Ten-Unit Strip
For Sale
$6,500,000
1674-1696 Richmond, Staten Island, NY 10304
Commercial Sale, Staten Island, NY
Property Size26,000 SF
Lot Size0.62 Acres
Price / SF$250
Days on Market486
Property Features for 1674-1696 Richmond
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
32
Standard status
Active
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
81791
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
High Ceilings
3 Phase Power
All New LED Lighting
CAC
Building Details
Floors in Building
2
Number of units
10
Building materials
Block
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Added: May 2, 2025
Changed: Aug 20
Last Checked: Aug 30 at 2:06PM
MLS# 857014
Copyright © 2026 OneKey MLS. 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 10-unit retail center occupies a 0.6198-acre parcel and includes a private parking lot with 32 spaces. The property has high ceilings, central air conditioning, three-phase power, and all-new LED lighting. Two curb cuts support access to the site, while R3-1/C1-1 zoning provides the recorded land-use framework. The center includes restaurant and storefront space, with several occupied suites and additional storefront availability identified in the tenancy schedule.
The property is located on Richmond Road in Staten Island, near I-278 and the Verrazano Bridge. Nearby businesses and services include Starbucks, Toyota, Honda, Northwell Health, Staples, CVS, OrangeTheory Fitness, Sherwin-Williams, Fine Fare Supermarkets, and Subway. The site is reported to receive daily traffic of 16,500+ vehicles, adding measurable exposure for retail and service occupants.
The property is located on Richmond Road in Staten Island, near I-278 and the Verrazano Bridge. Nearby businesses and services include Starbucks, Toyota, Honda, Northwell Health, Staples, CVS, OrangeTheory Fitness, Sherwin-Williams, Fine Fare Supermarkets, and Subway. The site is reported to receive daily traffic of 16,500+ vehicles, adding measurable exposure for retail and service occupants.
Key Highlights
- 10‑unit strip center on a 0.6198‑acre lot
- 32‑space private parking lot with two curb cuts
- R3‑1/C1‑1 zoning
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
$562,770
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
8.66%
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%
$11,255,400
$11.3M
Cap Rate 7%
$8,039,571
$8.0M
Cap Rate 9%
$6,253,000
$6.3M
Market Conditions
NOI Build-Up for 26,000 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
$811.2K $31.20/SF
− Vacancy
−$60.8K −$2.34/SF
EGI
$750.4K $28.86/SF
− OpEx
−$187.6K −$7.22/SF
NOI
$562.8K $21.65/SF
Area
ZIP 10304
Vacancy
7.50%
Lease Rate
$31.20 /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%
$11,255,400
Cap Rate 7%
$8,039,571
Cap Rate 9%
$6,253,000
Alternative Uses
Best Use
Specialty Retail
$8.04M
$7.03M – $9.38M
NOI $562,770 @ 7.0% cap · market cap 8.66%
Second Best
Retail
$7.14M
$6.24M – $8.33M
NOI $499,590 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$12.41M
$10.86M – $14.47M
NOI $868,406 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16,500 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
195k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 27%
Beauty & Spa 1%
Electronics 1%
McDonald's
Dining
45,847 visits/mo
0.1 miles
Chili's Grill & Bar
Dining
26,294 visits/mo
0.3 miles
Exxon
Shops & Services
19,858 visits/mo
0.1 miles
Tim Hortons
Dining
17,907 visits/mo
0.1 miles
Buffalo Wild Wings
Dining
16,686 visits/mo
0.3 miles
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Coral Island — 1660 Richmond Ave, Staten Island, NY 10314
- Expressway Plaza — 1445 Richmond Ave, Staten Island, NY 10314
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with restaurant space, private parking, and prominent Richmond Road exposure.
Where is this shopping center located?
The property is located at 1674-1696 Richmond Staten Island, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 10‑unit strip center on a 0.6198‑acre lot; 32‑space private parking lot with two curb cuts; R3‑1/C1‑1 zoning
