277 Nj-70 Toms River, NJ 08755
- Lifestyle centers
- 20,460 SF
- 3.01 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 277 Nj-70
- Year built
- 2014
- Lot size
- 3.01 lot acres
- Property size
- 20,460 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional mixed-use investment opportunity presents a 20,460 square foot, two-story building situated on 3.01 acres in Toms River, New Jersey. Boasting a 7.25% cap rate and a strong net operating income (NOI) of $585,493, this property offers significant financial returns. Currently 98% occupied with 17 units, the building features a diverse tenant mix, ensuring consistent cash flow. Built in 2014 and renovated in 2023, the property is zoned HB and enjoys high visibility on Route 70, a major thoroughfare with over 23,000 vehicles daily. Its strategic location provides easy access to Routes 9, 37, and the Garden State Parkway, enhancing connectivity and attracting a wide range of businesses. The property benefits from its proximity to numerous national retailers, including Aldi, Starbucks, Stop & Shop, and Wawa, further solidifying its desirability. Strong demographics, with over 183,000 people within a 5-mile radius and an average household income exceeding $106,000 within a 1-mile radius, support continued growth and profitability. An adjacent, fully approved development site for a 23,000 square foot office building presents an additional investment opportunity. This property offers dual access points from Route 70 and Crescent Court, providing convenient ingress and egress. The asking price is $8,076,000, representing a price per square foot of $394.72.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Toms River
- County
- Ocean
- State
- New Jersey
- Longitude
- -74.2466
- Latitude
- 40.0363
