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229 Route 37 E
Toms River, NJ 08753
Toms River Shopping Center · Retail Property For Sale

PROPERTY FACTS
ABOUT 229 ROUTE 37 E , TOMS RIVER, NJ 08753
Marcus & Millichap is pleased to exclusively list for sale Toms River Shopping Center a 52,616 square foot center, located on Route 37 (62,000 VPD) in Toms River, NJ (Ocean County). The center is currently 85% leased and priced on actual income. 63% of the center (West Marine & TR Fitness) has operated there since 1999. Both tenants recently exercised five year options. All tenants reimburse for taxes, insurance and common area maintenance. Priced on actual income at a 8.25% cap rate and $113 per square foot, the center presents an opportunity to create upside with the lease-up of the 8,000 square foot vacancy making the pro-forma cap rate 9.63%. The center is positioned on Route 37 eastbound sharing ingress/egress with an established Kmart. Toms River and the immediate area has projected population growth and an average household income of over $93,000 in a one mile radius. The asking price of $5,950,000 represents a 8.25% cap rate and $113 per square foot
PROPERTY TAXES
| Parcel Number | 08-00647-0000-00028-01 | Improvements Assessment | $5,659,000 |
| Land Assessment | $2,880,000 | Total Assessment | $8,539,000 |
PROPERTY TAXES
Listing ID: 9774532
Date on Market: 10/27/2017
Last Updated:
Address: 229 Route 37 E, Toms River, NJ 08753
The Downtown Toms River Retail Property at 229 Route 37 E, Toms River, NJ 08753 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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