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Property profile & analytics
FOR LEASE
Office Spaces
331 New Rd Somers Point, NJ 08244
Individually Owned
Absentee Owner
Free & Clear
Property ID
US59-0909885
For Lease
Contact for pricing
331 New Rd, Somers Point, NJ 08244
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1997
Construction
METAL FRAME
Total area
32,906 SF
Zoning code
GB
APN
21 00516-0000-00013-0000-C0001
UPID
US59-0909885
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
-
McNaughton's Garden Center Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.91M
Comparable Approach
Comparable
$7.47M
Blend (final)
Blend
$7.28M
Owner & transaction history
NOT AVAILABLE FROM DATA SOURCE
NOT AVAILABLE FROM DATA SOURCE
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
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%
$8,570,000
6.5%
$7,910,000
7%
$7,345,000
Blend value · Realmo final
$7.28M
Range $6.55M – $8.01M · ±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
$221 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$113,455
Tax year 2023
Assessed value
$3,269,600
Assessed 2024
Previous assessed
$3,269,600
+0.0% YoY
Effective rate
3.47%
On assessed value
Assessed land
$2,300,000
Assessed improvement
$969,600
Land market value
$2,300,000
Improvement market value
$969,600
Total market value
$3,269,600
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Lease
Year built
1997
Construction
METAL FRAME
Stories
1
Total area
32,906 SF
Zoning code
GB
APN
21 00516-0000-00013-0000-C0001
UPID
US59-0909885
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
Building & site characteristics
From public records
Year built
1997
Construction
METAL FRAME
Stories
1
Current owner
From public records · entity-resolved
NOT AVAILABLE FROM DATA SOURCE
Individual
Free & Clear · 0 yrs held
Mailing address
351 KRESSON RD, CHERRY HILL, NJ 08034-3354
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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