Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    70-72 Grove Ave Staten Island, NY 10302

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Pending
    $650,000

    Two-building mixed-use property with redevelopment potential and private parking.

    Lot size:
    0.10 Acres

    Property Features for 70-72 Grove Ave

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    0.10 Acres

    Building Details

    Year built
    1899

    We can help!

    Listing Contact
    Chris J. Calabrese
    Source: Elliman

    Listing Agent: Chris J. Calabrese

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

    Learn more

    Overview

    Mixed-Use Property with Private Parking

    This is a unique opportunity to purchase a two-building mixed-use property package located at 70-72 Grove Avenue. The property includes a one-story corner commercial building and a two-family house, along with private parking. The house features a spacious two-bedroom apartment on the first level. The second floor contains a two-bedroom duplex with additional attic space. Zoned R3A, the property offers flexible redevelopment or owner/user potential. All three units are individually metered with separate heating systems.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.136424
    Latitude
    40.638252

    Nearby Similar for Sale

    • New
      $998,888
      1,458 SF

      Staten Island Commercial Office Building

      Commercial building suitable for medical, dental, or general office use.
      4262 Richmond Ave, Staten Island, NY 10312
      View Details
    • $995,000
      1,500 SF

      Renovated Commercial Building Near Bay Street

      Fully renovated commercial building with high ceilings and great visibility.
      100 Canal St, Staten Island, NY 10304
      View Details
    • $850,000
      1,612 SF

      Versatile Staten Island Office Opportunity

      Adaptable office space or residential conversion potential in Staten Island.
      1562 Drumgoole Rd East, Staten Island, NY 10309
      View Details
    • $950,000
      0.13 Acres

      Staten Island Medical Office Building

      Medical office building with high visibility in prime location.
      3767 Richmond Ave, Staten Island, NY 10312
      View Details
    • $919,000
      2,900 SF

      Corner Commercial Building on Hylan

      Two-story commercial building with parking on a high-visibility corner.
      3990 Hylan Blvd, Staten Island, NY 10308
      View Details
    • $1,500,000
      2,880 SF

      Staten Island Commercial Building For Sale

      Two-story, 2,880 SF building ideal for various community or medical uses.
      343 Sand Ln, Staten Island, NY 10305
      View Details
    • $2,500,000
      5,000 SF

      Staten Island Commercial Building For Sale

      Standalone building with drive-through potential in a dense residential corridor.
      257 New Dorp Ln, Staten Island, NY 10306
      View Details
    • $999,000
      2,260 SF

      Medical/Office Building in Westerleigh

      Two professional suites in prime Staten Island location.
      2281 Victory Blvd, Staten Island, NY 10314
      View Details
    • New
      $2,968,848
      7,688 SF

      Prime Hylan Boulevard Office Building

      Class A office building with high visibility in Staten Island.
      2691 Hylan Blvd, Staten Island, NY 10306
      View Details
    • $2,888,888
      7,200 SF

      Versatile Two-Story Commercial Building

      Two-story building with over 7,000 SF of usable space.
      250 Buel Ave, Staten Island, NY 10305
      View Details
    • $325,000
      2,000 SF

      Established Deli/Grocery in Port Richmond

      Profitable deli/grocery business for sale in a prime location.
      192 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • $2,399,000
      4,648 SF

      Staten Island Commercial Investment Opportunity

      Versatile property suitable for preschool, medical office, or professional services.
      610 Bloomingdale Rd, Staten Island, NY 10309
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-building mixed-use property with redevelopment potential and private parking.
    Where is this mixed-use property located?
    The property is located at 70-72 Grove Ave Staten Island, NY.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Mixed-use property featuring both commercial and residential buildings.; - Private parking included.; - Flexible redevelopment potential due to R3A zoning.
    (718) 612-4699
    Request Owner's contact information
    70-72 Grove Ave Staten Island, NY 10302
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    70-72 Grove Ave
    Staten Island, NY 10302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    70-72 Grove Ave Staten Island, NY 10302
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chris J. Calabrese
    (718) 612-4699 (646) 392-7038
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!