Professional Office Building For
For Sale
Contact for pricing
Pending
647 Shore Rd, Somers Point, NJ 08244
Visible Somers Point office building near Shore Medical Center.
Property Size3,000 SF
Days on Market183
Property Features for 647 Shore Rd
General Information
Standard status
Pending
Size
3,000 SF
Class
B
Property subtype
Office
Zoning
PMC
Occupancy
33%
Lease Type
Gross
Building Details
Year Built
1956
Year Renovated
2000
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Fox & Roach REALTORS Northfield
(609) 226-6680
Listed By:
BRYAN BAEHRLE · License #1644942
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Jul 24 at 7:33AM
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 Berkshire Hathaway HomeServices Fox & Roach REALTORS Northfield
Investment Insights
Based on property information with market context.
This professional office building is located along Shore Road in Somers Point. It is suitable for owner-operators or investors seeking a visible, service-oriented location near Shore Medical Center. The layout supports efficient daily operations with flexibility for private offices, collaborative areas, or client-facing functions. The property has strong frontage along a well-traveled corridor, enhancing brand exposure. Its proximity to surrounding neighborhoods, medical services, and complementary professional uses supports consistent demand. Convenient access to regional routes provides a short trip to Ocean City and seamless connectivity throughout Cape May County, reinforcing long-term location stability, usability, and investment appeal. The property size is 3000 square feet.
Key Highlights
- Visible location on Shore Road, ideal for service‑oriented businesses.
- Proximity to Shore Medical Center.
- Flexible layout suitable for various office configurations.
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
$43,953
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
6.77%
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%
$879,060
$879.1K
Cap Rate 7%
$627,900
$627.9K
Cap Rate 9%
$488,367
$488.4K
Market Conditions
NOI Build-Up for 3,000 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
$80.3K $26.76/SF
− Vacancy
−$21.7K −$7.23/SF
EGI
$58.6K $19.53/SF
− OpEx
−$14.7K −$4.88/SF
NOI
$44.0K $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%
$879,060
Cap Rate 7%
$627,900
Cap Rate 9%
$488,367
Alternative Uses
Best Use
Office B
$627.9K
$549.4K – $732.6K
NOI $43,953 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.12M
$977.5K – $1.30M
NOI $78,203 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,258
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 building - Visible Somers Point office building near Shore Medical Center.
Where is this office building located?
The property is located at 647 Shore Rd Somers Point, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Visible location on Shore Road, ideal for service‑oriented businesses.; Proximity to Shore Medical Center.; Flexible layout suitable for various office configurations.
