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    Staten Island Shopping Center For Sale Title is generated by Realmo AI

    1267 Forest Ave, Staten Island, NY

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    Fully occupied shopping center in Staten Island's Elm Park.

    Type:RETAIL
    Property size:
    27,663 SF
    Lot size:
    0.88 Acres
    Price / SF:
    $359/SF
    Added:
    Mar 27, 2025
    Days on Market:
    440
    Last Refresh:
    May 20 at 8:01 pm

    Property Features for 1267 Forest Ave

    General Information

    Standard status
    Active
    Size
    27,663 SF
    Lot size
    0.88 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Raymond Mordekhai
    Raymond Mordekhai

    Listing agent Raymond Mordekhai

    Listing office Forest Park Properties

    Listing date Mar 27, 2025

    Source Moodyscre

    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 Forest Park Properties

    HighLights

    • High Net Operating Income: Enjoy ~$690,000.00 annually.
    • 100% Occupied Shopping Center with a diverse tenant mix.
    • Prime Location: Situated on a signalized corner, neighboring Walgreens, 7‑Eleven, and a Shell gas station.
    • Strong Tenant Retention: Benefit from a very low turnover rate.
    • Value‑Add Potential: Rents are currently at or below market value.
    • Modern Construction: Built in 2006 with 27663 SF over three levels.

    Overview

    This fully occupied shopping center is located in the Elm Park section of Staten Island, at the signalized corner of Forrest Avenue and Jewett Avenue, neighboring a Walgreens, 7-Eleven, and a Shell gas station. Constructed in 2006, the property encompasses 27663 square feet across three levels. The ground floor features approximately 9500 square feet of retail space divided into 8 units, with front parking available. The second floor offers around 9500 square feet of retail and office space, comprising 6 units. The lower level contains approximately 8000 square feet of office space, consisting of 2 units of legal office space. The tenant mix includes food services, retail businesses, and other service providers. The property demonstrates a high rate of tenant retention with very low turnover. Current rents are at or below market rates, presenting opportunities for value enhancement. The gross income is approximately $890,000.00, with a net income of approximately $690,000.00.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $929.5k $33.60
    − Vacancy −$79.0k −$2.86
    EGI $850.5k $30.74
    − OpEx −$255.1k −$9.22
    NOI $595.3k $21.52
    27,663 SF · lease $33.60/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $8.50M
    $7.44M – $9.92M (±1% cap)
    NOI $595,330 @ 7.0% cap · market cap 5.98%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $13.20M
    $11.55M – $15.40M (±1% cap)
    NOI $923,950 @ 7.0% cap · market cap 9.29%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Silicone Bong Department Store Verizon Mobile Phone Store SkyCare Rx Pharmacy Pharmacy Nail It Up Nail Salon LibertyX Bitcoin ATM Atm

    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.

    Similar Places Nearby

    • Wheels of Fun — 41 John St, Staten Island, NY 10302
    • Forest Avenue Plaza — 1520 Forest Ave, Staten Island, NY 10302
    • S I B/S — 1351 Forest Ave, Staten Island, NY 10302
    • Forest Avenue S.C. — 1509 Forest Ave, Staten Island, NY 10302
    • Forest Avenue Shoppers Town — 1481 Forest Ave, Staten Island, NY 10302

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.1318
    Latitude
    40.6266

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    FAQs

    What type of property is this?
    Shopping center - Fully occupied shopping center in Staten Island's Elm Park.
    Where is this shopping center located?
    The property is located at 1267 Forest Ave Staten Island, NY.
    What is the asking price?
    The asking price for this property is $9,950,000.
    What are key features of this property?
    This property features: High Net Operating Income: Enjoy ~$690,000.00 annually.; 100% Occupied Shopping Center with a diverse tenant mix.; Prime Location: Situated on a signalized corner, neighboring Walgreens, 7‑Eleven, and a Shell gas station.
    (516) 410-9926 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Raymond Mordekhai
    Raymond Mordekhai
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