Medical Office
For Sale
Contact for pricing
20 Hospital Drive #23, Toms River, NJ 08755
Undemised space can accommodate a medical practice, physical therapy, or Pilates use.
Property Size62,270 SF
Price / SF$0.02
Days on Market15
Property Features for 20 Hospital Drive #23
General Information
Standard status
Active
Size
62,270 SF
Class
Class B
Property subtype
Office
Additional Details
Property Use
Medical Office
Medical Specialty
physical therapy
Building Details
Year Built
1972
Buildings
1
Stories
3
Building Size
62,270 SF
Tenancy
Multi
Listing Agency:
C21/ Action Plus Realty
Listed By:
Joan L Velardi · License #0337813
(800) 299-2129
Source:
Defelicerealtygroup
Added: Oct 18
Changed: Oct 31
Last Checked: Oct 31 at 2:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of C21/ Action Plus Realty
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Investment Insights
Based on property information with market context.
Unit 23 is a 1,249-square-foot medical office condominium within a three-story, Class B building constructed in 1972. The unit is not demised, allowing the interior to be configured for a medical office, physical therapy, or Pilates use. The building contains approximately 62,270 square feet and has on-site surface parking.
At 20 Hospital Drive in Toms River, the property sits directly across from Community Medical Center, within an established healthcare corridor.
At 20 Hospital Drive in Toms River, the property sits directly across from Community Medical Center, within an established healthcare corridor.
Key Highlights
- 1,249‑square‑foot medical office condominium, Unit 23
- Undemised interior; potential uses include medical office, physical therapy, or Pilates
- Three‑story, Class B building constructed in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,597
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,940
$371.9K
Cap Rate 7%
$265,671
$265.7K
Cap Rate 9%
$206,633
$206.6K
Market Conditions
NOI Build-Up for 1,249 SF
Gross rent
$33.0K $26.40/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$31.0K $24.82/SF
− OpEx
−$12.4K −$9.93/SF
NOI
$18.6K $14.89/SF
Area
Ocean County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,940
Cap Rate 7%
$265,671
Cap Rate 9%
$206,633
Alternative Uses
Best Use
Office B
$273.0K
$238.9K – $318.5K
NOI $19,110 @ 7.0% cap · market cap 95,550.00%
Second Best
Healthcare Medical
$265.7K
$232.5K – $310.0K
NOI $18,597 @ 7.0% cap · market cap 92,985.00%
Theoretical Best
Office A
$326.1K
$285.4K – $380.5K
NOI $22,830 @ 7.0% cap · market cap 114,150.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
Under-served
Demand for This Use
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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
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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 - Undemised space can accommodate a medical practice, physical therapy, or Pilates use.
Where is this medical office space located?
The property is located at 20 Hospital Drive #23 Toms River, NJ.
What are key features of this property?
This property features: 1,249‑square‑foot medical office condominium, Unit 23; Undemised interior; potential uses include medical office, physical therapy, or Pilates; Three‑story, Class B building constructed in 1972
