Building Details

Year Built 1969

Listing Agency: KELLER WILLIAMS AVON REALTY Show Phone

Listed By: RICHARD COVEY Show Phone

Source: Corcoran

Added: Feb 14 Changed: Oct 9 Last Checked: Oct 19 at 6:29AM

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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 KELLER WILLIAMS AVON REALTY

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Investment Insights

Based on property information with market context.

This mixed-use property offers over 3400 sq ft of space on a 10,400 sq ft lot. The property was fully renovated inside and out in 2013. The upstairs features a large 3-bedroom, 2-bathroom apartment with parking for 2 vehicles, a private yard, and a shared deck. The apartment is currently vacant and has a rental potential of $4,000 per month. The downstairs commercial space is tenant-occupied by a generator business that has been operating for over 12 years. The current rent is $3,200 per month, with an option to renew in September of 2027 for $4,000 per month. The commercial space offers ample parking and storage. The property is located in the Glendola Section of Wall Township, close to Routes 138, 18, Route 35, and the Garden State Parkway.

Key Highlights

• High income potential: $4,000/month from the vacant upstairs apartment and $3,200/month (increasing to $4,000 in 2027) from the downstairs commercial tenant.
• Fully renovated in 2013, both inside and outside.
• Large 3‑bedroom, 2‑bathroom apartment upstairs with private yard and parking for 2 vehicles.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,764

Cap Rate

4.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$935,280 $935.3K

Cap Rate 7%

$668,057 $668.1K

Cap Rate 9%

$519,600 $519.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,464 SF

Gross rent

$83.1K $24.00/SF

− Vacancy

−$8.3K −$2.40/SF

EGI

$74.8K $21.60/SF

− OpEx

−$28.1K −$8.10/SF

NOI

$46.8K $13.50/SF

Area

Monmouth County, NJ

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$935,280

Cap Rate 7%

$668,057

Cap Rate 9%

$519,600

Alternative Uses

Best Use

Mixed Use

$668.1K

$584.6K – $779.4K (±1% cap)

NOI $46,764 @ 7.0% cap · market cap 4.68%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$904.5K

$791.5K – $1.06M (±1% cap)

NOI $63,316 @ 7.0% cap · market cap 6.33%

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

Property Analytics

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Current Use

Aggressive Power Systems Electrical Service

Suggested Use

Top Pick Real Estate Agency Restaurant Hair Salon Spa & Massage Center Building Supply Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

58

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

Frequently Asked Questions

What type of property is this?

Mixed-use property - 3400+ sq ft renovated mixed-use property with income potential.

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: High income potential: $4,000/month from the vacant upstairs apartment and $3,200/month (increasing to $4,000 in 2027) from the downstairs commercial tenant.; Fully renovated in 2013, both inside and outside.; Large 3‑bedroom, 2‑bathroom apartment upstairs with private yard and parking for 2 vehicles.