Mixed-Use Building With
New
For Sale
$1,500,000
1614 State Route 71, West Belmar, NJ 07719
Two-story property combines residential units with ground-floor commercial space.
Property Size3,997 SF
Days on Market4
Property Features for 1614 State Route 71
General Information
Standard status
Active
Size
3,997 SF
Property subtype
Commercial
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,623
Building Details
Building Size
3,997 SF
Year Built
1930
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Fox & Roach - Manalapan
(732) 536-1200
Listed By:
Genuino Del Carmen
(732) 536-1200
Source:
Sackmanrealty
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 7:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Fox & Roach - Manalapan
Investment Insights
Based on property information with market context.
Built in 1930, this two-story mixed-use property pairs residential space upstairs with commercial operations at street level. The second floor contains two two-bedroom apartments, while the ground floor includes a barber shop, dog grooming business, and private office.
The property is located on State Route 71, approximately half a mile from Belmar Marina. Its existing combination of apartments and multiple commercial spaces creates a varied layout within one building.
The property is located on State Route 71, approximately half a mile from Belmar Marina. Its existing combination of apartments and multiple commercial spaces creates a varied layout within one building.
Key Highlights
- Two two‑bedroom apartments occupy the second floor
- Ground floor includes a barber shop, dog grooming business, and private office
- Two‑story mixed‑use property built in 1930
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
$61,466
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
4.10%
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%
$1,229,320
$1.2M
Cap Rate 7%
$878,086
$878.1K
Cap Rate 9%
$682,956
$683.0K
Market Conditions
NOI Build-Up for 3,997 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
$119.9K $30.00/SF
− Vacancy
−$8.2K −$2.04/SF
EGI
$111.8K $27.96/SF
− OpEx
−$50.3K −$12.58/SF
NOI
$61.5K $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%
$1,229,320
Cap Rate 7%
$878,086
Cap Rate 9%
$682,956
Alternative Uses
Best Use
Apartment 5plus
$878.1K
$768.3K – $1.02M
NOI $61,466 @ 7.0% cap · market cap 4.10%
Second Best
Specialty Retail
$873.2K
$764.1K – $1.02M
NOI $61,125 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.04M
$913.2K – $1.22M
NOI $73,059 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
806
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
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 - Two-story property combines residential units with ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 1614 State Route 71 West Belmar, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two two‑bedroom apartments occupy the second floor; Ground floor includes a barber shop, dog grooming business, and private office; Two‑story mixed‑use property built in 1930
