98% Leased Office Professional Building in New Jersey

26-30 North Main Street, Toms River, NJ

$1,700,000

Price

8.3%

Cap Rate

$143,000

NOI

Overview
Cap Rate
8.3%
NOI
$143,000
Building Size
28,000 sqft
Lot Area
32,409 sqft
Occupancy
98%
Class
C
Lease Type
Full Service
Average Room Size
450 sqft
Year Built
1956
Price Per Sqft
$60
Tenancy
Multiple
Floors
2
Investment Strategy
Core
Description

Zetabid is pleased to present this exclusive sealed bid sale of the Berger Building located in the heart of Toms River New Jersey. The property is approximately 28,000 square feet situated on a 32,409 square foot lot with 20 surface level parking spaces.

Located in the heart of downtown Toms River, NJ, this multi-tenant professional office building is one block from Ocean County Courthouse and Toms River Municipal Complex near major commercial banks, Garden State Parkway Exit 81, free municipal parking and numerous restaurants.

The building is build out with over 40 professional executive offices and storefront commercial space. It is one of the only professional buildings in the market serving the needs of smaller office and commercial tenants for decades and sits at 98% occupancy with stable income levels. NOI for 2017 is on track to reach $142,000 (2016 was $145,000).

Highlights
  • 98% Leased
  • Prime downtown Toms River NJ Location
  • 8%+ Cap Rate
  • Stable occupancy for years
  • Little competition for executive offices in market
Documents

Location
Gallery