Building Details

Year built 1980

Number of units 1

Building materials Wood Frame

Listing Agency: ProBase Real Estate

Listed By: JiaJie (Kai) Zheng Show Phone

Added: Oct 22 Last Checked: Oct 24 at 3:06AM

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MLS# 505414

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Investment Insights

Based on property information with market context.

Built in 1980, this two-level medical office property contains 2,990 square feet, with eight private offices distributed across the building. The first floor has four offices, three bathrooms, two patient waiting areas and a staff kitchenette. A separate utility room is located in the basement, and the building has central air conditioning. The property sits on a 0.1308-acre lot with an approximately 23-by-65-foot building footprint.

The building is on Clove Road in Staten Island, near local bus service, major Staten Island roadways, medical practices and neighborhood services. It is zoned R3X.

Key Highlights

• Eight private offices across two levels
• 2,990 square feet in a building constructed in 1980
• First floor includes four offices, three bathrooms and two patient waiting areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,459

Cap Rate

8.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,369,180 $1.4M

Cap Rate 7%

$977,986 $978.0K

Cap Rate 9%

$760,656 $760.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,990 SF

Gross rent

$114.8K $38.40/SF

− Vacancy

−$23.5K −$7.87/SF

EGI

$91.3K $30.53/SF

− OpEx

−$22.8K −$7.63/SF

NOI

$68.5K $22.90/SF

Area

Staten Island, NY

Vacancy

20.50%

Lease Rate

$38.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,369,180

Cap Rate 7%

$977,986

Cap Rate 9%

$760,656

Alternative Uses

Best Use

Office B

$978.0K

$855.7K – $1.14M (±1% cap)

NOI $68,459 @ 7.0% cap · market cap 8.05%

Second Best

Healthcare Medical

$913.4K

$799.2K – $1.07M (±1% cap)

NOI $63,938 @ 7.0% cap · market cap 7.52%

Theoretical Best

Office A

$1.43M

$1.25M – $1.66M (±1% cap)

NOI $99,867 @ 7.0% cap · market cap 11.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Idowu Joel a MD Physician Dr. Nighat Y. ... Physician Dr. Kyi K. ... Physician Lee Chol MD Physician No More Fear Of Physician

Suggested Use

Top Pick Real Estate Agency Restaurant Hair Salon Spa & Massage Center Parking Lot & Garage Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

961

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 10301, NY

41,474

Population

16,631

Households

2.5

Avg Household Size

40

Median Age

38%

College-Educated

88%

High-School Grad

3.8 sq mi

ZIP Area

10,914

Density / Sq Mi

$84,937

Median Household Income

$50,140

Median Earnings

$1,697

Median Rent

$657,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Central air conditioning and a multi-office layout support medical and other professional operations.

Where is this medical office space located?

The property is located at 1430 Clove Road Staten Island, NY.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Eight private offices across two levels; 2,990 square feet in a building constructed in 1980; First floor includes four offices, three bathrooms and two patient waiting areas