Corner Storefront with Two
For Sale
$1,380,000
1221 Bay St, Staten Island, NY 10305
Restaurant hookups are in place, with C1-2 and R4A zoning identified for the property.
Property Size2,875 SF
Days on Market130
Property Features for 1221 Bay St
General Information
Standard status
Active
Size
2,875 SF
Property subtype
Commercial
Zoning
C1-2 and R4A
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,979
Building Details
Building Size
2,875 SF
Year Built
1931
Stories
1
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Leo Chen
(718) 382-0001
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 5:37PM
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 corner storefront was built in 1931 and is currently configured as an adult day center. Two separate entrances provide distinct access points within the existing layout, while restaurant hookups are already installed. The property is described for restaurant, retail, or office use, with any expansion subject to architect review.
Located at 1221 Bay St in Staten Island, the property sits among retail businesses, restaurants, and local commercial activity within a dense residential setting. The site is close to the bridge and beach and records a Walk Score of 87, Transit Score of 68, and Bike Score of 59. C1-2 and R4A zoning designations are identified for the property.
Located at 1221 Bay St in Staten Island, the property sits among retail businesses, restaurants, and local commercial activity within a dense residential setting. The site is close to the bridge and beach and records a Walk Score of 87, Transit Score of 68, and Bike Score of 59. C1-2 and R4A zoning designations are identified for the property.
Key Highlights
- Corner storefront with two separate entrances
- Restaurant hookups already installed
- Built in 1931; currently configured 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
$62,566
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
4.53%
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%
$1,251,320
$1.3M
Cap Rate 7%
$893,800
$893.8K
Cap Rate 9%
$695,178
$695.2K
Market Conditions
NOI Build-Up for 2,875 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
$89.7K $31.20/SF
− Vacancy
−$6.3K −$2.18/SF
EGI
$83.4K $29.02/SF
− OpEx
−$20.9K −$7.25/SF
NOI
$62.6K $21.76/SF
Area
ZIP 10305
Vacancy
7.00%
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%
$1,251,320
Cap Rate 7%
$893,800
Cap Rate 9%
$695,178
Alternative Uses
Best Use
Specialty Retail
$893.8K
$782.1K – $1.04M
NOI $62,566 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$789.2K
$690.5K – $920.7K
NOI $55,243 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,026 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
56k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Groceries 24%
Dining 6%
Electronics 1%
Dollar Tree
Shops & Services
22,368 visits/mo
0.4 miles
Market Fresh Supermarket
Groceries
13,349 visits/mo
0.4 miles
Mobil
Shops & Services
9,291 visits/mo
0.3 miles
Clean Rite Center
Shops & Services
3,297 visits/mo
0.3 miles
Pronto Pizza
Dining
2,553 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Restaurant hookups are in place, with C1-2 and R4A zoning identified for the property.
Where is this storefront property located?
The property is located at 1221 Bay St Staten Island, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Corner storefront with two separate entrances; Restaurant hookups already installed; Built in 1931; currently configured as an adult day center
