Updated Medical Office
For Sale
Contact for pricing
408 BETHEL RD, Somers Point, NJ 08244
Configured for clinical operations with exam rooms, patient and staff restrooms, and an on-site kitchenette.
Property Size1,200 SF
Price / SF$204.17
Days on Market18
Property Features for 408 BETHEL RD
General Information
Standard status
Active
Size
1,200 SF
Class
B
Property subtype
Office
Zoning
Approved: Office/Medical Park
Additional Details
HOA Fee
$433
Office Units
1
Building Details
Year Built
1986
Year Renovated
2026
Units
1
Listing Agency:
Balsley Losco Realty
(609) 226-0400
Listed By:
Richard Suthard · License #8131477
Source:
Crexi
Added: Aug 15
Changed: Aug 31
Last Checked: Sep 1 at 5:26AM
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 Balsley Losco Realty
Investment Insights
Based on property information with market context.
This 1,200-square-foot medical office condominium offers a practical clinical layout with a waiting area, reception and business office, multiple exam rooms equipped with sinks, a consultation room, break room with kitchenette, and separate restrooms for patients and staff. Interior work includes fresh paint, cleaned carpeting, and new base molding.
Recent exterior improvements include a concrete entry pad, front door, siding, and windows. Constructed in 1986, the property is located at 408 Bethel Road in Somers Point, New Jersey. The condominium association maintains the exterior grounds and building, along with insurance for the building and common areas.
Recent exterior improvements include a concrete entry pad, front door, siding, and windows. Constructed in 1986, the property is located at 408 Bethel Road in Somers Point, New Jersey. The condominium association maintains the exterior grounds and building, along with insurance for the building and common areas.
Key Highlights
- 1,200 SF medical office condominium
- Multiple exam rooms with sinks
- Separate patient and staff restrooms
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
$17,581
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
7.18%
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%
$351,620
$351.6K
Cap Rate 7%
$251,157
$251.2K
Cap Rate 9%
$195,344
$195.3K
Market Conditions
NOI Build-Up for 1,200 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
$32.1K $26.76/SF
− Vacancy
−$8.7K −$7.23/SF
EGI
$23.4K $19.53/SF
− OpEx
−$5.9K −$4.88/SF
NOI
$17.6K $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%
$351,620
Cap Rate 7%
$251,157
Cap Rate 9%
$195,344
Alternative Uses
Best Use
Office B
$251.2K
$219.8K – $293.0K
NOI $17,581 @ 7.0% cap · market cap 7.18%
Second Best
Healthcare Medical
$243.0K
$212.7K – $283.5K
NOI $17,012 @ 7.0% cap · market cap 6.94%
Theoretical Best
Warehouse
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 12.77%
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
907
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08244, NJ
10,535
Population
5,898
Households
1.8
Avg Household Size
47
Median Age
30%
College-Educated
89%
High-School Grad
4.9 sq mi
ZIP Area
2,150
Density / Sq Mi
$67,500
Median Household Income
$38,709
Median Earnings
$1,266
Median Rent
$278,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Mainland Veterinary Hospital — 425 Bethel Rd, Somers Point, NJ 08244
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for clinical operations with exam rooms, patient and staff restrooms, and an on-site kitchenette.
Where is this medical office space located?
The property is located at 408 BETHEL RD Somers Point, NJ.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,200 SF medical office condominium; Multiple exam rooms with sinks; Separate patient and staff restrooms
