County Courthouse Office
For Sale
$2,399,000
206 Court House Lane, Toms River, NJ 08753
COMMERCIAL - Toms River, NJ
Property Size8,280 SF
Lot Size0.09 Acres
Price / SF$289.73
Days on Market299
Property Features for 206 Court House Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Assigned, Parking Lot
Directions
GPS
Subdivision
Toms River
Standard status
Active
APN
08-00660-0000-00016
Size
8,280 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19789
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Listing Agency:
A.W. Van Winkle
(201) 939-0500
Listed By:
Damoun Yashar
(310) 430-9070
Added: Nov 7, 2025
Changed: Aug 4
Last Checked: Sep 2 at 8:06PM
MLS# 22533400
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.
For sale: an office building leased to the County of Ocean and currently used as a courthouse. The property is described as having an absolute net lease structure.
The building is located at 206 Court House Lane in Toms River, NJ, within the Ocean County Courthouse complex and among key municipal offices.
The asset size is listed as 8,280 square feet on a 0.09-acre lot.
The building is located at 206 Court House Lane in Toms River, NJ, within the Ocean County Courthouse complex and among key municipal offices.
The asset size is listed as 8,280 square feet on a 0.09-acre lot.
Key Highlights
- Leased to the County of Ocean and used as a courthouse
- Absolute net lease structure
- Public parking lot with assigned parking
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
$126,684
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
5.28%
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%
$2,533,680
$2.5M
Cap Rate 7%
$1,809,771
$1.8M
Cap Rate 9%
$1,407,600
$1.4M
Market Conditions
NOI Build-Up for 8,280 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
$248.4K $30.00/SF
− Vacancy
−$79.5K −$9.60/SF
EGI
$168.9K $20.40/SF
− OpEx
−$42.2K −$5.10/SF
NOI
$126.7K $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%
$2,533,680
Cap Rate 7%
$1,809,771
Cap Rate 9%
$1,407,600
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,684 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,345 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 08753, NJ
64,369
Population
27,900
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
2,799
Density / Sq Mi
$101,648
Median Household Income
$54,291
Median Earnings
$1,742
Median Rent
$377,200
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 building - Office building leased to the County of Ocean and used as a courthouse under an absolute net lease structure.
Where is this office building located?
The property is located at 206 Court House Lane Toms River, NJ.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Leased to the County of Ocean and used as a courthouse; Absolute net lease structure; Public parking lot with assigned parking
