Renovated Office Units For
For Sale
$289,900
408A Bethel Road, Somers Point, NJ 08244
SINGLE_FAMILY - Somers Point, NJ
Property Size1,794 SF
Price / SF$161.59
Days on Market157
Property Features for 408A Bethel Road
General Information
Property type
Residential
Property subtype
Office
Directions
on Bethel Rd. between W. Cedar and W. Groveland
Subdivision
Somers Point City
Standard status
Active
Size
1,794 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
19846
Listing Agency:
NEW JERSEY HOMES SALES INC
(856) 793-9335
Listed By:
DONALD POLLOCK · License #8741070
(856) 829-3777
Added: Mar 18
Changed: May 21
Last Checked: Aug 21 at 7:06PM
MLS# 605737
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.
Three renovated units are available for purchase in the Point Commons development. Unit A1 offers 1119 square feet for $289,900, Unit A2 provides 1275 square feet for $329,900, and Unit A3 features 1794 square feet for $464,900. The units have been completely renovated, including new windows, interior and exterior doors, exterior siding, tiled bathrooms, lunch areas with new cabinets and countertops, upgraded waterproof flooring, HVAC systems, plumbing, and new 200 amp electric service to each unit. The spaces are suitable for medical and other professional uses and feature new energy-efficient HVAC and fixtures. The property is located in Somers Point, Atlantic County, New Jersey.
Key Highlights
- Totally renovated 3‑unit property in Point Commons.
- All new: windows, interior/exterior doors, siding, tiled baths, lunch areas, countertops, waterproof flooring, HVAC, and plumbing.
- New 200 amp electric service to each unit.
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
$26,284
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
9.07%
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%
$525,680
$525.7K
Cap Rate 7%
$375,486
$375.5K
Cap Rate 9%
$292,044
$292.0K
Market Conditions
NOI Build-Up for 1,794 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
$48.0K $26.76/SF
− Vacancy
−$13.0K −$7.23/SF
EGI
$35.0K $19.53/SF
− OpEx
−$8.8K −$4.88/SF
NOI
$26.3K $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%
$525,680
Cap Rate 7%
$375,486
Cap Rate 9%
$292,044
Alternative Uses
Best Use
Office B
$375.5K
$328.6K – $438.1K
NOI $26,284 @ 7.0% cap · market cap 9.07%
Second Best
Healthcare Medical
$363.3K
$317.9K – $423.9K
NOI $25,433 @ 7.0% cap · market cap 8.77%
Theoretical Best
Warehouse
$668.1K
$584.6K – $779.4K
NOI $46,765 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Office units - Three renovated office units suitable for medical or professional uses.
Where is this office units located?
The property is located at 408A Bethel Road Somers Point, NJ.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Totally renovated 3‑unit property in Point Commons.; All new: windows, interior/exterior doors, siding, tiled baths, lunch areas, countertops, waterproof flooring, HVAC, and plumbing.; New 200 amp electric service to each unit.
