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    Light Industrial Development Parcel Title is generated by Realmo AI

    1599 Route 9, Toms River, NJ 08755

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    Claim this Listing
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    For Sale
    $18,000,000

    COMMERCIAL - Toms River, NJ

    Lot size:
    22.70 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 8:06 am

    Property Features for 1599 Route 9

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    999999
    Lot size
    22.70 Acres

    We can help!

    Listing Contact
    Michael H Little

    Listing agent Michael H Little License #9804215

    Listing office Keller Williams Shore Properties 1030 Hooper Ave., Toms River, NJ

    Listing date Jun 2, 2026

    MLS# 22616330 Listing URL

    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.

    HighLights

    • 22.7‑acre Light Industrial zone parcel on Rt 9 in Toms River
    • Approved storage and warehouse space: 91,650 SF self storage, 73,686 SF warehouse, and 11,252 SF office
    • Land parcel approvals on Rt 9 include 4.57 acres (1593) and 7.51 acres (1599) for the 91,650 SF self storage and associated space
    • Adjoining 10.62‑acre parcel with no approvals or concept plan; could develop up to 152,000 SF warehouse or similar use
    • Unapproved land on Rt 9 includes 10.42 acres (1579) plus 0.2 acres (1581)
    • Permitted uses include light manufacturing, warehousing/storage (excluding hazardous chemical storage), and mini warehouse facilities, among other industrial uses

    Overview

    This 22.7-acre light industrial parcel is offered as a development opportunity with approved plans. The property includes approved development for self storage, warehouse, and office components, totaling 91,650 square feet of self storage, 73,686 square feet of warehouse, and 11,252 square feet of office space. Permitted use includes light manufacturing, warehousing and storage of goods (excluding hazardous chemical warehousing), wholesaling and distributing (with an exclusion for used automobile distribution), scientific or research laboratories, executive or administrative office for an industrial or business concern, and certain government and essential services, along with mini warehouse facilities including one dwelling.

    The site is located in the Light Industrial zone on Hwy Rt 9 in Toms River, NJ. An adjoining 10.62-acre property is also referenced; it currently has no approvals or concept plan, but could potentially support development up to 152,000 square feet of warehouse or a similar use, subject to approvals.

    With its mix of approved self-storage, warehouse, and office space and broad light-industrial permitted uses, the property is well-suited for developers seeking a phased industrial and storage platform. Investors and operators may also view it as a control point for coordinated logistics, distribution, and storage with an administrative component, leveraging the existing approvals in place for key program areas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Toms River
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.213206
    Latitude
    40.008264

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    FAQs

    What type of property is this?
    Industrial land - Large light-industrial parcel with approved self-storage, warehouse, and office space potential on Route 9.
    Where is this industrial land located?
    The property is located at 1599 Route 9 Toms River, NJ.
    What is the asking price?
    The asking price for this property is $18,000,000.
    What are key features of this property?
    This property features: 22.7‑acre Light Industrial zone parcel on Rt 9 in Toms River; Approved storage and warehouse space: 91,650 SF self storage, 73,686 SF warehouse, and 11,252 SF office; Land parcel approvals on Rt 9 include 4.57 acres (1593) and 7.51 acres (1599) for the 91,650 SF self storage and associated space
    (732) 797-9001
    We can help!
    Listing Contact
    Michael H Little
    Real Estate License ID: 9804215
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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.

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    1599 Route 9, Toms River, NJ 08755
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