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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
