Three-Story Office
For Sale
$875,000
2611 Route 37, Toms River, NJ 08753
Three-story office building with private suites on each floor, plus basement storage and recent interior updates.
Property Size2,240 SF
Price / SF$390.63
Days on Market70
Property Features for 2611 Route 37
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Commercial
Additional Details
Office Units
10
Building Details
Year Built
1988
Stories
3
Listing Agency:
RE/MAX On the Move Realty
Listed By:
Fraidy Kaluszyner
(833) 740-1234
Source:
Actionplusrealty
Added: Jun 28
Changed: Sep 4
Last Checked: Sep 5 at 9:23AM
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 RE/MAX On the Move Realty
Investment Insights
Based on property information with market context.
2611 Route 37 is a well-maintained, three-story office building configured with private office suites on the first and second floors, with two communal restrooms serving each of those levels. The third floor is finished and includes two additional private office suites. A basement provides additional storage or flexible-use space. Recent updates include new flooring and fresh paint throughout.
The property is situated on a highly traveled main road with outstanding visibility and ample parking. It offers easy access and serves as a versatile option for investors or owner-occupants.
Overall, the building’s suite-based layout supports a range of office tenancy needs while maintaining consistent restroom access across the upper floors.
The property is situated on a highly traveled main road with outstanding visibility and ample parking. It offers easy access and serves as a versatile option for investors or owner-occupants.
Overall, the building’s suite-based layout supports a range of office tenancy needs while maintaining consistent restroom access across the upper floors.
Key Highlights
- Three‑story office building built in 1988 with finished third floor office space and basement storage/flex space
- First floor: four private office suites plus two communal restrooms
- Second floor: four private office suites plus two communal restrooms
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
$34,272
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
3.92%
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%
$685,440
$685.4K
Cap Rate 7%
$489,600
$489.6K
Cap Rate 9%
$380,800
$380.8K
Market Conditions
NOI Build-Up for 2,240 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
$67.2K $30.00/SF
− Vacancy
−$21.5K −$9.60/SF
EGI
$45.7K $20.40/SF
− OpEx
−$11.4K −$5.10/SF
NOI
$34.3K $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%
$685,440
Cap Rate 7%
$489,600
Cap Rate 9%
$380,800
Alternative Uses
Best Use
Office B
$489.6K
$428.4K – $571.2K
NOI $34,272 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$584.9K
$511.8K – $682.4K
NOI $40,944 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Location Intelligence
Trade Area within ½ mile
361
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-story office building with private suites on each floor, plus basement storage and recent interior updates.
Where is this office building located?
The property is located at 2611 Route 37 Toms River, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three‑story office building built in 1988 with finished third floor office space and basement storage/flex space; First floor: four private office suites plus two communal restrooms; Second floor: four private office suites plus two communal restrooms
