Flex Property with Detached
For Sale
$1,190,000
Pending
Toms River, NJ 08755, Toms River, NJ 08755
COMMERCIAL - Toms River, NJ
Property Size2,619 SF
Lot Size0.89 Acres
Days on Market97
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Variance In, Retail, Residential, Professional, Non-Conforming, Neighborhood, Live-in Professional, Industrial, Conforming Use, Commercial
Rooms
Basement
Parking features
Parking Lot, Paved or Surfaced
Basement
Full
Directions
Waze
Subdivision
North Dover
Standard status
Pending
Size
2,619 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9155
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Flooring type
Vinyl
Listing Agency:
Real Broker, LLC- Toms River
(732) 341-2227
Listed By:
Isaac Nussbaum · License #1647137
(732) 341-2227
Added: May 26
Changed: Aug 7
Last Checked: Aug 30 at 6:06PM
MLS# 22615542
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.
This flex-style commercial property includes an approximately 2,500 SF building with 10 office/bedrooms, 4 bathrooms, and a basement. Also on site is a detached 1,500 SF garage/shop building, offering additional shop and storage space for on-site operations.
The property sits on a corner on Route 9 and borders township-preserved land. The site is listed at 0.89 acres and is zoned LI, supporting industrial-oriented commercial use.
Overall, the layout combines offices and sanitary facilities within the main building alongside a separate detached shop structure designed to support hands-on business needs.
The property sits on a corner on Route 9 and borders township-preserved land. The site is listed at 0.89 acres and is zoned LI, supporting industrial-oriented commercial use.
Overall, the layout combines offices and sanitary facilities within the main building alongside a separate detached shop structure designed to support hands-on business needs.
Key Highlights
- Commercial property on a prime corner on Route 9 with zoning LI
- Approx. 2,500 SF building with 10‑office/bedroom, 4‑bath layout and basement
- 1,500 SF detached garage/shop for additional workspace and storage
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
$34,767
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
2.92%
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%
$695,340
$695.3K
Cap Rate 7%
$496,671
$496.7K
Cap Rate 9%
$386,300
$386.3K
Market Conditions
NOI Build-Up for 2,619 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
$57.5K $21.96/SF
− Vacancy
−$4.0K −$1.54/SF
EGI
$53.5K $20.42/SF
− OpEx
−$18.7K −$7.15/SF
NOI
$34.8K $13.27/SF
Area
Ocean County, NJ
Vacancy
7.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
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%
$695,340
Cap Rate 7%
$496,671
Cap Rate 9%
$386,300
Alternative Uses
Best Use
Flex RnD
$496.7K
$434.6K – $579.5K
NOI $34,767 @ 7.0% cap · market cap 2.92%
Second Best
Industrial
$419.9K
$367.5K – $489.9K
NOI $29,396 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$683.9K
$598.4K – $797.9K
NOI $47,871 @ 7.0% cap · market cap 4.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08755, NJ
28,643
Population
11,318
Households
2.5
Avg Household Size
44
Median Age
33%
College-Educated
92%
High-School Grad
16.0 sq mi
ZIP Area
1,790
Density / Sq Mi
$81,077
Median Household Income
$54,183
Median Earnings
$1,484
Median Rent
$379,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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- Palace Hall — 1594 Lakewood Rd, Toms River, NJ 08755
Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial property with an office building and detached 1,500 SF garage/shop for yard, shop, and storage uses.
Where is this flex space located?
The property is located at Toms River, NJ.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Commercial property on a prime corner on Route 9 with zoning LI; Approx. 2,500 SF building with 10‑office/bedroom, 4‑bath layout and basement; 1,500 SF detached garage/shop for additional workspace and storage
