Two-Story Medical Office
New
For Sale
$579,000
829 SHORE ROAD, Somers Point, NJ 08244
Configured with exam, consultation, office, waiting, and kitchen/break areas for professional use.
Property Size2,500 SF
Price / SF$231.60
Days on Market3
Property Features for 829 SHORE ROAD
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Building Details
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
BHHS Fox & Roach-Northfield
(609) 646-1900
Listed By:
Richard Baehrle
(609) 226-6680
Source:
Cummingsrealtors
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 20 at 2:33PM
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 BHHS Fox & Roach-Northfield
Investment Insights
Based on property information with market context.
This two-story commercial property, built in 1920, is configured for medical or professional occupancy. The existing layout includes four exam rooms, a consultation room, a private office, a large waiting area, and a kitchen/break area. The upper level may support an apartment or live/work concept, subject to approvals.
The property fronts Shore Road and is positioned near Ocean City, Shore Medical Center, dining, shopping, and Jersey Shore destinations. Its existing room configuration and second-floor flexibility support a range of medical, wellness, service-oriented, or professional uses, subject to applicable approvals.
The property fronts Shore Road and is positioned near Ocean City, Shore Medical Center, dining, shopping, and Jersey Shore destinations. Its existing room configuration and second-floor flexibility support a range of medical, wellness, service-oriented, or professional uses, subject to applicable approvals.
Key Highlights
- Four exam rooms plus consultation room and private office
- Large waiting area and kitchen/break area
- Two‑story commercial property built in 1920
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
$36,628
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
6.33%
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%
$732,560
$732.6K
Cap Rate 7%
$523,257
$523.3K
Cap Rate 9%
$406,978
$407.0K
Market Conditions
NOI Build-Up for 2,500 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
$66.9K $26.76/SF
− Vacancy
−$18.1K −$7.23/SF
EGI
$48.8K $19.53/SF
− OpEx
−$12.2K −$4.88/SF
NOI
$36.6K $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%
$732,560
Cap Rate 7%
$523,257
Cap Rate 9%
$406,978
Alternative Uses
Best Use
Office B
$523.3K
$457.9K – $610.5K
NOI $36,628 @ 7.0% cap · market cap 6.33%
Second Best
Healthcare Medical
$506.3K
$443.0K – $590.7K
NOI $35,442 @ 7.0% cap · market cap 6.12%
Theoretical Best
Warehouse
$931.0K
$814.6K – $1.09M
NOI $65,169 @ 7.0% cap · market cap 11.26%
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Configured with exam, consultation, office, waiting, and kitchen/break areas for professional use.
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: Four exam rooms plus consultation room and private office; Large waiting area and kitchen/break area; Two‑story commercial property built in 1920
