202 W Route 37 11,520 SF 100% Leased Office Building Toms River, NJ 08755 $3,800,000 ($329.86/SF) 4.78% Cap Rate
EXECUTIVE SUMMARY
Location, Location, Location. Close to Community Medical Center Hospital. 11,520 SF 2 story office building, great parking with 72 spaces, 6 separate office units with 3 separate office units per floor. Fully occupied, however unit 1, 1700 sq.ft. 1st floor available with 90 day notice. Great building for user / investor. The building has newer exterior, windows, gutters, roof, elevator, interior updated and most mechanicals. The property next door is available for purchase for expansion.Approx. .75 acres.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
11,520 SF
Building Class
B
Year Built
1980
Price
$3,800,000
Price Per SF
$329.86
Cap Rate
4.78%
NOI
$181,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,760 SF
Slab To Slab
10’
Building FAR
0.25
Lot Size
1.04 AC
Zoning
HB - Highway development
Parking
72 Spaces (4.49 Spaces per 1,000 SF Leased)
1 of 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,253,000 | |
| Land Assessment | $780,000 | Total Assessment | $3,033,000 |
