701 Somerstown Ln, Galloway Township, NJ 08205
Prime office building suitable for many uses on 3/4 acre.
Property size:
3,500 SFLot size:
0.75 AcresPrice / SF:
$170/SF- Added:
- Apr 17, 2026
- Days on Market:
- 64
- Last Refresh:
- Jun 18 at 10:04 am
Property Features for 701 Somerstown Ln
General Information
- Standard status
- Active
- Property type
- Office buildings, Office Spaces, Commercial real estate
- Size
- 3,500 SF
- Lot size
- 0.75 Acres
Building Details
- Year Built
- 1997
Listing agent Richard (609) 226-0400
Listing office (609) 226-0400
Listing date Apr 17, 2026
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 | $93.7k | $26.76 |
| − Vacancy | −$25.3k | −$7.23 |
| EGI | $68.4k | $19.53 |
| − OpEx | −$17.1k | −$4.88 |
| NOI | $51.3k | $14.65 |
3,500 SF · lease $26.76/SF/yr · vacancy 27.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$732.6K
$641.0K – $854.7K
NOI $51,279 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,236 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Galloway Township
- County
- Atlantic
- State
- New Jersey
- Longitude
- -74.4957
- Latitude
- 39.473
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Prime office building suitable for many uses on 3/4 acre.
Where is this office building located?
The property is located at 701 Somerstown Ln Galloway Township, NJ.
What is the asking price?
The asking price for this property is $595,000.
