Two-Story Mixed-Use
For Sale
$1,500,000
1614 State Route 71, West Belmar, NJ 07719
COMMERCIAL - West Belmar, NJ
Property Size3,997 SF
Lot Size0.36 Acres
Price / SF$375.28
Days on Market34
Property Features for 1614 State Route 71
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential, Professional, Neighborhood, Multi-Use, Commercial
Parking features
Parking Lot
Exterior features
Display Window
Lot features
Highway Frontage
Directions
From Route 35 in Belmar, go east on Hwy. 71.
Standard status
Active
APN
52-00001-0000-00003
Size
3,997 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7623
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Flooring type
Concrete
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway HomeServices Fox & Roach - Manalapan
(732) 536-1200
Listed By:
Genuino Del Carmen
(732) 536-1200
Added: Jul 7
Changed: Aug 7
Last Checked: Aug 9 at 8:06PM
MLS# 22620712
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.
Built in 1930, this two-story mixed-use property combines residential and commercial components within 3,997 square feet. The upper level contains two two-bedroom apartments, while the ground floor includes a barber shop, dog grooming business, and private office. Existing commercial occupants are open to working with a new owner.
The property encompasses 0.36 acres at 1614 State Route 71 in West Belmar, approximately half a mile from the Belmar Marina. Physical features include display windows, stucco construction, concrete flooring, baseboard heat, window-unit cooling, an asphalt roof, and an on-site parking lot. Public water and public sewer serve the property.
The property encompasses 0.36 acres at 1614 State Route 71 in West Belmar, approximately half a mile from the Belmar Marina. Physical features include display windows, stucco construction, concrete flooring, baseboard heat, window-unit cooling, an asphalt roof, and an on-site parking lot. Public water and public sewer serve the property.
Key Highlights
- 3,997‑square‑foot, two‑story mixed‑use property built in 1930
- Two 2‑bedroom apartments occupy the second floor
- Ground floor includes a barber shop, dog grooming business, and private office
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
Property Profile
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 - Ground-floor commercial space with residential units above, parking, and public utilities.
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: 3,997‑square‑foot, two‑story mixed‑use property built in 1930; Two 2‑bedroom apartments occupy the second floor; Ground floor includes a barber shop, dog grooming business, and private office
