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    Medical/Professional Office Condominium For Sale Title is generated by Realmo AI

    601 W Route 37 W, Toms River, NJ 08755

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    Claim this Listing
    Pending
    $500,000

    COMMERCIAL - Toms River, NJ

    Type:Office
    Lot size:
    0.02 Acres
    Added:
    Nov 10, 2023
    Days on Market:
    934
    Last Refresh:
    Jun 1 at 5:06 am

    Property Features for 601 W Route 37 W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Rooms
    Basement
    Parking
    80
    Interior features
    Fluorescent
    Standard status
    Pending
    APN
    08-00507-31-00013-0000-C0100
    Lot size
    0.02 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    17031

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Vinyl
    Roof type
    Flat

    We can help!

    Listing Contact
    Mark Kotzas

    Listing agent Mark Kotzas License #7933305

    Listing office Crossroads Realty, Inc. 81 E Water Street Suite 1A, Whiting, NJ

    Listing date Nov 10, 2023

    MLS# 22331346

    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

    • Prime location near RWJ/Barnabas / Community Medical Center Hospital and large adult communities.
    • 3,897 sq ft ground floor unit with handicap access.
    • Equipped with 4 exam rooms, 5 private offices (convertible to exam rooms), nurses station, and laboratory.
    • Includes a large waiting room, conference room, and break room.
    • Features 3 private bathrooms.
    • Ample onsite parking.

    Overview

    This medical/professional office condominium is located just east of RWJ/Barnabas/Community Medical Center Hospital, and just outside of Holiday City and Silver Ridge Park Adult Communities. The unit, consisting of suites 100, 101 & 103, offers 3,897 square feet of space on the ground floor with handicap access. The layout includes 4 exam rooms, 5 private offices (which can be used as exam rooms), a nurses station, a laboratory, a large waiting room, a conference room, a break room, and 3 private bathrooms. Ample on-site parking is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Vet Supporter — 891-899 NJ-37, Toms River, NJ 08755
    • PriorityVet - Pet Urgent Care of Toms River , NJ — 226 NJ-37, Toms River, NJ 08755

    Location Insight

    • Map
    • Local Demand
    City
    Toms River
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.230596
    Latitude
    39.967716

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    FAQs

    What type of property is this?
    Medical Office Space - Medical/Professional office condominium near hospital and adult communities.
    Where is this medical office space located?
    The property is located at 601 W Route 37 W Toms River, NJ.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime location near RWJ/Barnabas / Community Medical Center Hospital and large adult communities.; 3,897 sq ft ground floor unit with handicap access.; Equipped with **4 exam rooms**, 5 private offices (convertible to exam rooms), nurses station, and laboratory.
    (732) 244-4900
    We can help!
    Listing Contact
    Mark Kotzas
    Real Estate License ID: 7933305
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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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    601 W Route 37 W, Toms River, NJ 08755
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