Three-Unit Mixed-Use
For Sale
$675,000
Pending
Belford, NJ 07718, Belford, NJ 07718
Commercial Sale, Belford, NJ
Property Size2,838 SF
Days on Market138
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
GPS
Subdivision
Belford
Standard status
Pending
Size
2,838 SF
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Listing Agency:
C21 Thomson & Co.
(732) 945-7035
Listed By:
Donald P Glenn · License #2326222
(732) 945-7035
Added: Apr 17
Changed: Aug 26
Last Checked: Sep 1 at 10:06AM
MLS# 22610760
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.
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.
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 = 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
$43,643
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
6.47%
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%
$872,860
$872.9K
Cap Rate 7%
$623,471
$623.5K
Cap Rate 9%
$484,922
$484.9K
Market Conditions
NOI Build-Up for 2,838 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
$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 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%
$872,860
Cap Rate 7%
$623,471
Cap Rate 9%
$484,922
Alternative Uses
Best Use
Apartment 5plus
$623.5K
$545.5K – $727.4K
NOI $43,643 @ 7.0% cap · market cap 6.47%
Second Best
Retail
$578.7K
$506.4K – $675.1K
NOI $40,508 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$741.1K
$648.4K – $864.6K
NOI $51,874 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
