Two-Story Medical Office
New
For Sale
$824,999
151 NJ-37, Toms River, NJ 08755
Commercial Sale, Toms River, NJ
Property Size3,180 SF
Lot Size0.50 Acres
Price / SF$259.43
Days on Market5
Property Features for 151 NJ-37
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking features
Parking Lot
Basement
Partially Finished, Full, Walk-Out Access, Finished
Lot features
Highway Frontage
Directions
GPS
Subdivision
Silver Ridge
Standard status
Active
APN
08-00536-01-00006
Size
3,180 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6946
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
walk-out basement
bilco doors
public water
public sewer
natural gas
forced-air heat
central air
Building Details
Year built
1970
Floors in Building
1
Flooring type
Linoleum
Roof type
Shingle
Listing Agency:
Real Broker, LLC- Toms River
Listed By:
Isaac Nussbaum · License #1647137
(732) 341-2227
Added: Sep 16
Last Checked: Sep 20 at 6:06PM
MLS# 22629258
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,180-square-foot medical office property includes two stories and a full walk-out basement with Bilco doors. The first floor contains a waiting area, reception area, four exam rooms, a private office, two support rooms, and three half baths. The upper level provides two finished rooms that can serve as offices, administrative areas, or staff space. A linoleum finish, forced-air heat, central air, public water, public sewer, and natural gas support ongoing use.
The property fronts NJ-37 in Toms River and includes approximately 198 feet of lot width, a paved parking lot with 18 spaces, and a shingle roof. It is located within the Township’s HB Highway Business Zone, which allows a range of commercial uses subject to applicable due diligence, site-plan requirements, and municipal approvals. The building was constructed in 1970 and was previously used as a dental office.
The property fronts NJ-37 in Toms River and includes approximately 198 feet of lot width, a paved parking lot with 18 spaces, and a shingle roof. It is located within the Township’s HB Highway Business Zone, which allows a range of commercial uses subject to applicable due diligence, site-plan requirements, and municipal approvals. The building was constructed in 1970 and was previously used as a dental office.
Key Highlights
- 3,180‑square‑foot two‑story medical office property
- First floor includes four exam rooms, private office, two support rooms, and three half baths
- Full walk‑out basement with Bilco doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,654
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$973,080
$973.1K
Cap Rate 7%
$695,057
$695.1K
Cap Rate 9%
$540,600
$540.6K
Market Conditions
NOI Build-Up for 3,180 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$95.4K $30.00/SF
− Vacancy
−$30.5K −$9.60/SF
EGI
$64.9K $20.40/SF
− OpEx
−$16.2K −$5.10/SF
NOI
$48.7K $15.30/SF
Area
Ocean County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$973,080
Cap Rate 7%
$695,057
Cap Rate 9%
$540,600
Alternative Uses
Best Use
Office B
$695.1K
$608.2K – $810.9K
NOI $48,654 @ 7.0% cap · market cap 5.90%
Second Best
Healthcare Medical
$676.4K
$591.9K – $789.2K
NOI $47,349 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$830.4K
$726.6K – $968.8K
NOI $58,125 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,408
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08755, NJ
28,643
Population
11,318
Households
2.5
Avg Household Size
44
Median Age
33%
College-Educated
92%
High-School Grad
16.0 sq mi
ZIP Area
1,790
Density / Sq Mi
$81,077
Median Household Income
$54,183
Median Earnings
$1,484
Median Rent
$379,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Highway-facing professional property with paved parking, multiple treatment rooms, and a walk-out basement.
Where is this medical office space located?
The property is located at 151 NJ-37 Toms River, NJ.
What is the asking price?
The asking price for this property is $824,999.
What are key features of this property?
This property features: 3,180‑square‑foot two‑story medical office property; First floor includes four exam rooms, private office, two support rooms, and three half baths; Full walk‑out basement with Bilco doors
