Storefront Property with
For Sale
$699,999
98 New Road, Somers Point, NJ 08244
COMMERCIAL/INDUSTRIAL, Somers Point, NJ
Property Size3,100 SF
Price / SF$225.81
Days on Market10
Property Features for 98 New Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GB
Parking features
Off Street
Exterior features
Sign
Lot features
Corner, Mainland
Directions
Intersection of New Rd & Bethel Rd - 98 New Rd Somers Point
Subdivision
Somers Point City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12506
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Number of units
4
Roof type
Asphalt
Buildings
1
Listing Agency:
LEVIN COMMERCIAL REAL ESTATE, LLC
(609) 344-5200
Listed By:
LEE JEROME · License #1004962
(609) 289-6887
Added: Oct 22
Changed: Oct 30
Last Checked: Oct 31 at 10:06AM
MLS# 613373
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.
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Investment Insights
Based on property information with market context.
This storefront property contains an approximately 3,100 SF building and a large parking lot. The site has public water and sewer, with multiple gas and electric meters already installed. General Business zoning allows a range of commercial uses. Draft plans have also been prepared for conversion to four residential units.
The property is at 98 New Road in Somers Point, along the Route 9 corridor. Estimated traffic on the corridor exceeds 36,000 vehicles per day. The existing building could accommodate multiple commercial units or a single-user pad site, according to the stated site configuration.
The property is at 98 New Road in Somers Point, along the Route 9 corridor. Estimated traffic on the corridor exceeds 36,000 vehicles per day. The existing building could accommodate multiple commercial units or a single-user pad site, according to the stated site configuration.
Key Highlights
- Approximately 3,100 SF building
- Estimated corridor traffic exceeds 36,000 vehicles per day
- GB zoning allows a range of commercial uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,783
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,660
$595.7K
Cap Rate 7%
$425,471
$425.5K
Cap Rate 9%
$330,922
$330.9K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$46.5K $15.00/SF
− Vacancy
−$4.0K −$1.28/SF
EGI
$42.5K $13.73/SF
− OpEx
−$12.8K −$4.12/SF
NOI
$29.8K $9.61/SF
Area
Atlantic County, NJ
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,660
Cap Rate 7%
$425,471
Cap Rate 9%
$330,922
Alternative Uses
Best Use
Retail
$425.5K
$372.3K – $496.4K
NOI $29,783 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.15M
$1.01M – $1.35M
NOI $80,809 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
36,000 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
206k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Groceries 28%
Dining 20%
Office Supplies 8%
ShopRite
Groceries
56,860 visits/mo
0.3 miles
Wawa
Shops & Services
35,231 visits/mo
0.2 miles
Dollar Tree
Shops & Services
20,262 visits/mo
0.2 miles
Applebee's
Dining
17,461 visits/mo
0.2 miles
Staples
Office Supplies
15,702 visits/mo
0.3 miles
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- El Jardin Del Tiempo — 2048 West Ave, Linwood, NJ 08221
Frequently Asked Questions
What type of property is this?
Storefront property - GB zoning supports varied commercial uses, and the site has public utilities plus multiple gas and electric meters.
Where is this storefront property located?
The property is located at 98 New Road Somers Point, NJ.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Approximately 3,100 SF building; Estimated corridor traffic exceeds 36,000 vehicles per day; GB zoning allows a range of commercial uses
