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 Market96
Property Features for 717 Shore Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PMC
Interior features
Generator
Exterior features
Sign
Lot features
Business District
Subdivision
Out of County
Standard status
Active
Size
2,688 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11240
Utilities
Heating system
Natural Gas, Zoned
Cooling system
Zoned, Central Air
Building Details
Year built
1965
Flooring type
Carpet - Full
Listing Agency:
KELLER WILLIAMS REALTY JERSEY SHORE oc
(609) 399-5454
Listed By:
Michael Petretta · License #2331959
(609) 289-2346
Added: May 26
Changed: Aug 27
Last Checked: Aug 29 at 12:06AM
MLS# 261434
Copyright © 2026 Cape May County Association of Realtors. 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.
Built in 1965, this freestanding medical office contains approximately 2,688 square feet with an existing clinical layout of about eight rooms. Six rooms retain capped exam-room plumbing within the walls, while the plan also includes a reception and waiting area and three restrooms. Masonry construction, a vinyl-clad exterior, carpeted floors, zoned heating and cooling, natural-gas heat, central air, a generator, and exterior signage are in place. Some updating is needed, and the property will be delivered vacant.
The 0.1745-acre parcel fronts Shore Road in Somers Point and measures 50 ft by 152 ft, with 8 on-site parking spaces. Traffic is reported at ~12,000+ vehicles/day. PMC zoning supports medical and professional office use along with other stated commercial applications, subject to verification. The property is near Shore Medical Center and established food and retail businesses, with Ocean City minutes away across the bridge.
The 0.1745-acre parcel fronts Shore Road in Somers Point and measures 50 ft by 152 ft, with 8 on-site parking spaces. Traffic is reported at ~12,000+ vehicles/day. PMC zoning supports medical and professional office use along with other stated commercial applications, subject to verification. The property is near Shore Medical Center and established food and retail businesses, with Ocean City minutes away across the bridge.
Key Highlights
- 2,688+/- SF freestanding medical office building
- Existing layout includes roughly 8 rooms, including six with capped exam‑room plumbing in‑wall
- 0.1745‑acre lot with 50 ft frontage * 152 ft depth
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
$41,586
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
9.14%
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%
$831,720
$831.7K
Cap Rate 7%
$594,086
$594.1K
Cap Rate 9%
$462,067
$462.1K
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
$58.1K $21.60/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$55.4K $20.63/SF
− OpEx
−$13.9K −$5.16/SF
NOI
$41.6K $15.47/SF
Area
Atlantic County, NJ
Vacancy
4.50%
Lease Rate
$21.60 /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%
$831,720
Cap Rate 7%
$594,086
Cap Rate 9%
$462,067
Alternative Uses
Best Use
Specialty Retail
$594.1K
$519.8K – $693.1K
NOI $41,586 @ 7.0% cap · market cap 9.14%
Second Best
Office B
$562.6K
$492.3K – $656.4K
NOI $39,382 @ 7.0% cap · market cap 8.66%
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 - PMC-zoned property offers an established room layout, reception area, three restrooms, and on-site parking.
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: 2,688+/- SF freestanding medical office building; Existing layout includes roughly 8 rooms, including six with capped exam‑room plumbing in‑wall; 0.1745‑acre lot with 50 ft frontage * 152 ft depth
