Corner Storefront With Two
For Sale
Contact for pricing
1221-1223 Bay Street, Staten Island, NY 10305
The 1,835-square-foot commercial space currently operates as an adult day center and includes restaurant hookups.
Property Size1,835 SF
Price / SF$806.54
Days on Market158
Property Features for 1221-1223 Bay Street
General Information
Standard status
Active
Size
1,835 SF
Property subtype
Business for Sale, Office, Retail
Zoning
R4A
Net Operating Income
$59,621
Additional Details
Corner Location
Yes
Amenities
existing hookups
two separate entrances
Building Details
Year Built
1931
Buildings
2
Stories
1
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Leo Chen
Source:
Crexi
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 1:21AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This 1,835-square-foot storefront property was built in 1931 and is currently configured for use as an adult day center. The corner layout includes two separate entrances, providing distinct points of access and flexibility for organizing the interior. Restaurant hookups are already in place, supporting consideration of a restaurant conversion subject to applicable approvals.
The property is located at 1221-1223 Bay Street in Staten Island, New York, within a dense residential setting surrounded by retail, restaurants, and local businesses. The offering includes the adjacent street addresses as a package, providing a combined commercial storefront presence along Bay Street.
The property is located at 1221-1223 Bay Street in Staten Island, New York, within a dense residential setting surrounded by retail, restaurants, and local businesses. The offering includes the adjacent street addresses as a package, providing a combined commercial storefront presence along Bay Street.
Key Highlights
- 1,835‑square‑foot storefront property
- Corner configuration with two separate entrances
- Currently used as an adult day center
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
$51,700
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
3.49%
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%
$1,034,000
$1.0M
Cap Rate 7%
$738,571
$738.6K
Cap Rate 9%
$574,444
$574.4K
Market Conditions
NOI Build-Up for 1,835 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
$85.0K $46.32/SF
− Vacancy
−$16.1K −$8.75/SF
EGI
$68.9K $37.57/SF
− OpEx
−$17.2K −$9.39/SF
NOI
$51.7K $28.17/SF
Area
ZIP 10305
Vacancy
18.90%
Lease Rate
$46.32 /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%
$1,034,000
Cap Rate 7%
$738,571
Cap Rate 9%
$574,444
Alternative Uses
Best Use
Office B
$738.6K
$646.3K – $861.7K
NOI $51,700 @ 7.0% cap · market cap 3.49%
Second Best
Specialty Retail
$570.5K
$499.2K – $665.6K
NOI $39,933 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$875.6K
$766.1K – $1.02M
NOI $61,289 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,242
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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?
Storefront property - The 1,835-square-foot commercial space currently operates as an adult day center and includes restaurant hookups.
Where is this storefront property located?
The property is located at 1221-1223 Bay Street Staten Island, NY.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: 1,835‑square‑foot storefront property; Corner configuration with two separate entrances; Currently used as an adult day center
