Freestanding Medical Office
For Sale
$455,000
717 Shore Road, Somers Point, NJ 08244
COMMERCIAL/INDUSTRIAL, Somers Point, NJ
Property Size2,688 SF
Lot Size0.17 Acres
Price / SF$169.27
Days on Market98
Property Features for 717 Shore Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PMC Zone
Exterior features
Sign
Directions
Turn onto Shore Road from New York Avenue towards Pennsylvania Ave -- directly in front of Gibbs Ave
Subdivision
Somers Point City
Standard status
Active
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11240
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Natural Gas
Cooling system
Wall Unit(s), Zoned, Central Air
Water source
Public
Building Details
Year built
1965
Flooring type
Carpet
Roof type
Asphalt
Listing Agency:
Keller Williams Realty Jersey Shore - Ocean City
(609) 399-5454
Listed By:
Michael Petretta · License #2331959
(609) 289-2346
Added: May 26
Changed: Aug 27
Last Checked: Aug 31 at 7:06PM
MLS# 608220
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.
This freestanding medical office building contains approximately 2,688 SF on a 0.1745-acre parcel. The existing configuration includes roughly 8 rooms, including six with capped exam-room plumbing in the walls, along with a reception and waiting area and 3 restrooms. Masonry construction, a vinyl-clad exterior, signage, carpeted flooring, and public water and sewer are in place. Heating includes zoned natural gas, while cooling is provided by central air and wall units.
The property fronts Shore Road in Somers Point’s food and retail corridor, with approximately 12,000+ vehicles per day. Shore Medical Center is one block away, and Ocean City is accessible across the bridge. PMC zoning supports medical and professional office use as well as café or restaurant, retail, salon or spa, personal care, and wellness studio applications. The building is delivered vacant and requires some updating.
The property fronts Shore Road in Somers Point’s food and retail corridor, with approximately 12,000+ vehicles per day. Shore Medical Center is one block away, and Ocean City is accessible across the bridge. PMC zoning supports medical and professional office use as well as café or restaurant, retail, salon or spa, personal care, and wellness studio applications. The building is delivered vacant and requires some updating.
Key Highlights
- Approximately 2,688 SF freestanding medical office building
- Existing layout includes roughly 8 rooms, reception/waiting area, and 3 restrooms
- Six rooms have capped exam‑room plumbing in‑wall
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
$39,382
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
8.66%
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%
$787,640
$787.6K
Cap Rate 7%
$562,600
$562.6K
Cap Rate 9%
$437,578
$437.6K
Market Conditions
NOI Build-Up for 2,688 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
$71.9K $26.76/SF
− Vacancy
−$19.4K −$7.23/SF
EGI
$52.5K $19.53/SF
− OpEx
−$13.1K −$4.88/SF
NOI
$39.4K $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%
$787,640
Cap Rate 7%
$562,600
Cap Rate 9%
$437,578
Alternative Uses
Best Use
Office B
$562.6K
$492.3K – $656.4K
NOI $39,382 @ 7.0% cap · market cap 8.66%
Second Best
Healthcare Medical
$544.4K
$476.3K – $635.1K
NOI $38,107 @ 7.0% cap · market cap 8.38%
Theoretical Best
Warehouse
$1.00M
$875.9K – $1.17M
NOI $70,070 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Vacant, adaptable property with an existing clinical layout, public utilities, and PMC zoning along Shore Road.
Where is this medical office space located?
The property is located at 717 Shore Road Somers Point, NJ.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Approximately 2,688 SF freestanding medical office building; Existing layout includes roughly 8 rooms, reception/waiting area, and 3 restrooms; Six rooms have capped exam‑room plumbing in‑wall
