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Property profile & analytics
OFF-MARKET
Estimated value
$9,480,000
Commercial real estate
271 New Rd Somers Point, NJ 08244-2177
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1534693
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1986
Total area
52,280 SF
Lot
9.96 ac (433,858 SF)
Zoning code
GB
APN
21 00499-0000-00014- 04
UPID
US59-1534693
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
PetSmart (Bike/Boat/Book/etc) Store Pet Store & Service
-
TagWorks (Bike/Boat/Book/etc) Store Pet Store & Service
-
PetSmart Dog Training Animal Training
-
PetSmart Grooming Pet Grooming Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.95M
Comparable Approach
Comparable
$10.00M
Blend (final)
Blend
$9.48M
Owner & transaction history
Somers Point Builders INC · 5 yrs held
Somers Point Builders INC
since 2021
7 recorded transactions
Zoning & alternative use
GB · Somers Point, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
14-28 Permitted uses. § 114-29 Area and bulk requirements. § 114-30 Additional design criteria. § 114-31 Open space consideration. § 114-32 Public access. § 114-33 Development subject to review and approval. Article VII GB General Business District § 114-34 Intent; applicable regulations. § 114-35 Permitted uses. § 114-36 Area and bulk requirements for permi…
Zone name
General Business
General category
COMMERCIAL
Zone area
126.41 ac
Top alternative use upside
Office building
$15.0M
+61.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Somers Point submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somers Point submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,940,000
6.5%
$11,945,000
7%
$11,090,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,315,000
Current use
OFFICE BUILDING
$15,000,000
Change: +61% · Conversion: Easy
Blend value · Realmo final
$9.48M
Range $8.53M – $10.43M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$181 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$263,404
Tax year 2022
Assessed value
$7,884,000
Assessed 2023
Previous assessed
$7,884,000
+0.0% YoY
Effective rate
3.34%
On assessed value
Assessed land
$4,738,000
Assessed improvement
$3,146,000
Land market value
$4,738,000
Improvement market value
$3,146,000
Total market value
$7,884,000
Applied tax rate
21.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1986
Heating
NONE
Units
1
Total area
52,280 SF
Lot
9.96 ac (433,858 SF)
Zoning code
GB
APN
21 00499-0000-00014- 04
UPID
US59-1534693
Jurisdiction
ATLANTIC
Zoning & alternative use
GB · Somers Point, NJZoning GB · permitted uses
GB · Somers Point, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
14-28 Permitted uses. § 114-29 Area and bulk requirements. § 114-30 Additional design criteria. § 114-31 Open space consideration. § 114-32 Public access. § 114-33 Development subject to review and approval. Article VII GB General Business District § 114-34 Intent; applicable regulations. § 114-35 Permitted uses. § 114-36 Area and bulk requirements for permitted uses in §§ 114-35A(1) and (2) and 114-35B. § 114-37 Minimum floor area. § 114
Zone name
General Business
General category
COMMERCIAL
Zone area
126.41 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$9.3M
OFFICE BUILDING
Est. value
$15.0M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Units
1
Lot
9.96 ac
Current owner
From public records · entity-resolved
Somers Point Builders INC
Entity
Mailing address
1535 CHESTNUT ST, PHILADELPHIA, PA 19102-2541
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2021
—
Somers Point Builders INC
—
Deed
related
$3,200,000 · Valley Bank
Jul 7, 2009
—
Somers Point LLC
—
Deed Of Trust
related
$2,200,000 · Td Bank NA
—
—
Free-man Of Somers Point LLC
—
Deed Of Trust
related
$12,000,000 · Td Bk NA
—
—
Somers Point LLC
—
Deed Of Trust
related
$12,000,000 · Td Bank NA
—
—
Gemini Holdings Of Somers Point L
—
Deed Of Trust
related
$5,000,000 · Washington Mutual Fsb
—
—
Gemini Holdings Of Somers Point L
—
Deed Of Trust
related
$2,250,000 · Washington Mutual Fsb
—
—
Somers Point Builders INC
—
Deed Of Trust
related
$3,200,000 · Valley Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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