263
Property Features for 16-20 Roosevelt Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TCC
Rooms
Laundry Room, Basement, Utility Room
Interior features
Restroom
Exterior features
Sign
Lot features
Highway
Directions
Southside of Roosevelt Blvd... 1st & 2nd buildings after CVS east bound.
Subdivision
Upper Twp
Standard status
Active
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8285
Utilities
Heating system
Hot Water(Heating), Baseboard, Oil, Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Number of units
2
Roof type
Asphalt
Listing Agency:
CENTURY 21 ALLIANCE-O1O4J
(609) 399-5711
Listed By:
JEFFREY STULL · License #9693735
(609) 214-5635
Added: Jan 3
Changed: Sep 12
Last Checked: Sep 23 at 9:06AM
MLS# 603443
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 medical-center property includes two detached buildings on a 0.6-acre parcel. Building A contains approximately 2,194 square feet and has received roof, siding, window, heating, and air-conditioning improvements. Building B provides approximately 1,624 square feet. Both buildings are vacant, creating options for owner occupancy or leasing. Interior features include a restroom, laundry room, basement, and utility room, while the property also has a sign and asphalt roofing.
The property is located at 16-20 Roosevelt Blvd in Marmora, New Jersey, on a 155-foot by 185-foot lot. Approximately 22 parking spaces are available, and North and South Parkway entrances and exits are a few hundred yards away. The site is zoned TCC, or Town Center Core, and has public water service.
The property is located at 16-20 Roosevelt Blvd in Marmora, New Jersey, on a 155-foot by 185-foot lot. Approximately 22 parking spaces are available, and North and South Parkway entrances and exits are a few hundred yards away. The site is zoned TCC, or Town Center Core, and has public water service.
Key Highlights
- Two detached buildings totaling approximately 3,818 square feet
- Building A: approximately 2,194 square feet with new roof, siding, windows, heat, and A/C
- Building B offers approximately 1,624 square feet and is vacant
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
$60,134
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
7.08%
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%
$1,202,680
$1.2M
Cap Rate 7%
$859,057
$859.1K
Cap Rate 9%
$668,156
$668.2K
Market Conditions
NOI Build-Up for 3,818 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
$114.5K $30.00/SF
− Vacancy
−$14.3K −$3.75/SF
EGI
$100.2K $26.25/SF
− OpEx
−$40.1K −$10.50/SF
NOI
$60.1K $15.75/SF
Area
Cape May County, NJ
Vacancy
12.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,202,680
Cap Rate 7%
$859,057
Cap Rate 9%
$668,156
Alternative Uses
Best Use
Healthcare Medical
$859.1K
$751.7K – $1.00M
NOI $60,134 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,809 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Medical center - Two detached commercial structures provide flexible space with central air, public water, restroom facilities, and on-site parking.
Where is this medical center located?
The property is located at 16-20 Roosevelt Blvd Marmora, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two detached buildings totaling approximately 3,818 square feet; Building A: approximately 2,194 square feet with new roof, siding, windows, heat, and A/C; Building B offers approximately 1,624 square feet and is vacant
