Two-Story Medical Office
New
For Sale
$579,000
829 SHORE Road, Somers Point, NJ 08244
COMMERCIAL/INDUSTRIAL, Somers Point, NJ
Property Size2,486 SF
Price / SF$232.90
Days on Market2
Property Features for 829 SHORE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Interior features
220 Volt Electricity, Restroom, Smoke/Fire Alarm
Lot features
Business District, Highway, Historical District, Mainland
Directions
SHORE RD, ACROSS FROM GREGORY'S
Subdivision
Somers Point City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15297
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Listing Agency:
BHHS FOX and ROACH-Northfield
(609) 646-1900
Listed By:
RICHARD BAEHRLE · License #8436462
(609) 226-6680
Added: Sep 18
Last Checked: Sep 19 at 9:06AM
MLS# 612018
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 two-story medical office property contains approximately 2,486 SF with an established clinical layout that includes 4 exam rooms, a consultation room, private office, spacious waiting area, and kitchen or break area. Interior features include 220 Volt Electricity, a restroom, and Smoke/Fire Alarm. Natural gas forced-air heating and central air conditioning serve the building.
The property is located at 829 SHORE Road in Somers Point, with visibility along Shore Road and off-street parking. Public water and Public Sewer are available. The upper level may support an apartment or live/work configuration, subject to approvals. Built in 1920, the property can accommodate continued medical use or other professional, wellness, or service-oriented applications supported by the existing layout.
The property is located at 829 SHORE Road in Somers Point, with visibility along Shore Road and off-street parking. Public water and Public Sewer are available. The upper level may support an apartment or live/work configuration, subject to approvals. Built in 1920, the property can accommodate continued medical use or other professional, wellness, or service-oriented applications supported by the existing layout.
Key Highlights
- Approximately 2,486 SF two‑story commercial property
- Clinical layout with 4 exam rooms, consultation room, private office, waiting area, and kitchen/break area
- Upper level may support apartment or live/work use, subject to approvals
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
$36,423
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
6.29%
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%
$728,460
$728.5K
Cap Rate 7%
$520,329
$520.3K
Cap Rate 9%
$404,700
$404.7K
Market Conditions
NOI Build-Up for 2,486 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
$66.5K $26.76/SF
− Vacancy
−$18.0K −$7.23/SF
EGI
$48.6K $19.53/SF
− OpEx
−$12.1K −$4.88/SF
NOI
$36.4K $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%
$728,460
Cap Rate 7%
$520,329
Cap Rate 9%
$404,700
Alternative Uses
Best Use
Office B
$520.3K
$455.3K – $607.1K
NOI $36,423 @ 7.0% cap · market cap 6.29%
Second Best
Healthcare Medical
$503.5K
$440.6K – $587.4K
NOI $35,244 @ 7.0% cap · market cap 6.09%
Theoretical Best
Warehouse
$925.8K
$810.1K – $1.08M
NOI $64,804 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
991
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical layout with exam rooms, consultation space, private office, waiting area, and break room.
Where is this medical office space located?
The property is located at 829 SHORE Road Somers Point, NJ.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Approximately 2,486 SF two‑story commercial property; Clinical layout with 4 exam rooms, consultation room, private office, waiting area, and kitchen/break area; Upper level may support apartment or live/work use, subject to approvals
