Professional Office Condo with
40 Bey Lea Road #306, Toms River, NJ 08753
Well-maintained office condo with flexible layout and basement storage.
Type:Commercial
Property size:
2,806 SFPrice / SF:
$219/SF- Added:
- Feb 22, 2025
- Days on Market:
- 462
- Last Refresh:
- May 27 at 7:28 am
Property Features for 40 Bey Lea Road #306
General Information
- Standard status
- Active
- Size
- 2,806 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2003
Listing agent TIMOTHY J GILLEN License #8535813
Listing office GILLEN REALTY INC. (732) 240-9600
Listing date Feb 22, 2025
Source Corcoran
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 GILLEN REALTY INC.
HighLights
- Move‑in ready office condo, configured as an upscale doctor's office with multiple exam rooms, offices, and reception areas.
- Versatile floor plan easily adaptable for medical or general office use.
- Includes a large 800 sq. ft. basement storage area with both stair and elevator access. Township approvals for expanded use.
- Building features full elevator access and common handicap bathrooms on each floor.
- Option to lease at $18 per square foot (triple net) or purchase, including basement storage, for $616,000.
- Immediate occupancy available.
Overview
This office condo is situated within a professionally managed complex and features a universal floor plan. Currently configured as an upscale doctor's office, the space includes three exam rooms with sinks, an office, a conference room, a large kitchen/break room, a large waiting room, a large reception room, and a large fusion room. It also contains two handicap-accessible bathrooms, ample closet space, and an 800-square-foot basement storage area accessible via stairs and an elevator. The layout is adaptable, allowing for conversion of rooms into additional exam rooms or offices. The building provides two common handicap bathrooms on each floor, full elevator access, and an open foyer entrance on both the first and second floors. The basement area is currently used for storage, but has township approvals for expanded use. Immediate occupancy is available.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.2k | $30.00 |
| − Vacancy | −$26.9k | −$9.60 |
| EGI | $57.2k | $20.40 |
| − OpEx | −$14.3k | −$5.10 |
| NOI | $42.9k | $15.30 |
2,806 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$613.3K
$536.7K – $715.5K
NOI $42,932 @ 7.0% cap · market cap 6.97%
Second Best
Healthcare Medical
$596.9K
$522.3K – $696.3K
NOI $41,780 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$732.7K
$641.1K – $854.8K
NOI $51,289 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Karen Flynn, Realtor ...
Real Estate Agency
Meadowbrook Financial Mortgage ...
Loan Service
James Fennessy, Esq.
Law Firm
Russo John F
Law Firm
Neurological Associates
Medical Clinic
Location Insight
- Map
- Local Demand
- City
- Toms River
- County
- Ocean
- State
- New Jersey
- Longitude
- -74.2004127
- Latitude
- 39.9906302
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Well-maintained office condo with flexible layout and basement storage.
Where is this medical office space located?
The property is located at 40 Bey Lea Road #306 Toms River, NJ.
What is the asking price?
The asking price for this property is $616,000.
What are key features of this property?
This property features: Move‑in ready office condo, configured as an upscale doctor's office with multiple exam rooms, offices, and reception areas.; Versatile floor plan easily adaptable for medical or general office use.; Includes a large 800 sq. ft. basement storage area with both stair and elevator access. Township approvals for expanded use.
