Renovated Office
For Sale
Contact for pricing
16 Roosevelt Blvd Commercial Condo, Marmora, NJ 08226
Detached commercial condominium with updated building systems and Town Center Core zoning.
Property Size2,194 SF
Lot Size0.66 Acres
Price / SF$262.03
Days on Market55
Property Features for 16 Roosevelt Blvd Commercial Condo
General Information
Standard status
Active
Size
2,194 SF
Lot size
0.66 Acres
Property subtype
Office
Zoning
Town Center Core
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Building Size
2,194 SF
Listing Agency:
CENTURY 21 Alliance
Listed By:
Jeffrey Stull · License #9693735
(609) 214-5635
Source:
Crexi
Added: Jul 28
Changed: Sep 17
Last Checked: Sep 20 at 8:11AM
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
Investment Insights
Based on property information with market context.
This detached commercial condominium provides approximately 2,194 square feet of recently renovated office space. Improvements include a new roof, siding, windows, heating, and air conditioning. The property is vacant and was most recently used as a health and wellness center, offering an existing commercial layout for a range of office-oriented operations.
The building occupies a 155' x 185' lot on Roosevelt Blvd, a primary route serving Ocean City. North and south Parkway entrances and exits are located a few hundred yards away, providing direct regional access. Town Center Core zoning permits a wide range of uses, subject to applicable requirements.
The building occupies a 155' x 185' lot on Roosevelt Blvd, a primary route serving Ocean City. North and south Parkway entrances and exits are located a few hundred yards away, providing direct regional access. Town Center Core zoning permits a wide range of uses, subject to applicable requirements.
Key Highlights
- Approximately 2,194 square feet of office space
- Detached commercial condominium on a 155' x 185' lot
- Recent upgrades include roof, siding, windows, heat, and A/C
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Detached commercial condominium with updated building systems and Town Center Core zoning.
Where is this office units located?
The property is located at 16 Roosevelt Blvd Commercial Condo 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 of office space; Detached commercial condominium on a 155' x 185' lot; Recent upgrades include roof, siding, windows, heat, and A/C
