Route 37 East Office
For Sale
Contact for pricing
Pending
25 Route 37 East, Toms River, NJ 08753
Three office buildings on 0.832 acres near Garden State Parkway.
Property Size5,740 SF
Lot Size0.83 Acres
Days on Market640
Property Features for 25 Route 37 East
General Information
Standard status
Pending
Size
5,740 SF
Lot size
0.83 Acres
Property subtype
Office
Zoning
HB -Highway Business
Investment Type
Owner/User
Building Details
Year Built
1977
Buildings
3
Stories
2
Units
3
Listing Agency:
Crossroads Realty Toms River
(732) 244-4900
Listed By:
Mark Kotzas · License #NJ 7800664
Source:
Crexi
Added: Nov 20, 2024
Changed: Aug 21
Last Checked: Aug 21 at 9:51PM
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 Crossroads Realty Toms River
Investment Insights
Based on property information with market context.
This investment property features three office buildings situated on 0.832 acres in a prime location on Route 37 East, approximately 1/8 of a mile from Garden State Parkway exit 82. The main building, located at 25 Route 37, encompasses 5740 square feet across two stories, featuring private offices, large work spaces, and a conference/training room. This building will be delivered vacant and is not handicap accessible. Additionally, there are two other office buildings at 21 Route 37 and 17 Route 37, which are currently leased on short-term leases. The building at 21 Route 37 East is a two-story office of approximately 1,500 square feet with additional basement storage; the first floor is handicap accessible. The building at 17 Route 37 is approximately 2,714 square feet and has separate entrances for each floor. All three properties are being sold as a package. The sale includes approvals for a three-story building of approximately 12,000 square feet.
Key Highlights
- Prime location on Route 37 East, 1/8 mile from Garden State Parkway Exit 82.
- Package sale includes three office buildings on .832 acres.
- Approvals in place for a +/- 12,000 square foot three‑story building.
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
$87,822
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
3.74%
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%
$1,756,440
$1.8M
Cap Rate 7%
$1,254,600
$1.3M
Cap Rate 9%
$975,800
$975.8K
Market Conditions
NOI Build-Up for 5,740 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
$172.2K $30.00/SF
− Vacancy
−$55.1K −$9.60/SF
EGI
$117.1K $20.40/SF
− OpEx
−$29.3K −$5.10/SF
NOI
$87.8K $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%
$1,756,440
Cap Rate 7%
$1,254,600
Cap Rate 9%
$975,800
Alternative Uses
Best Use
Office B
$1.25M
$1.10M – $1.46M
NOI $87,822 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,918 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
944
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 - Three office buildings on 0.832 acres near Garden State Parkway.
Where is this office building located?
The property is located at 25 Route 37 East Toms River, NJ.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Prime location on Route 37 East, 1/8 mile from Garden State Parkway Exit 82.; Package sale includes three office buildings on .832 acres.; Approvals in place for a +/- 12,000 square foot three‑story building.
