Landmark Commercial Building in
For Sale
$3,999,000
44 Washington St Unit 102, Toms River, NJ 08753
20,000 SF mixed-use building in the heart of Toms River.
Property Size20,000 SF
Price / SF$199.95
Days on Market143
Property Features for 44 Washington St Unit 102
General Information
Standard status
Active
Size
20,000 SF
Building Details
Year Built
1950
Listing Agency:
Keller Williams Shore Properties
Listed By:
Christopher McDowell · License #1435560
(732) 797-9001
Source:
Jelkonrealty
Added: May 27
Changed: Sep 14
Last Checked: Oct 7 at 3:24PM
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 Keller Williams Shore Properties
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Investment Insights
Based on property information with market context.
This landmark commercial building is positioned in the center of Downtown Toms River. The property offers approximately 20,000 square feet and features multiple diverse first-floor rental spaces suitable for retail, restaurant, professional, or mixed-use opportunities. The expansive second floor, complete with additional third-floor loft access, is suited for a corporate headquarters, technology hub, event venue, powerhouse law firm, or dynamic business office. Designed with modern, progressive architecture and an open-concept layout, the space delivers flexibility and presence. The property is located directly across from Toms River Town Hall, making it strategically situated for any use.
Key Highlights
- Prime location in the heart of Downtown Toms River's revitalization, directly across from Town Hall.
- Approximately 20,000 square feet of versatile space.
- Multiple first‑floor rental spaces suitable for retail, restaurant, professional, or mixed‑use businesses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$306,000
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,120,000
$6.1M
Cap Rate 7%
$4,371,429
$4.4M
Cap Rate 9%
$3,400,000
$3.4M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$600.0K $30.00/SF
− Vacancy
−$192.0K −$9.60/SF
EGI
$408.0K $20.40/SF
− OpEx
−$102.0K −$5.10/SF
NOI
$306.0K $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 Rate 5%
$6,120,000
Cap Rate 7%
$4,371,429
Cap Rate 9%
$3,400,000
Alternative Uses
Best Use
Office B
$4.37M
$3.83M – $5.10M
NOI $306,000 @ 7.0% cap · market cap 7.65%
Second Best
Retail
$4.08M
$3.57M – $4.76M
NOI $285,466 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,568 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,602
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - 20,000 SF mixed-use building in the heart of Toms River.
Where is this retail space located?
The property is located at 44 Washington St Unit 102 Toms River, NJ.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: Prime location in the heart of Downtown Toms River's revitalization, directly across from Town Hall.; Approximately 20,000 square feet of versatile space.; Multiple first‑floor rental spaces suitable for retail, restaurant, professional, or mixed‑use businesses.
