Renovated Office
For Sale
$574,900
16 Roosevelt Blvd, Marmora, NJ 08226
COMMERCIAL/INDUSTRIAL, Marmora, NJ
Property Size2,194 SF
Lot Size0.66 Acres
Price / SF$262.03
Days on Market96
Property Features for 16 Roosevelt Blvd
General Information
Property type
Residential
Property subtype
Office
Zoning
TCC
Rooms
Basement
Parking features
Off Street
Security features
Security System
Interior features
Restroom, Security System
Exterior features
Sign
Lot features
Business District
Directions
Parkway exit 25 to Roosevelt Blvd, then west to #16
Subdivision
Upper Twp
Standard status
Active
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Number of units
1
Flooring type
Linoleum
Roof type
Asphalt
Listing Agency:
CENTURY 21 ALLIANCE-O1O4J
(609) 399-5711
Listed By:
JEFFREY STULL · License #9693735
(609) 214-5635
Added: May 30
Changed: Aug 29
Last Checked: Sep 2 at 11:06AM
MLS# 608398
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.
Building 16 is a detached commercial condominium containing approximately 2,194 square feet on a 155' x 185' lot. The vacant space includes a restroom, security system, linoleum flooring, basement space, an exterior sign, off-street parking, and public water service. Recent improvements include the roof, siding, windows, heating, and air conditioning systems. Heating is provided by forced air and natural gas, with central air conditioning.
The property is located at 16 Roosevelt Blvd in Marmora, NJ, near North and South Parkway entrances and exits that are described as a few hundred yards away. TCC, or Town Center Core, zoning permits a wide range of uses. The space was most recently operated as a health and wellness center and is available for a new business configuration.
The property is located at 16 Roosevelt Blvd in Marmora, NJ, near North and South Parkway entrances and exits that are described as a few hundred yards away. TCC, or Town Center Core, zoning permits a wide range of uses. The space was most recently operated as a health and wellness center and is available for a new business configuration.
Key Highlights
- Approximately 2,194 square feet in Building 16
- 155' x 185' lot
- Recently updated roof, siding, windows, heating, and air conditioning
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
$35,886
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
6.24%
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%
$717,720
$717.7K
Cap Rate 7%
$512,657
$512.7K
Cap Rate 9%
$398,733
$398.7K
Market Conditions
NOI Build-Up for 2,194 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
$61.3K $27.96/SF
− Vacancy
−$13.5K −$6.15/SF
EGI
$47.8K $21.81/SF
− OpEx
−$12.0K −$5.45/SF
NOI
$35.9K $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 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%
$717,720
Cap Rate 7%
$512,657
Cap Rate 9%
$398,733
Alternative Uses
Best Use
Office B
$512.7K
$448.6K – $598.1K
NOI $35,886 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$671.6K
$587.6K – $783.5K
NOI $47,011 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 08226, NJ
11,229
Population
20,905
Households
0.5
Avg Household Size
57
Median Age
55%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
1,651
Density / Sq Mi
$101,782
Median Household Income
$54,323
Median Earnings
$1,670
Median Rent
$719,100
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?
Office units - Vacant commercial condo with upgraded building systems and Town Center Core zoning.
Where is this office units located?
The property is located at 16 Roosevelt Blvd Marmora, NJ.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Approximately 2,194 square feet in Building 16; 155' x 185' lot; Recently updated roof, siding, windows, heating, and air conditioning
