Mixed-Use Property with Commercial
For Sale
$1,350,000
1299 Richmond Road, Staten Island, NY 10304
Maintained building combining a commercial component with residential apartments and upgraded unit features.
Property Size2,100 SF
Days on Market64
Property Features for 1299 Richmond Road
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial Mixed Use
Zoning
R1-2
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
nine-camera security system
Building Details
Building Size
2,100 SF
Year Built
1910
Stories
3
Listing Agency:
Re/Max Edge
(718) 612-3088
Listed By:
Kathleen A. Garbarino
(718) 612-3088
Source:
Michaelfraulo
Added: Jun 26
Changed: Aug 28
Last Checked: Aug 28 at 7:15AM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
Located at 1299 Richmond Road in Staten Island’s Dongan Hills, this mixed-use property was built in 1910 and contains three units: one active commercial space and two residential apartments. The second-floor apartment includes a washer and dryer, refrigerator, stove, microwave, dishwasher, and through-wall air conditioning. The third-floor apartment has dedicated heating and cooling, a refrigerator, and an oven.
Property improvements include newer asphalt and flat roofs, a finished attic, and a nine-camera security system. The R1-2 zoning designation and combination of commercial and residential occupancy define the property’s current mixed-use configuration along Richmond Road.
Property improvements include newer asphalt and flat roofs, a finished attic, and a nine-camera security system. The R1-2 zoning designation and combination of commercial and residential occupancy define the property’s current mixed-use configuration along Richmond Road.
Key Highlights
- Three total units: one active commercial space and two residential apartments
- R1‑2 zoning designation
- Second‑floor apartment includes in‑unit washer and dryer plus full appliance package
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
$47,557
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
3.52%
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%
$951,140
$951.1K
Cap Rate 7%
$679,386
$679.4K
Cap Rate 9%
$528,411
$528.4K
Market Conditions
NOI Build-Up for 2,100 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
$94.5K $45.00/SF
− Vacancy
−$8.0K −$3.83/SF
EGI
$86.5K $41.18/SF
− OpEx
−$38.9K −$18.53/SF
NOI
$47.6K $22.65/SF
Area
ZIP 10304
Vacancy
8.50%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
45.00%
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%
$951,140
Cap Rate 7%
$679,386
Cap Rate 9%
$528,411
Alternative Uses
Best Use
Apartment 5plus
$679.4K
$594.5K – $792.6K
NOI $47,557 @ 7.0% cap · market cap 3.52%
Second Best
Mixed Use
$607.5K
$531.6K – $708.8K
NOI $42,525 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.00M
$876.8K – $1.17M
NOI $70,140 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
8,137 visits/mo
0.4 miles
Santander Bank
Shops & Services
3,507 visits/mo
0.4 miles
M&T Bank
Shops & Services
2,396 visits/mo
0.5 miles
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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 - Maintained building combining a commercial component with residential apartments and upgraded unit features.
Where is this mixed-use property located?
The property is located at 1299 Richmond Road Staten Island, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three total units: one active commercial space and two residential apartments; R1‑2 zoning designation; Second‑floor apartment includes in‑unit washer and dryer plus full appliance package
