Renovated Mixed-Use
For Sale
$1,099,000
3103 Veeder Avenue, Toms River, NJ 08753
Commercial Sale, Toms River, NJ
Property Size2,432 SF
Lot Size0.34 Acres
Price / SF$451.89
Days on Market91
Property Features for 3103 Veeder Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot, Off Street
Lot features
Corner Lot
Directions
Fischer Blvd to Veeder Ave
Subdivision
Windsor Park
Standard status
Active
APN
08-01108-25-00022
Size
2,432 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6653
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Flooring type
Vinyl, Wood, Concrete
Building materials
Block
Listing Agency:
1-2-3 REALTORS
Listed By:
Robert G Bornstein
(732) 341-8840
Added: Jun 5
Changed: Aug 19
Last Checked: Sep 3 at 11:06PM
MLS# 22616831
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 mixed-use property contains 2,432 square feet within a 0.34-acre parcel. The building includes two renovated residential units and first-floor retail space occupied by a long-term tenant operating a bar tending school and boat detailing business. A separate 3,600-square-foot yard area is leased to a single vehicle-related tenant.
Constructed in 1970 with block construction, the property has received substantial improvements, including a new roof, vinyl siding, gutters, electrical service, windows, fencing, exterior lighting, and wireless security cameras. Interior features include vinyl, wood, and concrete flooring, forced-air heating, and window-unit cooling. Public water and public sewer serve the property, with parking available in a lot and off street.
Constructed in 1970 with block construction, the property has received substantial improvements, including a new roof, vinyl siding, gutters, electrical service, windows, fencing, exterior lighting, and wireless security cameras. Interior features include vinyl, wood, and concrete flooring, forced-air heating, and window-unit cooling. Public water and public sewer serve the property, with parking available in a lot and off street.
Key Highlights
- 2,432‑square‑foot mixed‑use building on a 0.34‑acre parcel
- Two renovated residential units included
- First‑floor retail space with a long‑term tenant
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
$40,702
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
3.70%
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%
$814,040
$814.0K
Cap Rate 7%
$581,457
$581.5K
Cap Rate 9%
$452,244
$452.2K
Market Conditions
NOI Build-Up for 2,432 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
$62.2K $25.56/SF
− Vacancy
−$4.0K −$1.65/SF
EGI
$58.1K $23.91/SF
− OpEx
−$17.4K −$7.17/SF
NOI
$40.7K $16.74/SF
Area
Ocean County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$814,040
Cap Rate 7%
$581,457
Cap Rate 9%
$452,244
Alternative Uses
Best Use
Multifamily LT 5
$581.5K
$508.8K – $678.4K
NOI $40,702 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$534.3K
$467.5K – $623.3K
NOI $37,399 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$635.0K
$555.7K – $740.9K
NOI $44,453 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
249
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes two renovated residential units, first-floor retail space, and leased vehicle-storage yard area.
Where is this mixed-use property located?
The property is located at 3103 Veeder Avenue Toms River, NJ.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 2,432‑square‑foot mixed‑use building on a 0.34‑acre parcel; Two renovated residential units included; First‑floor retail space with a long‑term tenant
