Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Somers Point Retail Opportunity Title is generated by Realmo AI

    514 New Rd, Somers Point, NJ 08244

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    7,200 SF retail property in Somers Point, New Jersey.

    Type:Retail, Mixed Use
    Property size:
    7,200 SF
    Added:
    Oct 5, 2024
    Days on Market:
    606
    Last Refresh:
    May 12 at 11:01 pm

    Property Features for 514 New Rd

    General Information

    Standard status
    Active
    Size
    7,200 SF
    Property subtype
    Retail, Mixed Use

    We can help!

    Listing Contact
    Blaine Foreman

    Listing agent Blaine Foreman License #PA

    Listing office Metro Commercial Real Estate, Inc.

    Listing date Oct 5, 2024

    Source Crexi

    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 Metro Commercial Real Estate, Inc.

    HighLights

    • No property information was provided to analyze.

    Overview

    This 7,200 square foot property is available for sale. It is located in Somers Point, New Jersey. The property is suitable for retail and mixed-use purposes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Big Wally's Discount ... Furniture & Home Goods

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Somers Point
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.6020059
    Latitude
    39.3211648

    Nearby Similar for Sale

    • $549,000
      2,688 SF

      Somers Point Commercial Building For Sale

      2,688 SF commercial building in Somers Point, New Jersey.
      717 Shore Road, Somers Point, NJ 08244
      View Details
    • $549,000
      2,688 SF

      Prime Commercial Building on Shore Road

      Highly visible commercial building in Somers Point, near Shore Medical.
      717 Shore Road, Somers Point, NJ 08244
      View Details
    • $595,000
      3,000 SF

      Somers Point Professional Office Building

      Visible office building near Shore Medical Center in Somers Point.
      647 SHORE ROAD, SOMERS POINT, NJ 08244
      View Details
    • $1,225,000
      13,684 SF

      Prime Commercial Location in Somers

      High-visibility commercial property in Somers Point with strong market presence.
      505 New Rd, Somers Point, NJ 08244
      View Details
    • $549,900
      3,500 SF

      Prime Commercial Property, Somers Point

      Highly visible commercial property with flexible space in Somers Point.
      98 New Road, Somers Point, NJ 08244
      View Details
    • $549,900
      3,500 SF

      Prime Commercial Property, Somers Point

      Highly visible commercial property with flexible space in Somers Point.
      98 New Road, Somers Point, NJ 08244
      View Details
    • $549,900
      3,500 SF

      Prime Somers Point Commercial Property

      Highly visible commercial property with flexible space in Somers Point.
      98 New Road, Somers Point, NJ 08244
      View Details
    • $549,900
      3,099 SF

      Prime Commercial Property, Somers Point

      Highly visible commercial property with flexible space in Somers Point, NJ.
      98 NEW Road, SOMERS POINT, NJ 08244
      View Details
    • $2,300

      Medical/Professional Office Space Available

      Versatile office space in growing healthcare corridor.
      803 NEW ROAD, SOMERS POINT, NJ 08244
      View Details
    • $595,000
      2,688 SF

      Prime Commercial Building on Shore Road

      Highly visible commercial building in Somers Point, near Shore Medical.
      717 Shore Road, Somers Point, NJ 08244
      View Details
    • $1,995,000
      5,000 SF

      Medical/Professional Building Near Shore Medical

      Multi-tenant building with finished space available for owner/user.
      110 Harbor Ln, Somers Point, NJ 08244
      View Details
    • $1,225,000
      13,684 SF

      Prime Commercial Location in Somers

      High-visibility, multi-tenanted commercial property in Somers Point, New Jersey.
      505 NEW RD, SOMERS POINT, NJ 08244
      View Details

    FAQs

    What type of property is this?
    Retail property - 7,200 SF retail property in Somers Point, New Jersey.
    Where is this retail property located?
    The property is located at 514 New Rd Somers Point, NJ.
    What are key features of this property?
    This property features: No property information was provided to analyze.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Blaine Foreman
    Real Estate License ID: PA
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    514 New Rd, Somers Point, NJ 08244
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!