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    Property profile & analytics

    2071 Clove Rd Staten Island, NY 10304

    • Investment properties
    • 54,500 SF
    • 2.37 lot acres
    For Lease
    View listing
    $35 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0128710
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sovereign Medical Urology, Dr Basillote, Dr Maggio & Lynda Baron, NP-C / Medical Clinic
    • Authority Insurance LLC / Insurance Agency
    • Convenient Mart / Grocery & Convenience Store / Food Market
    • CTown Supermarkets / Specialty Food Shop / Supermarket
    • St Marys Physical Therapy Inc / Physician

    Property Details for 2071 Clove Rd

    Year built
    1939
    Lot size
    2.37 lot acres
    Property size
    54,500 SF
    Zone code
    C8-1
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    02921-0006
    APU
    29210006

    Description

    This exceptional commercial property, located at 2071 Clove Rd. in the vibrant Grasmere section of Staten Island, presents a unique investment opportunity. The complex boasts a total of 54,000 square feet across eight buildings, offering a diverse range of spaces suitable for various business needs. Currently, three retail/office spaces are available, ranging from 1,360 to 3,067 square feet, ideal for businesses seeking high visibility and convenient access. The property's Class B designation reflects its well-maintained condition and functional layout. Built in 1939, the complex benefits from ample parking with 120 spaces available for tenants and customers. Its strategic location offers unparalleled convenience, being just steps away from the Grasmere train station and a major bus stop, ensuring excellent accessibility for employees and clients. The property is zoned C8-1, providing flexibility for a variety of commercial uses. The property's address is 2071 Clove Rd., with a cross street of Mosel Ave., and its Assessor's Parcel Number (APN) is 5029210006 in Richmond County. Elevators are available for convenient access to multiple floors. This multi-tenant property offers a compelling blend of location, size, and amenities, making it an attractive proposition for discerning investors and businesses alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,395,000
      6.5%
      $16,980,000
      7%
      $15,765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,466,000
      Market price range: $8.43M - $16.5M
      AI Estimate
      $9,583,000
      Market price range: $3.93M - $10.6M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $12,975,000
      Current use
      AUTO REPAIR, GARAGE
      $19,140,000
      Change: +47% Conversion: Difficult
      RETAIL STORES
      $18,120,000
      Change: +40% Conversion: Easy
      OFFICE BUILDING
      $16,315,000
      Change: +26% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $11,655,000
      Change: -10% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.0832
    Latitude
    40.605
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $259,092
    $1,253,250
    $1,192,860
    $2,446,110
    -
    $2,785,000
    $2,959,000
    $5,744,000

    Comparable in this City

    • Value Estimation
      $1,395,000
      5,244 SF

      442 Bay St

      STORE/OFFICE (MIXED USE) • 5,244 SF
      442 Bay St, Staten Island, NY 10304-3818
      View Details
    • Value Estimation
      $2,045,000
      11,714 SF

      453 Bay St, Unit 459

      STORE/OFFICE (MIXED USE) • 11,714 SF
      453 Bay St, Staten Island, NY 10304-3851
      View Details
    • Value Estimation
      $690,000
      3,908 SF

      558 Bay St

      STORE/OFFICE (MIXED USE) • 3,908 SF
      558 Bay St, Staten Island, NY 10304-3836
      View Details
    • Value Estimation
      $3,865,000
      14,364 SF

      1657-1659 Richmond Rd

      STORE/OFFICE (MIXED USE) • 14,364 SF
      1657-1659 Richmond Rd, Staten Island, NY 10304
      View Details
    • Value Estimation
      $2,990,000
      11,100 SF

      530 Bay St

      STORE/OFFICE (MIXED USE) • 11,100 SF
      530 Bay St, Staten Island, NY 10304-3844
      View Details
    • Value Estimation
      $3,735,000
      25,900 SF

      101 Water St

      STORE/OFFICE (MIXED USE) • 25,900 SF
      101 Water St, Staten Island, NY 10304-2760
      View Details

    Similar Nearby for Sale

    • $3,575,000
      14,784 SF

      Staten Island Mixed-Use Investment

      Turn-key mixed-use property with apartments and commercial storefronts.
      360 Van Duzer St, Staten Island, NY 10304
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      Mixed-Use Investment Opportunity, Staten Island

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    • New
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      2,701 SF

      Staten Island Mixed-Use Corner Property

      Income-generating mixed-use property in Upper Dongan Hills neighborhood.
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      View Details
    • $1,925,000
      8,500 SF

      Staten Island Mixed-Use Portfolio

      Three-building portfolio in Stapleton neighborhood with free market rents.
      219-225 Broad St, Staten Island, NY 10304
      View Details
    • $1,090,000
      2,340 SF

      Staten Island Mixed-Use Building

      Mixed-use building with restaurant and apartment in Staten Island.
      4164 Victory Blvd, Staten Island, NY 10304
      View Details
    • $1,799,999
      6,450 SF

      Staten Island Multifamily Brick Building

      All-brick 8-family building with detached garages and excellent rental income.
      12 Court St, Staten Island, NY 10304
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      1,500 SF

      Staten Island Retail Space - 1500 SF

      Prime Retail Space, Stapleton, Immediate Occupancy
      100 Canal St, Staten Island, NY 10304
      View Details
    • $900 /Mo
      8,550 SF

      Renovated Commercial Space For Rent

      Renovated commercial space ideal for small businesses and individual professionals.
      1864 Clove Rd, Staten Island, NY 10304
      View Details
    • $900 /Mo
      8,550 SF

      Renovated Commercial Space on Clove

      Renovated commercial space for rent in a mixed-use building.
      1864 Clove Rd, Staten Island, NY 10304
      View Details
    • $35 SF/Yr
      54,000 SF

      Staten Island Office/Retail Complex

      Grasmere Location, Multiple Spaces Available
      2071 Clove Rd, Staten Island, NY 10304
      View Details
    • $10,000 /Mo
      5,000 SF

      Downtown Staten Island Warehouse Space

      5,000 sq ft warehouse with office and rolling doors.
      81 Prospect St, Staten Island, NY 10304
      View Details
    • $3,000 /Mo
      1,000 SF

      Downtown Staten Island Office Space

      Versatile 1000 sq. ft. office in vibrant downtown Staten Island.
      101 Water St, Staten Island, NY 10304
      View Details
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    Staten Island, NY 10304
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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