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    1345 Somers Point Rd Egg Harbor Township, NJ 08234

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    1345 Somers Point Rd Egg Harbor Township, NJ 08234

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    • Residential land & home lots
    Off-Market
    Property ID
    US59-0489546
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 1345 Somers Point Rd

    Property type
    Residential land & home lots

    Description

    Great 2 Acre Residential Country Homesite. Motivated Seller - Make Offer!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Egg Harbor Township
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.69707
    Latitude
    39.361275

    Comparable in this City

    • $239,900
      11.23 Acres

      Approved Lot in Egg Harbor

      11.23 acre lot, permit-ready for building in Egg Harbor.
      1242 Somers Point Rd, Egg Harbor Township, NJ 08234
      View Details
    • $200,000
      5.00 Acres

      Residential Land Near Somers Point

      Residential land with permits near Somers Point shopping and Parkway.
      1354 Old Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • $329,000
      4.67 Acres

      Buildable Lots in Serene Setting

      4.67-acre buildable lots for a dream home.
      6139 Mill Rd, Egg Harbor Township, NJ 08234
      View Details
    • $110,000
      3.34 Acres

      Residential Lot in Egg Harbor

      3.34 acre wooded lot suitable for residential development.
      4056 Ridge Ave, Egg Harbor Township, NJ 08234
      View Details
    • $62,500
      1.00 Acre

      Land For Commercial/Residential Development

      One to five acre lot suitable for commercial or residential development.
      4090 English Creek Ave, Egg Harbor Township, NJ 08234
      View Details
    • $100,000
      1.25 Acres

      Land for Residential Development

      Two lots totaling 1.25 acres for residential development.
      Eisenhower Ave, Egg Harbor Twp, NJ 08234
      View Details

    Similar Nearby for Sale

    • $239,900
      11.23 Acres

      Approved Lot in Egg Harbor

      11.23 acre lot, permit-ready for building in Egg Harbor.
      1242 Somers Point Rd, Egg Harbor Township, NJ 08234
      View Details
    • $200,000
      5.00 Acres

      Residential Land Near Somers Point

      Residential land with permits near Somers Point shopping and Parkway.
      1354 Old Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • $329,000
      4.67 Acres

      Buildable Lots in Serene Setting

      4.67-acre buildable lots for a dream home.
      6139 Mill Rd, Egg Harbor Township, NJ 08234
      View Details
    • $110,000
      3.34 Acres

      Residential Lot in Egg Harbor

      3.34 acre wooded lot suitable for residential development.
      4056 Ridge Ave, Egg Harbor Township, NJ 08234
      View Details
    • $62,500
      1.00 Acre

      Land For Commercial/Residential Development

      One to five acre lot suitable for commercial or residential development.
      4090 English Creek Ave, Egg Harbor Township, NJ 08234
      View Details
    • $100,000
      1.25 Acres

      Land for Residential Development

      Two lots totaling 1.25 acres for residential development.
      Eisenhower Ave, Egg Harbor Twp, NJ 08234
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease

      Land available for lease in Egg Harbor Township.
      6503 Delilah Rd, Egg Harbor Township, NJ 08234
      View Details
    • $1,995 /Mo

      Egg Harbor Township Storefront

      Storefront available for rent in Egg Harbor Township, NJ.
      501 Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • $1,950 /Mo
      304,049 SF

      Egg Harbor Township Flex Space

      Flex space available for rent in Egg Harbor Township, NJ.
      3393 Bargaintown Rd, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing

      Single Tenant Industrial Space

      Industrial space available for single tenant occupancy.
      200 W Parkway Dr, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing
      3,583 SF

      Retail Space For Lease

      Retail spaces available from 2,000 to 60,667 square feet.
      6718 Black Horse Pike, Egg Harbor Township, NJ 08234
      View Details
    • $28 SF/Yr
      304,049 SF

      Egg Harbor Township Flexspace

      Flexspace available for immediate occupancy near major highways.
      3393 Bargaintown Rd, Egg Harbor Township, NJ 08234
      View Details
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    1345 Somers Point Rd
    Egg Harbor Township, NJ 08234
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    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
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