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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7 Hyers St Toms River, NJ 08753-7427

    • Commercial real estate
    • 1,250 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    Jul 14, 2023
    $300,000
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    4.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-1262707
    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

    • Ocean Counseling and Wellness, LLC / Counselor
    • Christina Skyers, LLC / Counselor / Mental Health Service
    • The King's Essentials / Massage Therapist / Facial Spa
    • Caroline's Downtown Essentials is now Whole Beauty Bar / Skin Care Clinic / Wellness Program

    Property Details for 7 Hyers St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.02 lot acres
    Property size
    1,250 SF
    Zone code
    VB
    Property type
    Commercial real estate
    APN
    08 00660-0000-00006
    APU
    800660000000006

    Description

    This exceptional 1,250 square foot, two-story office building is ideally situated in the heart of Toms River's vibrant downtown business district, at the intersection of Washington and Main Streets. The entire space is currently vacant and available for lease to a single tenant, offering a unique opportunity to establish a prominent presence in this thriving area. The building features a convenient walk-in reception area, multiple private offices, and a restroom. Its Village Business (VB) zoning of Toms River allows for a wide range of uses, making it suitable for various professional services, retail businesses, or other compatible enterprises. Considered uses include, but are not limited to, legal practices, title companies, real estate agencies, barbershops, pet shops, hair salons, massage therapy businesses, or flower shops. The property's strategic location offers unparalleled convenience, being just one block from Town Hall and two blocks from the County Courts and administrative buildings, ensuring high visibility and accessibility. A multi-year lease is preferred. This is a rare opportunity to secure a prime commercial space in a high-traffic area with diverse possibilities. Don't miss out on this chance to establish your business in a thriving downtown location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $305,000
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $240,000
      6.5%
      $220,000
      7%
      $205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $204,000
      Market price range: $204k - $481k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $320,000
      Current use
      OFFICE BUILDING
      $295,000
      Change: -7% 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
    -74.1977
    Latitude
    39.9536
    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
    $2,921
    $100,000
    $75,000
    $175,000
    -
    $100,000
    $75,000
    $175,000

    Comparable in this City

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      $360,000
      70.33 Acres

      Ocean County Mall

      COMMERCIAL (GENERAL) • 70.33 Acres
      Ocean County Mall, Toms River, NJ 08753
      View Details
    • Value Estimation
      $365,000
      0.79 Acres

      1886 Hinds Rd

      COMMERCIAL (GENERAL) • 0.79 Acres
      1886 Hinds Rd, Toms River, NJ 08753-8199
      View Details
    • Value Estimation
      $650,000
      4,508 SF

      3430 Rte 37th E

      COMMERCIAL (GENERAL) • 4,508 SF
      3430 Rte 37th E, Toms River, NJ 08753-6257
      View Details
    • Value Estimation
      $555,000
      14,401 SF

      13 Washington St

      COMMERCIAL (GENERAL) • 14,401 SF
      13 Washington St, Toms River, NJ 08753-7630
      View Details
    • Value Estimation
      $445,000
      6,316 SF

      119 Washington St

      COMMERCIAL (GENERAL) • 6,316 SF
      119 Washington St, Toms River, NJ 08753-7636
      View Details
    • Value Estimation
      $440,000
      2,528 SF

      7 Water St

      COMMERCIAL (GENERAL) • 2,528 SF
      7 Water St, Toms River, NJ 08753-7470
      View Details

    Similar Nearby for Sale

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    • $1,495,000
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      Toms River Retail Opportunity

      Retail property with drive-thru and high traffic visibility.
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      Residential Land in Toms River

      Land available to build your dream home near Jersey Shore.
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    Similar Nearby for Lease

    • $6 SF/Yr
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      Toms River Office Space Available

      Flexible workspace solutions in NJ.
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      View Details
    • Contact for pricing
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      Fischer Plaza Retail Space For Lease

      Toms River, NJ: Prime Retail Opportunity
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      View Details
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      Retail Space in Toms River

      Shopping center with spaces available for lease in Toms River.
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      2,146 SF

      Retail Space in Neighborhood Center

      Available retail space in a strong neighborhood shopping center.
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      Retail Space on Route 37

      Retail space available in Toms River Mall on Route 37.
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      Retail Space in Toms River

      Retail space in the heart of Toms River trade area.
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      View Details
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    7 Hyers St
    Toms River, NJ 08753-7427
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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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