Corner Storefront with Dual
For Sale
$1,380,000
1221 Bay Street, Staten Island, NY 10305
1931 commercial space with existing hookups and a layout adaptable to restaurant, retail, or office operations.
Property Size2,875 SF
Days on Market279
Property Features for 1221 Bay Street
General Information
Standard status
Active
Size
2,875 SF
Property subtype
Commercial
Zoning
R4A
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Amenities
existing hookups
two separate entrances
Building Details
Building Size
2,875 SF
Year Built
1931
Stories
1
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Priscilla Tran
(718) 382-0001
Source:
Michaelfraulo
Added: Nov 24, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
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 at 1221 Bay Street was built in 1931 and is currently configured for use as an adult day center. Two separate entrances provide distinct points of access and support flexible interior planning. Existing hookups are in place for restaurant-related use, while the property is also identified as suitable for retail or office operations.
The building sits among retail shops, restaurants, and other local businesses in a densely residential setting on Staten Island. Its Bay Street position places it close to the bridge and beach, with the corner configuration providing exposure to surrounding activity. Expansion may be considered subject to architect review.
The building sits among retail shops, restaurants, and other local businesses in a densely residential setting on Staten Island. Its Bay Street position places it close to the bridge and beach, with the corner configuration providing exposure to surrounding activity. Expansion may be considered subject to architect review.
Key Highlights
- Corner storefront with two separate entrances
- Built in 1931
- Existing hookups support restaurant‑related use
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
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,242
Businesses Nearby
113k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 40%
Shops & Services 29%
Dining 17%
Groceries 11%
Nike Factory Store
Apparel
22,796 visits/mo
0.3 miles
H&M
Apparel
20,560 visits/mo
0.3 miles
Wendy's
Dining
17,889 visits/mo
0.4 miles
Mobil
Shops & Services
12,694 visits/mo
0.3 miles
Key Food
Groceries
12,025 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
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Frequently Asked Questions
What type of property is this?
Storefront property - 1931 commercial space with existing hookups and a layout adaptable to restaurant, retail, or office operations.
Where is this storefront property located?
The property is located at 1221 Bay Street 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; Built in 1931; Existing hookups support restaurant‑related use
