Remodeled Triplex Near the
For Sale
$1,250,000
Pending
304 14th Avenue Unit MULTI FAMILY, Belmar, NJ 07719
Three-unit coastal property with two remodeled residences and a separate upper-level apartment.
Property Size2,478 SF
Days on Market151
Property Features for 304 14th Avenue Unit MULTI FAMILY
General Information
Standard status
Pending
Size
2,478 SF
Property subtype
Multi-Family / Three Family
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,575
Amenities
2
Partial
6
3.0
No
Building Details
Year Built
1940
Buildings
2
Listing Agency:
Ward Wight Sotheby's International Realty
(732) 449-3322
Listed By:
Jacob L Smith · License #0560385
(732) 449-3322
Source:
Compass
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 31 at 1:27AM
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 Ward Wight Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1940, this Belmar triplex contains 2478 SF across three separate residences. The front Craftsman home offers 1298sf with three bedrooms, wood flooring, central air, laundry, a covered porch, and a renovated bathroom with dual vanity and a large tiled shower. Its updated kitchen includes white Shaker cabinetry, quartz countertops, a tiled backsplash, under-cabinet lighting, and stainless-steel appliances.
The rear structure includes a remodeled 700sf two-bedroom apartment with in-unit washer and dryer, Shaker cabinets, granite countertops, and stainless-steel appliances, plus an upper-level 480sf one-bedroom unit with a private covered porch. Additional property features include a Yankee basement, paved driveway, outdoor shower, and yard. The property is located two blocks from the beach on a tree-lined street.
The rear structure includes a remodeled 700sf two-bedroom apartment with in-unit washer and dryer, Shaker cabinets, granite countertops, and stainless-steel appliances, plus an upper-level 480sf one-bedroom unit with a private covered porch. Additional property features include a Yankee basement, paved driveway, outdoor shower, and yard. The property is located two blocks from the beach on a tree-lined street.
Key Highlights
- Three‑unit property totaling 2478 SF
- Front 1298sf remodeled 3BR Craftsman residence
- Rear 700sf remodeled 2BR apartment
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
$41,472
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
3.32%
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%
$829,440
$829.4K
Cap Rate 7%
$592,457
$592.5K
Cap Rate 9%
$460,800
$460.8K
Market Conditions
NOI Build-Up for 2,478 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
$63.3K $25.56/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$59.2K $23.91/SF
− OpEx
−$17.8K −$7.17/SF
NOI
$41.5K $16.74/SF
Area
Monmouth County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$829,440
Cap Rate 7%
$592,457
Cap Rate 9%
$460,800
Alternative Uses
Best Use
Multifamily LT 5
$592.5K
$518.4K – $691.2K
NOI $41,472 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$544.4K
$476.3K – $635.1K
NOI $38,107 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$647.1K
$566.2K – $754.9K
NOI $45,294 @ 7.0% cap · market cap 3.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
974
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?
Triplex - Three-unit coastal property with two remodeled residences and a separate upper-level apartment.
Where is this triplex located?
The property is located at 304 14th Avenue Unit MULTI FAMILY Belmar, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑unit property totaling 2478 SF; Front 1298sf remodeled 3BR Craftsman residence; Rear 700sf remodeled 2BR apartment
