Courtesy: Diane Turton, Realtors-Avon
732-774-0246
Kelly Cutillo
Commercial property located in Belmar's Seaport Redevelopment Zone, offering potential for mixed-use development with street-level retail and up to two residential levels above, subject to municipal approvals. Zoning permits development up to 45' in height and provides a streamlined redevelopment framework. Surrounded by similar mixed-use projects, this location aligns with the area's long-term planning vision. Ideal opportunity for investors or developers seeking flexibility within an established redevelopment district. Ideally suited for a developer or investor seeking to create a high-quality project aligned with existing neighborhood patterns, this property offers both near-term usability and long-term redevelopment potential in one of Belmar's most forward-looking zones.
Stabilized Mixed-Use Investment With Residential Upside – Belmar, NJ 1614 Route 71 presents an attractive mixed-use investment opportunity in the heart of Belmar, New Jersey. The property consists of three fully leased street-level retail stores and two spacious 2-bedroom residential apartments, offering a balanced income stream with built-in upside. The asset generates a projected 7.1% cap rate on current operations with a gross annual income of $118,200. The retail component is fully leased, providing stable in-place cash flow, while the residential units offer clear upside through rent increases, allowing an investor to enhance returns over time. Located along Route 71, the property benefits from strong visibility, traffic exposure, and proximity to Belmar’s downtown, transit, and Jersey Shore amenities, supporting both retail tenancy and residential demand. Well-suited for investors seeking steady cash flow with value-add potential in a proven shore market.
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Belmar is located in New Jersey. Belmar, New Jersey has a population of 5,869. Belmar is less family-centric than the surrounding county with 15.31% of the households containing married families with children. The county average for households married with children is 34%.
The median household income in Belmar, New Jersey is $90,461. The median household income for the surrounding county is $110,356 compared to the national median of $69,021. The median age of people living in Belmar is 42.3 years.
The average high temperature in July is 84.2 degrees, with an average low temperature in January of 22.9 degrees. The average rainfall is approximately 48.2 inches per year, with 24.6 inches of snow per year.
