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    Medical/Office Building on Hylan Blvd Title is generated by Realmo AI

    2777 Hylan Blvd, Staten Island, NY 10306

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    Modern, turn-key medical facility in a prime location.

    Type:Office
    Property size:
    7,673 SF
    Price / SF:
    $781/SF
    Added:
    Feb 11, 2025
    Days on Market:
    479
    Last Refresh:
    May 12 at 8:56 pm

    Property Features for 2777 Hylan Blvd

    General Information

    Standard status
    Active
    Size
    7,673 SF
    Property subtype
    Office

    Building Details

    Year Built
    2000

    We can help!

    Listing Contact
    Robert Nixon

    Listing agent Robert Nixon License #10401253010

    Listing office PreReal Prendamano Real Estate

    Listing date Feb 11, 2025

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of PreReal Prendamano Real Estate

    HighLights

    • Two fully accredited AAAASF operatory rooms allow for on‑site surgeries under general anesthesia.
    • Prime location on the corner of Hylan Blvd & Reno Ave.
    • Turn‑key, state‑of‑the‑art medical and office building.
    • Flexible layout allows for full building occupancy or generating passive income from renting one floor.
    • ADA accessibility and elevator.
    • Ample parking on the side and rear of the property.

    Overview

    The property at 2777 Hylan Blvd is a state-of-the-art medical and office building built in 2002. The solid masonry structure spans two floors and is equipped with ADA accessibility, an elevator, and ample parking on the side and rear of the property. The main level, previously occupied by a plastic surgeon, features a reception and waiting area with a private restroom, multiple exam rooms and private offices, additional restrooms, a kitchenette, soaring ceilings, abundant natural light, and multiple points of egress. It also includes two fully accredited AAAASF operatory rooms, allowing for on-site surgeries under general anesthesia. The lower level, accessible by elevator, is home to a radiology practice and includes a reception and waiting area, several private exam rooms, larger office spaces, and multiple restrooms. The building is located on the corner of Hylan Blvd & Reno Ave. The property is suitable for an owner-user looking to expand or relocate their practice, with the ability to perform surgeries on-site. The flexible layout allows for full building occupancy or the option to utilize one floor while generating passive income from the other. The building size is 7673 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sleek Aesthetics Inc. Spa & Massage Center Dr. Sasan Yasharpour, ... Physician RADIOLOGY SERVICES OF NEW ... Physician JOHN W DECORATO, ... Physician EMsculpt Physician

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Animal Health Group on the Boulevard — 2300 Hylan Blvd, Staten Island, NY 10306
    • Lisa Sether — 2300 Hylan Blvd, Staten Island, NY 103063208
    • Michael Arpino — 2300 Hylan Blvd, Staten Island, NY 103063208
    • Banfield Pet Hospital — 2656 Hylan Blvd Ste 240, Staten Island, NY 10306

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.115559
    Latitude
    40.565148

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    FAQs

    What type of property is this?
    Medical Office Space - Modern, turn-key medical facility in a prime location.
    Where is this medical office space located?
    The property is located at 2777 Hylan Blvd Staten Island, NY.
    What is the asking price?
    The asking price for this property is $5,995,000.
    What are key features of this property?
    This property features: Two fully accredited AAAASF operatory rooms allow for on‑site surgeries under general anesthesia.; Prime location on the corner of Hylan Blvd & Reno Ave.; Turn‑key, state‑of‑the‑art medical and office building.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Nixon
    Real Estate License ID: 10401253010
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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.

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