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165-171 Route 37 E 14,500 SF 97% Leased Retail Building Toms River, NJ 08753 $4,300,000 ($296.55/SF) 7.30% Cap Rate
Investment Highlights
- PRIME LOCATION – Situated on the high-traffic Route 37, offering excellent visibility and access. High daily commuter traffic from nearby residential
- VARIETY OF RETAIL SPACES – Flexible suite sizes, suitable for a range of businesses, from retail to service-oriented tenants.
- LOCAL AREA – Located in the heart of Toms River, a densely populated area with a strong mix of residential, commercial, and retail developments.
- areas and businesses.
- Configurations available for small, medium, and large storefronts.
- Close proximity to schools, residential neighborhoods, and entertainment venues.
Executive Summary
100% occupied strip center located in Toms River, New Jersey, where Route 37 and Hooper Ave connect. The Strip Center is 14,500 square feet, with an estimated 61,000 vehicles per day on Route 37 and 25,000 vehicles per day on Hooper Ave., offering strong exposure. Conveniently close to Seaside Heights (a seasonally busy coastal destination), and accessible via Route 9, Route 35, Route 70, and the Garden State Parkway.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,500 SF
Building Class
B
Year Built
1965
Price
$4,300,000
Price Per SF
$296.55
Cap Rate
7.30%
NOI
$313,768
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.43
Lot Size
0.77 AC
Zoning
HB - Highway Business
Parking
42 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Signalized Intersection
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-01092-0000-00010 | Improvements Assessment | $900,000 |
| Land Assessment | $875,000 | Total Assessment | $1,775,000 |
Property Taxes
Parcel Number
08-01092-0000-00010
Land Assessment
$875,000
Improvements Assessment
$900,000
Total Assessment
$1,775,000
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165-171 Route 37 E
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