Two-Storefront Retail
For Sale
Contact for pricing
1406 Forest Avenue, Staten Island, NY 10302
Street-level commercial space with two existing businesses, C4-1 zoning, and a rear yard.
Property Size1,500 SF
Price / SF$666
Days on Market53
Property Features for 1406 Forest Avenue
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Retail
Zoning
C4-1
Net Operating Income
$54,421
Building Details
Year Built
1960
Buildings
2
Units
2
Listing Agency:
Molcho Realty Group
(732) 289-3900
Listed By:
Maurice Molcho · License #10301216355
Source:
Crexi
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 4:08AM
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 Molcho Realty Group
Investment Insights
Based on property information with market context.
This 1960 retail property contains two street-level storefronts with approximately 1,500 square feet of combined interior space. The spaces are occupied by a barber shop and a nail salon, providing an established commercial configuration. A rear yard adds functional outdoor area to the property, while the 25' x 117' lot offers additional site depth.
Located at 1406 Forest Avenue in Staten Island, the property sits along a commercial corridor with pedestrian and vehicle activity. The surrounding area includes retailers, restaurants, neighborhood services, public transportation, and major roadways. C4-1 zoning and the existing storefront layout support continued commercial use.
Located at 1406 Forest Avenue in Staten Island, the property sits along a commercial corridor with pedestrian and vehicle activity. The surrounding area includes retailers, restaurants, neighborhood services, public transportation, and major roadways. C4-1 zoning and the existing storefront layout support continued commercial use.
Key Highlights
- Two street‑level storefronts totaling approximately 1,500 square feet
- Currently occupied by a barber shop and nail salon
- C4‑1 zoning
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
$32,281
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
3.23%
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%
$645,620
$645.6K
Cap Rate 7%
$461,157
$461.2K
Cap Rate 9%
$358,678
$358.7K
Market Conditions
NOI Build-Up for 1,500 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
$50.4K $33.60/SF
− Vacancy
−$4.3K −$2.86/SF
EGI
$46.1K $30.74/SF
− OpEx
−$13.8K −$9.22/SF
NOI
$32.3K $21.52/SF
Area
Staten Island, NY
Vacancy
8.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
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%
$645,620
Cap Rate 7%
$461,157
Cap Rate 9%
$358,678
Alternative Uses
Best Use
Retail
$461.2K
$403.5K – $538.0K
NOI $32,281 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$715.7K
$626.3K – $835.0K
NOI $50,100 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
434k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Superstores 19%
Dining 13%
Groceries 13%
Target
Superstores
82,066 visits/mo
0.2 miles
Stop & Shop
Groceries
56,113 visits/mo
0.1 miles
Five Below
Shops & Services
33,894 visits/mo
0.1 miles
PetSmart
Shops & Services
25,715 visits/mo
0.2 miles
Michaels
Shops & Services
22,057 visits/mo
0.1 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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Similar Off Market Nearby
- Victor Scalici Florist — 523 Port Richmond Ave, Staten Island, NY 10302
Frequently Asked Questions
What type of property is this?
Storefront property - Street-level commercial space with two existing businesses, C4-1 zoning, and a rear yard.
Where is this storefront property located?
The property is located at 1406 Forest Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two street‑level storefronts totaling approximately 1,500 square feet; Currently occupied by a barber shop and nail salon; C4‑1 zoning
