Brick Office Building with Central
For Sale
$849,900
506 Hooper Avenue, Toms River, NJ 08753
COMMERCIAL - Toms River, NJ
Property Size4,125 SF
Lot Size0.25 Acres
Price / SF$206.04
Days on Market157
Property Features for 506 Hooper Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Residential, Professional
Rooms
Basement
Parking
13
Parking features
Off Street
Security features
Security System
Exterior features
Lighting
Basement
Partially Finished
Lot features
Level, Highway Frontage
Directions
Across the street from St Josephs Church on Hooper Ave
Subdivision
Village Of T.R.
Standard status
Active
APN
08-00654-01-00019
Size
4,125 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11294
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
3
Flooring type
Wood, Tile
Building materials
Brick
Listing Agency:
Better Homes and Gardens Real Estate Murphy & Co
(609) 693-4600
Listed By:
Joseph DeYonker
(609) 693-4600
Added: Mar 30
Changed: Aug 7
Last Checked: Sep 2 at 2:06AM
MLS# 22608505
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.
Furnished office space in a brick building with central air and forced-air heating. Interior finishes include tile and wood flooring, and the exterior includes lighting. The property also includes a basement and offers off-street parking for day-to-day operations.
Set on a 0.25-acre lot, the building contains 4,125 square feet and was built in 1960. Public water and public sewer are available. The address is 506 Hooper Avenue in Toms River, New Jersey, with convenient access to Route 37 and the Garden State Parkway and proximity to downtown and the courthouse.
With a well-appointed workspace setup, this office configuration may support a range of professional uses.
Set on a 0.25-acre lot, the building contains 4,125 square feet and was built in 1960. Public water and public sewer are available. The address is 506 Hooper Avenue in Toms River, New Jersey, with convenient access to Route 37 and the Garden State Parkway and proximity to downtown and the courthouse.
With a well-appointed workspace setup, this office configuration may support a range of professional uses.
Key Highlights
- Furnished office space in a brick building
- 4,125 square feet with a basement
- 0.25‑acre lot
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
$63,113
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
7.43%
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%
$1,262,260
$1.3M
Cap Rate 7%
$901,614
$901.6K
Cap Rate 9%
$701,256
$701.3K
Market Conditions
NOI Build-Up for 4,125 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
$123.8K $30.00/SF
− Vacancy
−$39.6K −$9.60/SF
EGI
$84.2K $20.40/SF
− OpEx
−$21.0K −$5.10/SF
NOI
$63.1K $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%
$1,262,260
Cap Rate 7%
$901,614
Cap Rate 9%
$701,256
Alternative Uses
Best Use
Office B
$901.6K
$788.9K – $1.05M
NOI $63,113 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$942.5K – $1.26M
NOI $75,398 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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 in a brick building with central air, tile and wood flooring, and off-street parking.
Where is this office units located?
The property is located at 506 Hooper Avenue 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 in a brick building; 4,125 square feet with a basement; 0.25‑acre lot
