Building Details

Year built 1948

Floors in Building 2

Listing Agency: C21 Thomson & Co.

Listed By: Donald P Glenn · License #2326222 Show Phone

Added: Apr 17 Changed: Oct 8 Last Checked: Oct 16 at 10:06PM

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MLS# 22610760

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Investment Insights

Based on property information with market context.

This mixed-use property contains 2838 square feet across three units, with commercial space at ground level and two residential apartments on the floors above. The building was constructed in 1948 and combines retail-oriented space with residential occupancy in one asset.

Located in Belford, Monmouth County, New Jersey, the property is served by public water and public sewer. Its configuration supports both commercial and residential use within the same building.

Key Highlights

• Three‑unit mixed‑use property with one commercial space and two residential apartments
• 2838 square feet of building area
• Ground‑floor commercial component with residential units above

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,643

Cap Rate

6.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$872,860 $872.9K

Cap Rate 7%

$623,471 $623.5K

Cap Rate 9%

$484,922 $484.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,838 SF

Gross rent

$85.1K $30.00/SF

− Vacancy

−$5.8K −$2.04/SF

EGI

$79.4K $27.96/SF

− OpEx

−$35.7K −$12.58/SF

NOI

$43.6K $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 Rate 5%

$872,860

Cap Rate 7%

$623,471

Cap Rate 9%

$484,922

Alternative Uses

Best Use

Apartment 5plus

$623.5K

$545.5K – $727.4K (±1% cap)

NOI $43,643 @ 7.0% cap · market cap 6.47%

Second Best

Retail

$578.7K

$506.4K – $675.1K (±1% cap)

NOI $40,508 @ 7.0% cap · market cap 6.00%

Theoretical Best

Office A

$741.1K

$648.4K – $864.6K (±1% cap)

NOI $51,874 @ 7.0% cap · market cap 7.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

273

Businesses Nearby

Explore this area Business Placement

Demographics for 07718, NJ

6,210

Population

2,603

Households

2.4

Avg Household Size

41

Median Age

41%

College-Educated

95%

High-School Grad

2.1 sq mi

ZIP Area

2,957

Density / Sq Mi

$139,313

Median Household Income

$72,969

Median Earnings

$1,847

Median Rent

$490,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Ground-floor commercial space is paired with two residential apartments and public utilities.

Where is this mixed-use property located?

The property is located at Belford, NJ.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Three‑unit mixed‑use property with one commercial space and two residential apartments; 2838 square feet of building area; Ground‑floor commercial component with residential units above