Detached Medical Office with
For Sale
$699,000
1562 Drumgoole Road E, Staten Island, NY 10309
COMMERCIAL - Staten Island, NY
Property Size1,612 SF
Lot Size0.09 Acres
Price / SF$433.62
Days on Market204
Property Features for 1562 Drumgoole Road E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R3X
Basement
Full, Finished
Subdivision
Princess Bay
Standard status
Active
Size
1,612 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
9412
Building Details
Year built
2007
Floors in Building
2
Number of units
1
Flooring type
Tile
Building materials
Wood Frame
Roof type
Asphalt
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Added: Feb 3
Changed: Aug 14
Last Checked: Aug 26 at 7:06AM
MLS# 498771
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This detached wood-frame property is configured as a dental office and has operated in that capacity for approximately 15 years. The 1,612-square-foot building includes a reception area, three treatment or office rooms, and a half bathroom on the first floor. The lower level adds three rooms and a 3/4 bathroom, while a stand-up attic provides storage. Tile flooring and an asphalt roof are among the existing improvements, and the building was constructed in 2007.
A Community Facility Certificate of Occupancy supports a range of professional and institutional uses identified in the source information, including medical offices, clinics, physical therapy practices, educational facilities, daycare centers, houses of worship, nonprofit offices, cultural institutions, libraries, and social service agencies. The R3X zoning district and private driveway are additional property characteristics. The building may also be converted back into a residential home if desired.
A Community Facility Certificate of Occupancy supports a range of professional and institutional uses identified in the source information, including medical offices, clinics, physical therapy practices, educational facilities, daycare centers, houses of worship, nonprofit offices, cultural institutions, libraries, and social service agencies. The R3X zoning district and private driveway are additional property characteristics. The building may also be converted back into a residential home if desired.
Key Highlights
- 1,612‑square‑foot detached building configured as a dental office
- Approximately 15 years of dental‑office operation
- First floor includes reception, 3 treatment/office rooms, and a half bathroom
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
$36,908
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
5.28%
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%
$738,160
$738.2K
Cap Rate 7%
$527,257
$527.3K
Cap Rate 9%
$410,089
$410.1K
Market Conditions
NOI Build-Up for 1,612 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
$61.9K $38.40/SF
− Vacancy
−$12.7K −$7.87/SF
EGI
$49.2K $30.53/SF
− OpEx
−$12.3K −$7.63/SF
NOI
$36.9K $22.90/SF
Area
Staten Island, NY
Vacancy
20.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$738,160
Cap Rate 7%
$527,257
Cap Rate 9%
$410,089
Alternative Uses
Best Use
Office B
$527.3K
$461.4K – $615.1K
NOI $36,908 @ 7.0% cap · market cap 5.28%
Second Best
Healthcare Medical
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$769.2K
$673.0K – $897.4K
NOI $53,841 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible professional property with a Community Facility Certificate of Occupancy and R3X zoning.
Where is this medical office space located?
The property is located at 1562 Drumgoole Road E Staten Island, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,612‑square‑foot detached building configured as a dental office; Approximately 15 years of dental‑office operation; First floor includes reception, 3 treatment/office rooms, and a half bathroom
