Versatile Staten Island Commercial
For Sale
$699,000
1562 Drumgoole Rd E, Staten Island, NY 10309
Detached building suitable for medical, educational, or residential use.
Property Size1,612 SF
Price / SF$433.62
Days on Market125
Property Features for 1562 Drumgoole Rd E
General Information
Standard status
Active
Size
1,612 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,412
Building Details
Building Size
1,612 SF
Year Built
2007
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Jason Zhou
(718) 612-3088
Source:
Elliman
Added: Apr 24
Changed: Aug 24
Last Checked: Aug 25 at 10:10AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This detached building, currently configured as a dental office for approximately 15 years, offers flexibility for end users or investors. The property is located in an R3X zoning district, presenting the potential to be converted back into a residential home. The building has a Community Facility Certificate of Occupancy. The first floor includes a reception area, 3 treatment/office rooms, and a half bathroom. The lower level features 3 additional rooms and a 3/4 bathroom, plus a stand-up attic for extra storage. The building measures approximately 1,612 square feet. Permitted uses under the existing Community Facility C/O may include schools or daycare centers, educational facilities, medical offices, clinics, physical therapy practices, houses of worship, nonprofit offices, hospitals or nursing homes, cultural institutions, libraries, and social service agencies. The bike score is 50, indicating it is bikeable. The walk score is 70, indicating it is very walkable. The transit score is 49, indicating some transit options are available.
Key Highlights
- Established Community Facility with existing dental office (15 years) and Certificate of Occupancy.
- R3X zoning allows for potential conversion back to a residential home.
- 1,612 sq ft building with flexible layout: reception area, 3 treatment/office rooms, half bath on the first floor; 3 rooms and a 3/4 bath in the lower level.
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
$36,908
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
5.28%
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%
$738,160
$738.2K
Cap Rate 7%
$527,257
$527.3K
Cap Rate 9%
$410,089
$410.1K
Market Conditions
NOI Build-Up for 1,612 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
$61.9K $38.40/SF
− Vacancy
−$12.7K −$7.87/SF
EGI
$49.2K $30.53/SF
− OpEx
−$12.3K −$7.63/SF
NOI
$36.9K $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 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%
$738,160
Cap Rate 7%
$527,257
Cap Rate 9%
$410,089
Alternative Uses
Best Use
Office B
$527.3K
$461.4K – $615.1K
NOI $36,908 @ 7.0% cap · market cap 5.28%
Second Best
Healthcare Medical
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$769.2K
$673.0K – $897.4K
NOI $53,841 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Detached building suitable for medical, educational, or residential use.
Where is this medical office space located?
The property is located at 1562 Drumgoole Rd E Staten Island, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Established Community Facility with existing dental office (15 years) and Certificate of Occupancy.; R3X zoning allows for potential conversion back to a residential home.; 1,612 sq ft building with flexible layout: reception area, 3 treatment/office rooms, half bath on the first floor; 3 rooms and a 3/4 bath in the lower level.
