Renovated Mixed-Use Property For
For Sale
$999,999
Pending
2611 Belmar Boulevard, West Belmar, NJ 07719
3400+ sq ft renovated mixed-use property with income potential.
Property Size3,464 SF
Lot Size0.24 Acres
Days on Market196
Property Features for 2611 Belmar Boulevard
General Information
Standard status
Pending
Size
3,464 SF
Lot size
0.24 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,213
Amenities
Central air
Display Window
Open
Corner Lot
Outdoor Shower
Asphalt Roof
Assigned
Baseboard Heating
Central Air Cooling
Forced Air Heating
Lighted
On Site
Paver Block
Reserved
Window Unit(s) Cooling
Building Details
Year Built
1969
Listing Agency:
KELLER WILLIAMS AVON REALTY
(732) 988-8900
Listed By:
RICHARD COVEY
Source:
Corcoran
Added: Feb 14
Changed: Aug 22
Last Checked: Aug 14 at 6:02AM
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
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 = 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
$46,764
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
4.68%
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%
$935,280
$935.3K
Cap Rate 7%
$668,057
$668.1K
Cap Rate 9%
$519,600
$519.6K
Market Conditions
NOI Build-Up for 3,464 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
$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 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%
$935,280
Cap Rate 7%
$668,057
Cap Rate 9%
$519,600
Alternative Uses
Best Use
Mixed Use
$668.1K
$584.6K – $779.4K
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
NOI $63,316 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
