Three-Unit Residential
New
For Sale
$615,000
438 Shore Road, Somers Point, NJ 08244
MULTI-FAMILY, Somers Point, NJ
Property Size1,795 SF
Lot Size0.17 Acres
Price / SF$342.62
Days on Market4
Property Features for 438 Shore Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
2
Rooms
Bedroom 1, Bedroom 2
Directions
North on Shore road from 9th street bridge
Subdivision
Somers Point City
Standard status
Active
Lot size
0.17 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8125
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Number of units
3
Buildings
1
Listing Agency:
Compass New Jersey-Ocean City (O463E)
(609) 322-7390
Listed By:
Mark Benevento, II · License #2336427
(609) 402-1906
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 31 at 7:06PM
MLS# 613272
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.
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Investment Insights
Based on property information with market context.
This residential triplex contains two one-bedroom units and one studio, with approximately 1,795 square feet of building area. The property dates to circa 1900 and occupies a 0.17-acre parcel. Forced-air heating serves the building, with public water and public sewer available.
The address is on Shore Road in Somers Point, near the Ocean City bridge, the bay, and Shore Medical Center. The property has a stated pro forma cap rate of 7%.
The address is on Shore Road in Somers Point, near the Ocean City bridge, the bay, and Shore Medical Center. The property has a stated pro forma cap rate of 7%.
Key Highlights
- Three‑unit property with two one‑bedroom units and one studio
- Approximately 1,795 square feet on a 0.17‑acre lot
- Built circa 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,442
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,840
$408.8K
Cap Rate 7%
$292,029
$292.0K
Cap Rate 9%
$227,133
$227.1K
Market Conditions
NOI Build-Up for 1,795 SF
Gross rent
$31.2K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$29.2K $16.27/SF
− OpEx
−$8.8K −$4.88/SF
NOI
$20.4K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,840
Cap Rate 7%
$292,029
Cap Rate 9%
$227,133
Alternative Uses
Best Use
Multifamily LT 5
$292.0K
$255.5K – $340.7K
NOI $20,442 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$256.7K
$224.6K – $299.5K
NOI $17,967 @ 7.0% cap · market cap 2.92%
Theoretical Best
Warehouse
$668.4K
$584.9K – $779.9K
NOI $46,791 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,228
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The unit mix includes two one-bedroom apartments and a studio.
Where is this triplex located?
The property is located at 438 Shore Road Somers Point, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Three‑unit property with two one‑bedroom units and one studio; Approximately 1,795 square feet on a 0.17‑acre lot; Built circa 1900
