Three-Story Office
For Sale
$875,000
2611 Route 37, Toms River, NJ 08753
Commercial Sale, Toms River, NJ
Property Size2,240 SF
Lot Size0.23 Acres
Price / SF$390.63
Days on Market48
Property Features for 2611 Route 37
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office
Rooms
Basement
Parking
21
Fencing
Fenced
Basement
Full
Lot features
Highway Frontage, Corner Lot
Directions
Rt 37 east past Coolidge Ave. toward bridge, corner of lloyd Rd. & Rt 37, located on right
Subdivision
Toms River
Standard status
Active
APN
08-00794-03-00005
Size
2,240 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8316
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Floors in Building
2
Roof type
Shingle
Listing Agency:
RE/MAX On the Move Realty
(732) 901-0701
Listed By:
Fraidy Kaluszyner · License #1650661
(732) 901-0701
Added: Jul 9
Changed: Aug 24
Last Checked: Aug 25 at 5:06AM
MLS# 22620838
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.
This 2,240-square-foot office building was constructed in 1988 and is arranged across three finished levels. The first and second floors each contain four private office suites and two communal restrooms, while the third floor adds two more private suites. A basement provides additional storage or flexible-use space. Recent improvements include new flooring and fresh paint throughout.
The property sits on a 0.23-acre parcel along Route 37 and includes parking, fencing, and access from a highly traveled main road. Building systems include forced-air heat and central air conditioning. Public water and public sewer serve the property, and the roof is shingle.
The property sits on a 0.23-acre parcel along Route 37 and includes parking, fencing, and access from a highly traveled main road. Building systems include forced-air heat and central air conditioning. Public water and public sewer serve the property, and the roof is shingle.
Key Highlights
- 2,240 square feet across three finished office levels
- Eight private office suites: four on each of the first two floors and two on the third
- Two communal restrooms on both the first and second floors
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
Yes
Paved road access
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 - Office property with multiple private suites, basement storage, updated interiors, and central air conditioning.
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: 2,240 square feet across three finished office levels; Eight private office suites: four on each of the first two floors and two on the third; Two communal restrooms on both the first and second floors
