Property profile

99 Mays Lndg Rd Somers Point, NJ 08244

OFF-MARKET
Industrial properties
Property ID
US59-2092563
840 SF 0.35 ac lot Built 1961
Individually Owned Free & Clear
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Property summary

AI-generated overview

This vacant, 1,000-square-foot industrial property at 99 Mays Landing Rd, Somers Point, NJ 08244, presents a compelling investment opportunity. The single-story, 1961-built building sits on a 15,080-square-foot lot and is classified as Class C. Priced at $375,000 ($375/sq ft), it offers a 10% cap rate. The property features one loading dock and two dock-high doors within a 780-square-foot garage (26'W x 30'L with 14' ceilings). The garage doors measure 10'W x 12'H. Three oil tanks (two 25,000-gallon and one 65,000-gallon, one not in service) and an oil loading deck are also present. The property is zoned HC-1 (Highway Commercial-One District), allowing for diverse uses including retail, restaurants, offices, banks, personal service establishments, minor repair operations, and more, subject to zoning regulations. This high-traffic location near the Garden State Parkway offers excellent visibility and accessibility. The property's flexible zoning and existing infrastructure make it suitable for a variety of commercial ventures. The building is currently vacant, providing immediate occupancy for the new owner. This is a rare opportunity to acquire a well-located industrial property with significant potential for redevelopment or repurposing.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1961
Construction CONCRETE BLOCKS
Total area 840 SF
Lot 0.35 ac (15,080 SF)
Zoning code HC-1
APN 21 01945-0000-00001
UPID US59-2092563

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

99 Mays Lndg Rd Somers Point, NJ 08244
Somers Point metro Census 12702 ATLANTIC CITY, NJ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Blend (final) Blend
$270k

Owner & transaction history

Zoning & alternative use

HC-1 · Somers Point, NJ
Zoning description

Eating and drinking establishments shall be governed by the landscaping regulations of the HC-1 District, as contained in Article VIII , § 114-50 . B. Regulations governing motel and recreational sport facility uses: (1)…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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