Freestanding Professional Office
For Sale
$599,888
43 Cedar Grove Road, Toms River, NJ 08753
Freestanding office building with private parking for up to eight vehicles, suited for professional or medical tenants.
Property Size1,125 SF
Price / SF$533.23
Days on Market60
Property Features for 43 Cedar Grove Road
General Information
Standard status
Active
Size
1,125 SF
Total Parking Spaces
8
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,885
Amenities
Central air
Corner Lot
Central Air Cooling
Off Street
Shingle Roof
Building Details
Year Built
1970
Listing Agency:
DEL VIRGINIA REALTORS
(848) 221-1180
Listed By:
GAETANA DEL VIRGINIA · License #0451829
Source:
Corcoran
Added: Jun 24
Changed: Aug 21
Last Checked: Aug 22 at 6:44AM
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 DEL VIRGINIA REALTORS
Investment Insights
Based on property information with market context.
Freestanding professional office building totaling 1,125 square feet, offered for sale. The property is designed for private, professional use and is described as a versatile option for professional offices, medical use, or boutique business operations. Private parking on site accommodates up to eight vehicles.
The building is located in Toms River with convenient access to Hooper Avenue and Route 37, described as just minutes from Downtown Toms River. Public remarks also note the property is approximately one block from Hooper Avenue and Route 37, supporting straightforward client and staff travel.
For tenants and owners seeking an owned workspace, this property offers a compact, purpose-fit footprint for either office or medical-oriented operations, with dedicated parking to support day-to-day visits. Its freestanding configuration can simplify branding and signage opportunities at the building level, while the location along key routes may help maintain convenient access for clients and staff.
The building is located in Toms River with convenient access to Hooper Avenue and Route 37, described as just minutes from Downtown Toms River. Public remarks also note the property is approximately one block from Hooper Avenue and Route 37, supporting straightforward client and staff travel.
For tenants and owners seeking an owned workspace, this property offers a compact, purpose-fit footprint for either office or medical-oriented operations, with dedicated parking to support day-to-day visits. Its freestanding configuration can simplify branding and signage opportunities at the building level, while the location along key routes may help maintain convenient access for clients and staff.
Key Highlights
- Freestanding 1,125 SF professional office building built in 1970
- Private parking for up to 8 vehicles
- One block from Hooper Avenue and Route 37 for convenient access
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
$17,213
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
2.87%
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%
$344,260
$344.3K
Cap Rate 7%
$245,900
$245.9K
Cap Rate 9%
$191,256
$191.3K
Market Conditions
NOI Build-Up for 1,125 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
$33.8K $30.00/SF
− Vacancy
−$10.8K −$9.60/SF
EGI
$23.0K $20.40/SF
− OpEx
−$5.7K −$5.10/SF
NOI
$17.2K $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%
$344,260
Cap Rate 7%
$245,900
Cap Rate 9%
$191,256
Alternative Uses
Best Use
Office B
$245.9K
$215.2K – $286.9K
NOI $17,213 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.8K
$257.0K – $342.7K
NOI $20,563 @ 7.0% cap · market cap 3.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
620
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 - Freestanding office building with private parking for up to eight vehicles, suited for professional or medical tenants.
Where is this office building located?
The property is located at 43 Cedar Grove Road Toms River, NJ.
What is the asking price?
The asking price for this property is $599,888.
What are key features of this property?
This property features: Freestanding 1,125 SF professional office building built in 1970; Private parking for up to 8 vehicles; One block from Hooper Avenue and Route 37 for convenient access
