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    West Belmar Mixed-Use Investment Opportunity Title is generated by Realmo AI

    2611 Belmar Boulevard, West Belmar, NJ 07719

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    Claim this Listing
    Pending
    $999,999

    COMMERCIAL - West Belmar, NJ

    Property size:
    3,464 SF
    Lot size:
    0.24 Acres
    Added:
    Feb 13, 2026
    Days on Market:
    103
    Last Refresh:
    May 27 at 12:06 pm

    Property Features for 2611 Belmar Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    10
    Parking features
    Parking Lot, Assigned, Guest, RV, Open
    Security features
    Security System
    Exterior features
    Display Window, Lighting, Outdoor Shower
    Fencing
    Fenced
    Fireplace
    1
    Basement
    Crawl Space
    Standard status
    Pending
    APN
    52-00266-0000-00003
    Size
    3,464 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    9213

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Forced Air
    Cooling system
    Window Unit(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1969
    Floors in Building
    2
    Building materials
    Cedar Shake, Brick Veneer, Stucco
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Richard Covey

    Listing agent Richard Covey

    Listing office Keller Williams Avon Realty 310 E Main Street, Shrewsbury, NJ

    Listing date Feb 13, 2026

    MLS# 22603957

    Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent investment opportunity with over 3400 sq ft on a 10,400 sq ft lot offering strong ROI potential.
    • Prime location in Wall Township's Glendola section, close to major routes.
    • Two income streams: tenant‑occupied commercial space and a vacant 3bd, 2bth apartment with $4,000/month rental potential.
    • Fully renovated in 2013, both inside and outside.
    • Upstairs apartment features parking for 2 vehicles, a private yard, and a shared deck.
    • Downstairs commercial space has ample parking and storage.

    Overview

    This mixed-use property in the Glendola Section of Wall Township offers an investment opportunity with a potential for return on investment. The property, renovated in 2013, includes over 3400 square feet of space on a 10,400 square foot lot. The upstairs features a 3-bedroom, 2-bathroom apartment with parking for 2 vehicles, a private yard, and a shared deck. The apartment is currently vacant and has a rental potential of $4,000 per month, offering the option for owner occupancy. The downstairs commercial space is tenant-occupied by a generator business that has been operating for over 12 years, with a current rent of $3,200 per month and an option to renew in September 2027 for $4,000 per month. The commercial space includes parking and storage. The property is located close to Routes 138, 18, Route 35, and the Garden State Parkway.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $591.9K
    NOI $53,269 @ 9.00% cap · cautious / downside scenario
    Moderate
    $761.0K
    NOI $53,269 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.07M
    NOI $53,269 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $103.9k $30.00
    − Vacancy −$7.1k −$2.04
    EGI $96.9k $27.96
    − OpEx −$43.6k −$12.58
    NOI $53.3k $15.38
    3,464 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $761.0K
    $665.9K – $887.8K (±1% cap)
    NOI $53,269 @ 7.0% cap · market cap 5.33%
    Second Best
    Retail
    $706.3K
    $618.0K – $824.1K (±1% cap)
    NOI $49,443 @ 7.0% cap · market cap 4.94%
    Theoretical Best
    Office A
    $904.5K
    $791.5K – $1.06M (±1% cap)
    NOI $63,316 @ 7.0% cap · market cap 6.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Aggressive Power Systems Electrical Service

    Suggested Use

    Law Firm Dental Office Auto Repair Shop Accounting Firm Kitchen & Bath Showroom Daycare Center HVAC Service Electrical Service Garden Center Travel Agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Belmar
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.065554
    Latitude
    40.178021

    FAQs

    What type of property is this?
    Mixed-use property - Renovated mixed-use property with residential and commercial income potential.
    Where is this mixed-use property located?
    The property is located at 2611 Belmar Boulevard West Belmar, NJ.
    What is the asking price?
    The asking price for this property is $999,999.
    What are key features of this property?
    This property features: Excellent investment opportunity with over 3400 sq ft on a 10,400 sq ft lot offering strong ROI potential.; Prime location in Wall Township's Glendola section, close to major routes.; Two income streams: tenant‑occupied commercial space and a vacant 3bd, 2bth apartment with $4,000/month rental potential.
    (732) 988-8900
    We can help!
    Listing Contact
    Richard Covey
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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