Building Details

Building Size 2,590 SF

Year Built 1950

Stories 2

Tenancy Multi

Listing Agency: Timothy A Henry, Sackman Realty Show Phone

Listed By: Joe Gutowski

Source: Opuselitenj

Added: Oct 29 Changed: Nov 4 Last Checked: Nov 4 at 8:41AM

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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 Timothy A Henry, Sackman Realty

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Investment Insights

Based on property information with market context.

This 2,590-square-foot multifamily property was built in 1950 and includes a 3-bay garage. The building is described as move-in ready, with the option to occupy one unit while renting another or to use the property as a single-family residence.

The property is in Belmar, within walking distance of the beaches. Parking includes a private 6-car lot, with additional paved, off-street, and on-street parking noted.

Key Highlights

• 2,590‑square‑foot multifamily property built in 1950
• 3‑bay garage
• Private 6‑car parking lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,829

Cap Rate

3.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$796,580 $796.6K

Cap Rate 7%

$568,986 $569.0K

Cap Rate 9%

$442,544 $442.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,590 SF

Gross rent

$77.7K $30.00/SF

− Vacancy

−$5.3K −$2.04/SF

EGI

$72.4K $27.96/SF

− OpEx

−$32.6K −$12.58/SF

NOI

$39.8K $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 Rate 5%

$796,580

Cap Rate 7%

$568,986

Cap Rate 9%

$442,544

Alternative Uses

Best Use

Apartment 5plus

$569.0K

$497.9K – $663.8K (±1% cap)

NOI $39,829 @ 7.0% cap · market cap 3.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$676.3K

$591.8K – $789.0K (±1% cap)

NOI $47,341 @ 7.0% cap · market cap 3.71%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,082

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - A private parking lot and garage serve this Belmar property within walking distance of the beach.

Where is this multifamily property located?

The property is located at 517 14th Avenue Belmar, NJ.

What is the asking price?

The asking price for this property is $1,275,000.

What are key features of this property?

This property features: 2,590‑square‑foot multifamily property built in 1950; 3‑bay garage; Private 6‑car parking lot