Furnished Office Space
For Sale
$849,900
506 Hooper Ave, Toms River, NJ 08753
Furnished office space with ample parking in a prime location.
Property Size3,350 SF
Price / SF$253.70
Days on Market158
Property Features for 506 Hooper Ave
General Information
Standard status
Active
Size
3,350 SF
Total Parking Spaces
13
Zoning
VO
Taxes and HOA fees
Annual Taxes
$10,472
Amenities
Central Air
Forced Air, Natural Gas
Building Details
Building Size
3,350 SF
Year Built
1960
Listing Agency:
Better Homes and Gardens Real Estate Murphy & Co
Listed By:
Joseph DeYonker · License #7840095
(609) 693-4600
Source:
Evrealestate
Added: Mar 31
Changed: Aug 23
Last Checked: Sep 4 at 5:07AM
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 Better Homes and Gardens Real Estate Murphy & Co
Investment Insights
Based on property information with market context.
This furnished office space, with few exceptions, offers a functional layout. The property includes existing furniture. Ample parking is available. The location is across from a church. The property contains 4125 square feet.
Key Highlights
- Furnished office space with high‑quality furniture included.
- Ample parking available.
- Excellent location.
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
$51,255
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
6.03%
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%
$1,025,100
$1.0M
Cap Rate 7%
$732,214
$732.2K
Cap Rate 9%
$569,500
$569.5K
Market Conditions
NOI Build-Up for 3,350 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
$100.5K $30.00/SF
− Vacancy
−$32.2K −$9.60/SF
EGI
$68.3K $20.40/SF
− OpEx
−$17.1K −$5.10/SF
NOI
$51.3K $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%
$1,025,100
Cap Rate 7%
$732,214
Cap Rate 9%
$569,500
Alternative Uses
Best Use
Office B
$732.2K
$640.7K – $854.3K
NOI $51,255 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$874.8K
$765.4K – $1.02M
NOI $61,233 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,705
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 units - Furnished office space with ample parking in a prime location.
Where is this office units located?
The property is located at 506 Hooper Ave Toms River, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Furnished office space with high‑quality furniture included.; Ample parking available.; Excellent location.
