Somers Point Office Condo For
599 Shore Road #202 Somers Point, NJ 08244
599 Shore Road #202, Somers Point, NJ, 08244
$500,000
For Sale
$500,000
Office condo near Shore Memorial Hospital with six individual offices.
Property Size1,875 SF
Price / SF$266.67
Days on Market68
Property Features for 599 Shore Road #202
General Information
- Standard status
- Active
- Size
- 1,875 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1800
Listing agency
C21/ ACTION PLUS REALTY
(800) 299-2129
Listed by
JOAN L VELARDI · License #0337813
Source
Corcoran
Added: May 15 Updated: Jul 10 at 1:35PM Checked: Jul 21 at 6:06AM
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 C21/ ACTION PLUS REALTY
Investment Insights
Based on property information with market context.
This 1845 square foot office condo is available for sale or lease in Somers Manor. Located on the second floor, the unit features six individual offices, a staff room, a kitchen area, and two restrooms. The building is handicapped accessible and equipped with an elevator. Its location offers proximity to Shore Memorial Hospital, Ocean City, major shore areas, and the Garden State Parkway ramp. The zoning is HVC.
Key Highlights
- Prime Location: Near Shore Memorial Hospital, Ocean City, major shore areas, and Parkway ramp.
- Spacious Office Condo: 1845 sq. ft. with 6 individual offices, staff room, and kitchen area.
- Two Restrooms
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.2k | $26.76 |
| − Vacancy | −$13.5k | −$7.23 |
| EGI | $36.6k | $19.53 |
| − OpEx | −$9.2k | −$4.88 |
| NOI | $27.5k | $14.65 |
1,875 SF · lease $26.76/SF/yr · vacancy 27.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$392.4K
$343.4K – $457.9K
NOI $27,471 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$698.2K
$611.0K – $814.6K
NOI $48,877 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. Nicole B. ...
Physician
Colleen Halliday Pham, ...
Physician
Faul Danielle E
Physician
Korzeniowski Philip MD
Physician
Ellen Stott, NP
Physician
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FAQs
What type of property is this?
Office units - Office condo near Shore Memorial Hospital with six individual offices.
Where is this office units located?
The property is located at 599 Shore Road #202 Somers Point, NJ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Prime Location: Near Shore Memorial Hospital, Ocean City, major shore areas, and Parkway ramp.; Spacious Office Condo: 1845 sq. ft. with 6 individual offices, staff room, and kitchen area.; Two Restrooms
