One-Story End-Unit Medical
For Sale
$265,000
1163 NJ 37, Toms River, NJ 08755
COMMERCIAL - Toms River, NJ
Property Size1,352 SF
Price / SF$196.01
Days on Market151
Property Features for 1163 NJ 37
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, Professional
Rooms
Basement
Parking features
Parking Lot
Directions
Route 37 West between St Catherine Blvd and Bananier Dr. The office is located on the east side of Route 37 West. The last right before Bananier Dr.
Standard status
Active
APN
08-000506-02-00026-04-C01D
Size
1,352 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Listing Agency:
Coldwell Banker Riviera Realty
(732) 244-8093
Listed By:
Elizabeth M Sheridan
(732) 244-8093
Added: Mar 25
Changed: Aug 4
Last Checked: Aug 22 at 6:06AM
MLS# 22607947
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.
Available as a one-story end unit office condo, the space includes an entry foyer, waiting room, administrative office with storage, and a kitchenette. The interior is set up with three exam rooms with sinks, two restrooms, and an office that features a private entrance. Two of the offices include exam tables included with the sale.
The property is located close to the RW Barnabas outpatient building and just over a mile to Community Medical Center, with ample parking provided on both the front and side of the building.
This configuration supports medical or office uses needing patient flow through a waiting room and multiple exam rooms, along with convenient parking for staff and visitors.
The property is located close to the RW Barnabas outpatient building and just over a mile to Community Medical Center, with ample parking provided on both the front and side of the building.
This configuration supports medical or office uses needing patient flow through a waiting room and multiple exam rooms, along with convenient parking for staff and visitors.
Key Highlights
- Prime location close to RW Barnabas outpatient building and Community Medical Center.
- Functional layout includes entry foyer, waiting room, administrative office, kitchenette, three exam rooms with sinks, two restrooms, and office with private entrance.
- One‑story end unit office condo.
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
$20,686
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
7.81%
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%
$413,720
$413.7K
Cap Rate 7%
$295,514
$295.5K
Cap Rate 9%
$229,844
$229.8K
Market Conditions
NOI Build-Up for 1,352 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
$40.6K $30.00/SF
− Vacancy
−$13.0K −$9.60/SF
EGI
$27.6K $20.40/SF
− OpEx
−$6.9K −$5.10/SF
NOI
$20.7K $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%
$413,720
Cap Rate 7%
$295,514
Cap Rate 9%
$229,844
Alternative Uses
Best Use
Office B
$295.5K
$258.6K – $344.8K
NOI $20,686 @ 7.0% cap · market cap 7.81%
Second Best
Healthcare Medical
$287.6K
$251.6K – $335.5K
NOI $20,131 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$353.0K
$308.9K – $411.9K
NOI $24,712 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - One-story end-unit office condo with exam rooms, sinks, two restrooms, kitchenette, and ample front and side parking.
Where is this office units located?
The property is located at 1163 NJ 37 Toms River, NJ.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Prime location close to RW Barnabas outpatient building and Community Medical Center.; Functional layout includes entry foyer, waiting room, administrative office, kitchenette, three exam rooms with sinks, two restrooms, and office with private entrance.; One‑story end unit office condo.
