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    514 New Rd Somers Point, NJ 08244

    For Sale
    Contact for pricing

    7,200 SF Mixed-Use Property in NJ

    Property size:
    7,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 7,200 square foot mixed-use property, located at 514 New Road in Somers Point, New Jersey, presents a compelling investment opportunity. Situated on a 0.55-acre lot, this versatile space is zoned HC-1, offering a wide range of potential uses. The building's substantial size allows for diverse configurations, catering to a variety of retail and commercial ventures. Its prime location in Somers Point provides excellent visibility and accessibility, ensuring high foot traffic and convenient access for customers and employees. The property's existing infrastructure provides a solid foundation for immediate occupancy or extensive renovations, depending on the buyer's vision. This is an ideal opportunity for entrepreneurs seeking a prominent location to establish their business or for investors looking for a strong return on investment in a thriving New Jersey community. The 08244 zip code offers a strong demographic profile, further enhancing the property's appeal. The property's versatility, combined with its strategic location and ample square footage, makes it an attractive proposition for a wide range of commercial enterprises. Serious inquiries are encouraged to explore the full potential of this remarkable property. Detailed property information and zoning regulations are readily available upon request. Don't miss this chance to acquire a significant commercial asset in a desirable New Jersey market.

    Property Features for 514 New Rd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    7,200 SF
    Lot Size
    23,958 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Big Wally's Discount ... Bedroom Furniture Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somers Point
    County
    New Jersey
    State
    New Jersey
    Longitude
    -74.6020241
    Latitude
    39.3211622

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    FAQs

    What type of property is this?
    Mixed-use property - 7,200 SF Mixed-Use Property in NJ
    Where is this mixed-use property located?
    The property is located at 514 New Rd Somers Point, NJ.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    514 New Rd Somers Point, NJ 08244
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