Seven-Space Storefront Retail
For Sale
Contact for pricing
1572-82 Richmond Road, Staten Island, NY 10304
Corner retail property with occupied storefronts, a rear building, and full-height basement areas.
Property Size7,888 SF
Price / SF$380.32
Days on Market510
Property Features for 1572-82 Richmond Road
General Information
Standard status
Active
Size
7,888 SF
Property subtype
Business for Sale, Retail
Zoning
R3-1
Additional Details
Corner Location
Yes
Building Details
Year Built
1966
Buildings
6
Tenancy
Multi
Listing Agency:
PreReal Prendamano Real Estate
(718) 816-7799
Listed By:
Robert Nixon · License #10401253010
Source:
Crexi
Added: Apr 9, 2025
Changed: Aug 29
Last Checked: Aug 31 at 3:04AM
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 PreReal Prendamano Real Estate
Investment Insights
Based on property information with market context.
This storefront retail property contains 7,888 square feet and seven retail spaces, including six storefronts that are currently occupied. A separate rear building is available for immediate occupancy, while full-height basement areas provide additional space that is not currently in use. The property was built in 1966 and carries R3-1 zoning.
Positioned at the Richmond Road and Seaview Avenue intersection, the property is also near Four Corners Road and multiple bus stops. The Staten Island Train is a short distance away. Nearby commercial operators include Santander Bank, Max's Esca, M&T Bank, Baci Restaurant, and other local and national retailers.
Positioned at the Richmond Road and Seaview Avenue intersection, the property is also near Four Corners Road and multiple bus stops. The Staten Island Train is a short distance away. Nearby commercial operators include Santander Bank, Max's Esca, M&T Bank, Baci Restaurant, and other local and national retailers.
Key Highlights
- 7,888‑square‑foot storefront retail property with seven retail spaces
- Six of seven storefronts are fully occupied
- Separate rear building ready for immediate occupancy
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
$151,568
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
5.05%
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%
$3,031,360
$3.0M
Cap Rate 7%
$2,165,257
$2.2M
Cap Rate 9%
$1,684,089
$1.7M
Market Conditions
NOI Build-Up for 7,888 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
$236.6K $30.00/SF
− Vacancy
−$20.1K −$2.55/SF
EGI
$216.5K $27.45/SF
− OpEx
−$65.0K −$8.24/SF
NOI
$151.6K $19.22/SF
Area
ZIP 10304
Vacancy
8.50%
Lease Rate
$30.00 /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%
$3,031,360
Cap Rate 7%
$2,165,257
Cap Rate 9%
$1,684,089
Alternative Uses
Best Use
Retail
$2.17M
$1.89M – $2.53M
NOI $151,568 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,461 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 24%
Starbucks
Dining
18,237 visits/mo
0.3 miles
Santander Bank
Shops & Services
3,507 visits/mo
0.0 miles
M&T Bank
Shops & Services
2,396 visits/mo
0.1 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?
Storefront property - Corner retail property with occupied storefronts, a rear building, and full-height basement areas.
Where is this storefront property located?
The property is located at 1572-82 Richmond Road Staten Island, NY.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: 7,888‑square‑foot storefront retail property with seven retail spaces; Six of seven storefronts are fully occupied; Separate rear building ready for immediate occupancy
