Leased Courthouse Office
For Sale
$2,399,000
206 Court House Lane, Toms River, NJ 08753
Office building leased to the County of Ocean and used as a courthouse within the Ocean County Courthouse complex.
Property Size8,280 SF
Price / SF$289.73
Days on Market394
Property Features for 206 Court House Lane
General Information
Standard status
Active
Size
8,280 SF
Property subtype
Office
Amenities
3
Parking.
Assigned Parking Space.
Building Details
Year Built
1953
Tenancy
Single
Listing Agency:
A.W. Van Winkle
(201) 939-0500
Listed By:
Damoun Yashar
(201) 939-0500
Source:
Xome
Added: Jul 13, 2025
Changed: Aug 8
Last Checked: Aug 10 at 2:32AM
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 A.W. Van Winkle
Investment Insights
Based on property information with market context.
This leased office building is currently used as a courthouse by the County of Ocean. The offering is described as an absolute net lease structure.
The property is located within the Ocean County Courthouse complex and near key municipal offices in Toms River, supporting an institutional setting.
The building is presented for sale as an income-focused investment with an established tenant and courthouse use in place.
The property is located within the Ocean County Courthouse complex and near key municipal offices in Toms River, supporting an institutional setting.
The building is presented for sale as an income-focused investment with an established tenant and courthouse use in place.
Key Highlights
- Office building leased to the County of Ocean and used as a courthouse
- Located within the Ocean County Courthouse complex
- Absolute net lease structure
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
1,602
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
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Frequently Asked Questions
What type of property is this?
Office building - Office building leased to the County of Ocean and used as a courthouse within the Ocean County Courthouse complex.
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: Office building leased to the County of Ocean and used as a courthouse; Located within the Ocean County Courthouse complex; Absolute net lease structure
