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    Property profile & analytics

    1 Plaza Dr, Unit 17-19 Toms River, NJ 08757

    • Commercial real estate
    • 38,548 SF
    • 6.16 lot acres
    For Lease
    View listing
    Last Sale
    Dec 30, 2022
    $8,760,166
    Value Estimations
    $8,940,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2163655
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden State Eye Ambulatory Center / Medical Clinic / Hospital
    • Moshe M. Rothkopf, M.D. / Ophthalmologist
    • Holiday City Realty / Real Estate Agency
    • Physicians' SurgiCenter / Medical Clinic / Hospital
    • Riccio’s Gourmet Deli & Italian Specialties / Food Market / Restaurant

    Property Details for 1 Plaza Dr

    Year built
    1984
    Lot size
    6.16 lot acres
    Property size
    38,548 SF
    Zone code
    PRRC
    Property type
    Commercial real estate
    APN
    06 00004- 306-00001
    APU
    60000430600001

    Description

    Holiday City Plaza II, a single-story retail complex in Toms River, NJ (08757), offers 38,548 square feet of space across 12 suites. Located at 1 Plaza Dr, near Mule Road, this property boasts high visibility in a bustling commercial corridor within the Holiday City Berkeley submarket. Currently, three suites are available for lease, ranging from 1,287 to 14,389 square feet. The largest suite (14,389 sq ft), a former dialysis center, is divisible to accommodate various business needs. The property features ample parking with 170+ spaces. Built in 1984, the building is zoned PRRC (Planned Residential Retirement Community) and sits within a large adult community of over 14,000 homes, ensuring a substantial customer base. Leases are NNN, with tenants responsible for their utilities and CAM charges, currently set at $7.00 per square foot. Additionally, approximately 10,000 square feet of space is available for purchase as condominium units, priced at $250.00 per square foot. The Ocean County property (APN: 06-00004-306-00001) presents a unique opportunity for businesses seeking established presence in a thriving community. Detailed floor plans for each available suite are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,420,000
      ML approach
      $9,290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,420,000
      6.5%
      $6,850,000
      7%
      $6,360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,475,000
      Market price range: $6.60M - $17.7M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $11,165,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $10,930,000
      Change: -2% Conversion: Moderate
      OFFICE BUILDING
      $9,165,000
      Change: -18% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Toms River
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.2433
    Latitude
    39.9686
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $73,957
    $1,742,000
    $1,506,000
    $3,248,000
    -
    $1,742,000
    $1,506,000
    $3,248,000

    Comparable in this City

    • Value Estimation by Request

      221 Atlantic City Blvd

      COMMERCIAL (GENERAL)
      221 Atlantic City Blvd, Toms River, NJ 08757-5130
      View Details
    • Value Estimation by Request
      144 SF

      1730 Ridgeway Rd

      COMMERCIAL (GENERAL) • 144 SF
      1730 Ridgeway Rd, Toms River, NJ 08757
      View Details
    • Value Estimation by Request

      1700 Rte 37th W

      COMMERCIAL (GENERAL)
      1700 Rte 37th W, Manchester, NJ 08757-2347
      View Details
    • Value Estimation
      $780,000
      5,720 SF

      1781 Rte 37th W

      COMMERCIAL (GENERAL) • 5,720 SF
      1781 Rte 37th W, Manchester, NJ 08757
      View Details
    • Value Estimation
      $1,575,000
      2,400 SF

      2001 Ridgeway Rd

      COMMERCIAL (GENERAL) • 2,400 SF
      2001 Ridgeway Rd, Toms River, NJ 08757-2498
      View Details
    • Value Estimation by Request
      0.48 Acres

      431 Dover Rd

      COMMERCIAL (GENERAL) • 0.48 Acres
      431 Dover Rd, Toms River, NJ 08757-5250
      View Details

    Similar Nearby for Sale

    • $225,000

      Land Ready to Build

      50 x 100 property with utilities at street.
      716 Commonwealth Blvd, Toms River, NJ 08757
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    • $317,000

      Holiday City 55+ Community Home

      Well-maintained home in a vibrant 55+ community near amenities.
      125 Liberta Dr, Toms River, NJ 08757
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    • New
      $274,000

      Toms River Single Family Home

      Single-story, 2-bedroom home in Toms River's adult community.
      1074 Edgebrook Dr, Toms River, NJ 08757
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    • $259,000
      Pending

      Approved Buildable Lot in Toms River

      Approved lot for a large cape in Pine Lake Park.
      732 Ninth Ave, Toms River, NJ 08757
      View Details
    • New
      $50,000
      Pending

      Waterside Lot in Pine Lake

      Land for sale in Pine Lake Park section of Manchester.
      1425 Englemere Blvd, Toms River, NJ 08757
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    • $339,999

      Updated Home in 55+ Community

      Move-in ready home in a desirable 55+ community.
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    Similar Nearby for Lease

    • Contact for pricing
      466,092 SF

      Office Space in Toms River

      Office space with ready-made clients in Toms River, NJ.
      631 Jamaica Blvd, Toms River, NJ 08757
      View Details
    • Contact for pricing
      49,504 SF

      Toms River Mixed-Use Retail

      Enclosed mixed-use retail/office building in a 55+ community.
      730 Jamaica Blvd, Toms River, NJ 08757
      View Details
    • Contact for pricing
      43,223 SF

      Toms River Mixed-Use Complex

      Multi-tenant office/retail complex in the heart of a large community.
      600 Mule Rd, Toms River, NJ 08757
      View Details
    • $21,000
      3,400 SF

      Toms River Retail Space Available

      Three suites, 3400 sq ft total, high traffic location.
      316 Atlantic City Blvd, Toms River, NJ 08757
      View Details
    • $16 SF/Yr
      38,548 SF

      Holiday City Plaza II Retail Space

      Toms River retail center, multiple suites available.
      1 Plaza Dr, Toms River, NJ 08757
      View Details
    • Contact for pricing

      Holiday City Medical Center Office

      Medical/office space in Holiday City, age-restricted community.
      3 Plz Dr Unit, Toms River, NJ 08757
      View Details
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    1 Plaza Dr, Unit 17-19
    Toms River, NJ 08757
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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
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