Renovated Mixed-Use
For Sale
$999,999
Pending
2611 Belmar Boulevard, West Belmar, NJ 07719
Commercial Sale, West Belmar, NJ
Property Size3,464 SF
Lot Size0.24 Acres
Days on Market197
Property Features for 2611 Belmar Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Neighborhood, Mixed
Parking
10
Parking features
RV, Guest, Assigned, Parking Lot, Open
Security features
Security System
Exterior features
Display Window, Lighting, Outdoor Shower
Fencing
Fenced
Fireplace
1
Basement
Crawl Space
Lot features
Corner Lot
Directions
Rt. 35 to Belmar Blvd or Rt. 138 to New Bedford Rd(N) to left on Belmar. Corner of Clevland
Subdivision
Glendola
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
Forced Air, Baseboard
Cooling system
Central Air, Window Unit(s)
Water source
Public
Amenities
private yard
shared deck
Building Details
Year built
1969
Floors in Building
2
Building materials
Cedar Shake, Brick Veneer, Stucco
Roof type
Asphalt
Listing Agency:
Keller Williams Avon Realty · Keller Williams Realty
(732) 988-8900
Listed By:
Richard Covey
(732) 988-8900
Added: Feb 13
Changed: Aug 19
Last Checked: Aug 29 at 10:06PM
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.
Investment Insights
Based on property information with market context.
Located at 2611 Belmar Boulevard in West Belmar, this mixed-use property contains 3464 square feet on a 0.24-acre lot. The building was renovated inside and out in 2013 and includes cedar shake, brick veneer, and stucco construction, along with display windows, lighting, public water, and public sewer.
The upper level features a 3bd, 2bth apartment with parking for 2 vehicles, a private yard, and access to a shared deck. That space is currently vacant. The lower commercial area is occupied by a generator business that has operated there for over 12 years and includes parking and storage. Additional property features include central air, forced-air and baseboard heating, open parking, fencing, and an asphalt roof.
The property is near Routes 138, 18, Route 35, and the GSP, providing access to multiple regional roadways.
The upper level features a 3bd, 2bth apartment with parking for 2 vehicles, a private yard, and access to a shared deck. That space is currently vacant. The lower commercial area is occupied by a generator business that has operated there for over 12 years and includes parking and storage. Additional property features include central air, forced-air and baseboard heating, open parking, fencing, and an asphalt roof.
The property is near Routes 138, 18, Route 35, and the GSP, providing access to multiple regional roadways.
Key Highlights
- 3464 square feet on a 0.24‑acre lot
- Interior and exterior renovation completed in 2013
- 3bd, 2bth upstairs apartment with parking for 2 vehicles and a private yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,269
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,065,380
$1.1M
Cap Rate 7%
$760,986
$761.0K
Cap Rate 9%
$591,878
$591.9K
Market Conditions
NOI Build-Up for 3,464 SF
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.
Gross rent
$103.9K $30.00/SF
− Vacancy
−$7.1K −$2.04/SF
EGI
$96.9K $27.96/SF
− OpEx
−$43.6K −$12.58/SF
NOI
$53.3K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,065,380
Cap Rate 7%
$760,986
Cap Rate 9%
$591,878
Alternative Uses
Best Use
Apartment 5plus
$761.0K
$665.9K – $887.8K
NOI $53,269 @ 7.0% cap · market cap 5.33%
Second Best
Mixed Use
$668.1K
$584.6K – $779.4K
NOI $46,764 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$904.5K
$791.5K – $1.06M
NOI $63,316 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 07719, NJ
21,665
Population
10,753
Households
2
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
12.7 sq mi
ZIP Area
1,706
Density / Sq Mi
$119,877
Median Household Income
$58,854
Median Earnings
$1,754
Median Rent
$628,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property pairs an upstairs apartment with an occupied commercial area, parking, storage, and outdoor space.
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: 3464 square feet on a 0.24‑acre lot; Interior and exterior renovation completed in 2013; 3bd, 2bth upstairs apartment with parking for 2 vehicles and a private yard
