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    Cor Of Rte 37 & Bimini Dr Toms River, NJ 08755

    Sponsored
    For Lease
    Contact for pricing

    Prime Toms River Retail Opportunity

    Lot size:
    1 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    426
    This exceptional commercial property, located at the highly visible corner of Route 37 and Bimini Drive in Toms River, New Jersey, presents a unique investment opportunity. The 5.1 to 5.9-acre lot is zoned RHB-AH37 within Ocean County and offers significant potential for retail development. Currently, one retail space is available, making it ideal for a single tenant or multiple tenants. The property's strategic location at a major intersection ensures high traffic visibility and accessibility, making it an attractive location for businesses seeking strong exposure. The property type is classified as both retail and land, allowing for flexibility in development plans. Whether you envision developing build-to-suit options or utilizing the existing space, this property offers substantial potential for growth and return on investment. The property's size and zoning provide ample opportunity for a variety of commercial uses. Its location in the thriving Toms River market, with its zip code 08755, ensures a strong customer base. This is a rare chance to acquire a prominent commercial property in a prime location with excellent visibility and growth potential. Serious inquiries are encouraged to explore the possibilities of this exceptional offering. The total building square footage is currently listed as 1 square foot, indicating potential for new construction.

    Property Features for 0 Cor Of Rte 37 & Bimini Dr

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1 SF

    Spaces For Lease

    at 0 Cor Of Rte 37 & Bimini Dr, Toms River, NJ 08755 Contact us

    We can help!

    Listing Contact
    Steven Winters
    Steven Winters

    Learn more

    HighLights

    • 150‑unit mixed‑use development with commercial pads, including a proposed auto dealership.
    • Retail/commercial pad sites available or build‑to‑suit options.
    • 5.9‑acre site with convenient access from Route 37 and Bimini Drive.
    • High‑visibility location at a signalized intersection on Route 37.
    • Excellent access to over 16,000 homes in Holiday City via Bimini Drive.
    • RHB‑AH37 zoning allows diverse commercial uses including retail, restaurants, auto sales, and more.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Toms River
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.2585551
    Latitude
    39.9852186

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    FAQs

    What type of property is this?
    Land - Prime Toms River Retail Opportunity
    Where is this land located?
    The property is located at Cor Of Rte 37 & Bimini Dr Toms River, NJ.
    What are key features of this property?
    This property features: 150-unit mixed-use development with commercial pads, including a proposed auto dealership.; Retail/commercial pad sites available or build-to-suit options.; 5.9-acre site with convenient access from Route 37 and Bimini Drive.
    Request Owner's contact information
    Cor Of Rte 37 & Bimini Dr Toms River, NJ 08755
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    Toms River, NJ 08755
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Cor Of Rte 37 & Bimini Dr Toms River, NJ 08755
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    We can help!
    Listing Contact
    Steven Winters
    Steven Winters
    Real Estate License ID: 88407134
    Learn more
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