Office
For Sale
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3324 Simpson Avenue, Ocean City, NJ 08226
Professional complex setting with a functional layout and ample parking.
Property Size580 SF
Price / SF$515.52
Days on Market8
Property Features for 3324 Simpson Avenue
General Information
Standard status
Active
Size
580 SF
Property subtype
Land
Additional Details
Office Units
1
Listing Agency:
RIORDAN REAL ESTATE INC.
Listed By:
Brian Riordan · License #0790140
Source:
Crexi
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 13 at 9:12AM
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 RIORDAN REAL ESTATE INC.
Investment Insights
Based on property information with market context.
This commercial condominium is located within Traders Lane, a professional complex in Ocean City. The property offers a functional layout suited to office, professional, and service-oriented business uses, with ample parking serving the complex.
The property is positioned at 3324 Simpson Avenue and provides an accessible commercial setting for an owner-occupant or investor. Its condominium format offers a distinct office unit within an established professional environment.
The property is positioned at 3324 Simpson Avenue and provides an accessible commercial setting for an owner-occupant or investor. Its condominium format offers a distinct office unit within an established professional environment.
Key Highlights
- Commercial condominium within Traders Lane professional complex
- Functional interior layout for office, professional, or service‑oriented uses
- Ample parking available at the complex
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
$9,487
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
3.17%
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%
$189,740
$189.7K
Cap Rate 7%
$135,529
$135.5K
Cap Rate 9%
$105,411
$105.4K
Market Conditions
NOI Build-Up for 580 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
$16.2K $27.96/SF
− Vacancy
−$3.6K −$6.15/SF
EGI
$12.6K $21.81/SF
− OpEx
−$3.2K −$5.45/SF
NOI
$9.5K $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%
$189,740
Cap Rate 7%
$135,529
Cap Rate 9%
$105,411
Alternative Uses
Best Use
Office B
$135.5K
$118.6K – $158.1K
NOI $9,487 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$177.5K
$155.4K – $207.1K
NOI $12,428 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
141
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
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Frequently Asked Questions
What type of property is this?
Office units - Professional complex setting with a functional layout and ample parking.
Where is this office units located?
The property is located at 3324 Simpson Avenue Ocean City, NJ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Commercial condominium within Traders Lane professional complex; Functional interior layout for office, professional, or service‑oriented uses; Ample parking available at the complex
