Office Units with Conference
For Sale
$1,199,000
2940 Richmond Terrace, Staten Island, NY 10303
Commercial, Staten Island, NY
Property Size3,450 SF
Lot Size0.07 Acres
Price / SF$347.54
Days on Market150
Property Features for 2940 Richmond Terrace
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C2-2/R3A
Subdivision
Mariners Harbor
Standard status
Active
Size
3,450 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
30462
Building Details
Number of units
2
Flooring type
Tile
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Renzhang Danny Dong · License #RD7348
(929) 291-9897
Added: Apr 13
Changed: Sep 6
Last Checked: Sep 9 at 9:06PM
MLS# 500412
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 3,450-square-foot office property offers an open, adaptable configuration with two expansive conference rooms and one lavatory. High ceilings, large windows, tile flooring, and brick construction define the interior and support a bright professional setting. The layout can accommodate office, educational, or creative business functions, subject to applicable requirements.
The property is located along Richmond Terrace in Staten Island, with access to major transportation routes, the Staten Island Ferry, and surrounding residential communities. Its 0.0689-acre site provides a compact commercial footprint for an owner-user or investor seeking office space with established conference and meeting areas.
Zoning is designated C2-2/R3A. The property is offered for sale.
The property is located along Richmond Terrace in Staten Island, with access to major transportation routes, the Staten Island Ferry, and surrounding residential communities. Its 0.0689-acre site provides a compact commercial footprint for an owner-user or investor seeking office space with established conference and meeting areas.
Zoning is designated C2-2/R3A. The property is offered for sale.
Key Highlights
- 3,450 square feet of office space
- Two expansive conference rooms
- One lavatory
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
$78,991
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
6.59%
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%
$1,579,820
$1.6M
Cap Rate 7%
$1,128,443
$1.1M
Cap Rate 9%
$877,678
$877.7K
Market Conditions
NOI Build-Up for 3,450 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
$132.5K $38.40/SF
− Vacancy
−$27.2K −$7.87/SF
EGI
$105.3K $30.53/SF
− OpEx
−$26.3K −$7.63/SF
NOI
$79.0K $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%
$1,579,820
Cap Rate 7%
$1,128,443
Cap Rate 9%
$877,678
Alternative Uses
Best Use
Office B
$1.13M
$987.4K – $1.32M
NOI $78,991 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,231 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 10303, NY
28,155
Population
9,580
Households
2.9
Avg Household Size
34
Median Age
30%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
8,798
Density / Sq Mi
$79,429
Median Household Income
$49,072
Median Earnings
$1,520
Median Rent
$457,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - C2-2/R3A-zoned commercial space with high ceilings, large windows, and a flexible interior layout.
Where is this office units located?
The property is located at 2940 Richmond Terrace Staten Island, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3,450 square feet of office space; Two expansive conference rooms; One lavatory
