Two-Story Mixed-Use
For Sale
$725,000
129 Port Richmond Ave, Staten Island, NY 10302
Vacant commercial and residential spaces provide a flexible starting point for updates and customized layouts.
Property Size3,200 SF
Lot Size0.04 Acres
Price / SF$226.56
Days on Market55
Property Features for 129 Port Richmond Ave
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.04 Acres
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
ready for immediate updates
Site & Location
Frontage
16 ft
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Building Details
Year Built
1931
Buildings
1
Stories
2
Construction
brick/frame
Listing Agency:
Momentum Real Estate, LLC
(718) 382-0001
Listed By:
Thomas Leong
Source:
Searchhomesinlongisland
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 30 at 6:09PM
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.
Built in 1931, this two-story mixed-use property combines a ground-level storefront with a residential dwelling on the floor above. The brick and frame structure is vacant, and both spaces have been cleared for renovation or interior reconfiguration. The building measures 16 ft × 100 ft, while the lot measures 16 ft × 109 ft. It is offered strictly as-is.
The property fronts Port Richmond Avenue in Staten Island’s Port Richmond community, with neighborhood foot traffic and established commercial businesses nearby. Transit access includes the S57, S59, and S99 bus lines along the avenue, while Richmond Terrace and the Bayonne Bridge are also close by. The address is 129 Port Richmond Ave, Staten Island, NY 10302.
The property fronts Port Richmond Avenue in Staten Island’s Port Richmond community, with neighborhood foot traffic and established commercial businesses nearby. Transit access includes the S57, S59, and S99 bus lines along the avenue, while Richmond Terrace and the Bayonne Bridge are also close by. The address is 129 Port Richmond Ave, Staten Island, NY 10302.
Key Highlights
- 2‑story mixed‑use building with a ground‑floor storefront and upper residential dwelling
- 16 ft × 100 ft building footprint on a 16 ft × 109 ft lot
- Vacant property with both spaces cleared for renovation
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
$63,360
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
8.74%
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%
$1,267,200
$1.3M
Cap Rate 7%
$905,143
$905.1K
Cap Rate 9%
$704,000
$704.0K
Market Conditions
NOI Build-Up for 3,200 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
$115.2K $36.00/SF
− Vacancy
−$13.8K −$4.32/SF
EGI
$101.4K $31.68/SF
− OpEx
−$38.0K −$11.88/SF
NOI
$63.4K $19.80/SF
Area
Staten Island, NY
Vacancy
12.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,267,200
Cap Rate 7%
$905,143
Cap Rate 9%
$704,000
Alternative Uses
Best Use
Retail
$983.8K
$860.8K – $1.15M
NOI $68,867 @ 7.0% cap · market cap 9.50%
Second Best
Mixed Use
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,881 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,314
Businesses Nearby
41k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Groceries 27%
Electronics 5%
Hotels & Casinos 3%
Mobil
Shops & Services
15,733 visits/mo
0.4 miles
Key Food
Groceries
11,136 visits/mo
0.3 miles
Clean Rite Center
Shops & Services
6,366 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
1,932 visits/mo
0.3 miles
Days Inn
Hotels & Casinos
1,284 visits/mo
0.2 miles
Demographics for 10302, NY
20,931
Population
6,927
Households
3
Avg Household Size
35
Median Age
29%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
17,443
Density / Sq Mi
$76,089
Median Household Income
$43,608
Median Earnings
$1,800
Median Rent
$586,300
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?
Mixed-use property - Vacant commercial and residential spaces provide a flexible starting point for updates and customized layouts.
Where is this mixed-use property located?
The property is located at 129 Port Richmond Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2‑story mixed‑use building with a ground‑floor storefront and upper residential dwelling; 16 ft × 100 ft building footprint on a 16 ft × 109 ft lot; Vacant property with both spaces cleared for renovation
