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10 Allen St
Toms River, NJ 08753 Downtown Toms River

$2,650,000 USD

Office Condo For Sale  •  9,503 SF

Property Details

  • Property Type Office
  • Total Building Size 22,553 SF
  • Lot Size 1.13 AC
  • Building Class B
  • Year Built 1986
  • Cap Rate 6.22 %
  • Tenancy Multiple
  • Zoning VS
30 Transit Score
60 Walk Score

1 Unit Available

Name Condo Use Size Price Details
4th Floor - Unit 1AC,D,4A,B Office 9,503 SF $2,650,000 USD
  • Unit Size: 9,503 SF
  • Condo Use: Office
  • Price: $2,650,000 USD
  • Sale Type: Investment or Owner User
  • Price/SF: $278.86 USD
Description
5 Condo unit package (9,503 square feet) in a 4 Story elevator-served professional office building. The available units consist of the entire 4th floor,  ( 2 suites have river views)  and 3 suites on the first floor. 80% leased with Triple Net leases.  Suited for administrative offices, counseling/therapy suites, insurance, legal, financial, and executive users (general professional office, not clinical medical).  The space on these two floors is equal to 41% of building ownership.  There are 70 shared surface parking spaces.  Floor plan of the available units is attached to this listing.

Description 

4 Story, elevator-served professional office building, built in 1986.  Zoned Village Seaport.   Excellent downtown Toms River location, close to the County Court Complex, Toms River Municipal offices, and more.  All tenants in stable, service-oriented professional sectors on NNN leases.  There are 70 shared surface parking spaces.

UNITS INCLUDED IN PACKAGE:  We are listing unit 
1A-1528 sf;  1C-1500 sf;  1D-475 sf;  4A-3750 sf and  4B-2250sf
Unit 1C 1500 SF vacant.  The other units are all leased.

ACCESS & DIRECTIONS FROM GARDEN STATE PARKWAY
Easy Regional Access.  From Garden State Parkway Northbound/Southbound:
•  Take Exit 82 (Route 37 toward Seaside Heights / Toms River) or Exit 83 (Route 9 / Lakewood)
•  Follow signs to downtown Toms River via Route 37 or Route 9
•  Short drive (5–10 minutes) to Allen Street in the professional district

Highlights

•  NNN Lease Structure – Predictable, low-management income
• Institutional-Quality Tenants – National and regional leaders in home health services, mental health counseling, and insurance
• Value-Add Upside – Lease-up of ~1,500 SF vacant space adds ~$28,500/year
• Prime Downtown Location – Walking distance to Ocean County Courthouse; excellent Parkway access. 4th-floor suites offer views of the Toms River.
• Condo Ownership Flexibility – Easier financing, owner-user potential, resale options

Property Flyers

Cap Rate: 6.22 %

Major Tenants

Tenant SF Occupied Lease End Date
BAYADA Home Health Care
Coastal Solutions 9/14/2017
Food For Thought By The Sea Inc
Gilmore & Monahan Pa
Koerner Koerner Galati & Oriel Pa
Republican County Republican Headquarters Headquar
Robert P Lamb
The law offices of Jonathan F. Marshall
Thriveworks 11/30/2027
Toms River Student Loan Fund

Amenities

  • Signage
  • Central Heating
  • Direct Elevator Exposure
  • Drop Ceiling
  • Air Conditioning

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 70
Type: Surface
Included in Rent: Yes
Mark Kotzas 732-244-4900 Crossroads Realty Inc.
Mark Kotzas 732-244-4900 Crossroads Realty Inc.