Two-Level Office
New
For Sale
$895,000
3110 Ocean Heights Ave, Egg Harbor Township, NJ 08234
Professional office property with reception, waiting areas, kitchen, and flexible workspace across two levels.
Property Size3,925 SF
Price / SF$228.03
Days on Market2
Property Features for 3110 Ocean Heights Ave
General Information
Standard status
Active
Size
3,925 SF
Building Details
Year Built
1980
Listing Agency:
Platinum Real Estate
Listed By:
Michele L. Jackson · License #RB-7942010
(609) 335-8598
Source:
Soldbypattie
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 1:55AM
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 Platinum Real Estate
Investment Insights
Based on property information with market context.
This 3,925-square-foot office building at 3110 Ocean Heights Ave includes 12 offices arranged across two levels. The interior also provides 2.5 baths, including a shower, a kitchen, bullpen workspace for additional desks, two waiting areas, and a main reception lobby. Three air-conditioning zones include one dual heat pump, while supplemental window units support after-hours use. The layout is suited to medical, dental, counseling, legal, accounting, and mortgage office operations.
The property has street frontage along Ocean Heights Ave and provides over 20 parking spaces, with additional room for parking. An ambulance bay is also included, adding a functional feature for certain office and healthcare-related uses. Built in 1980, the building combines multiple private offices with shared reception and support areas for a range of professional configurations.
The property has street frontage along Ocean Heights Ave and provides over 20 parking spaces, with additional room for parking. An ambulance bay is also included, adding a functional feature for certain office and healthcare-related uses. Built in 1980, the building combines multiple private offices with shared reception and support areas for a range of professional configurations.
Key Highlights
- 3,925 SF office building with 12 offices across two levels
- 2.5 baths, including a shower, plus kitchen and bullpen workspace
- Main reception lobby and two waiting areas
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
$57,506
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
6.43%
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%
$1,150,120
$1.2M
Cap Rate 7%
$821,514
$821.5K
Cap Rate 9%
$638,956
$639.0K
Market Conditions
NOI Build-Up for 3,925 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
$105.0K $26.76/SF
− Vacancy
−$28.4K −$7.23/SF
EGI
$76.7K $19.53/SF
− OpEx
−$19.2K −$4.88/SF
NOI
$57.5K $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%
$1,150,120
Cap Rate 7%
$821,514
Cap Rate 9%
$638,956
Alternative Uses
Best Use
Office B
$821.5K
$718.8K – $958.4K
NOI $57,506 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.46M
$1.28M – $1.71M
NOI $102,315 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
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Business Placement
Demographics for 08234, NJ
46,906
Population
17,728
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
92%
High-School Grad
60.7 sq mi
ZIP Area
773
Density / Sq Mi
$96,604
Median Household Income
$46,070
Median Earnings
$1,466
Median Rent
$285,700
Median Home Value
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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 building - Professional office property with reception, waiting areas, kitchen, and flexible workspace across two levels.
Where is this office building located?
The property is located at 3110 Ocean Heights Ave Egg Harbor Township, NJ.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 3,925 SF office building with 12 offices across two levels; 2.5 baths, including a shower, plus kitchen and bullpen workspace; Main reception lobby and two waiting areas
