New Flex Space With Warehouse And
For Sale
$2,200,000
16 CONCORD PL, Staten Island, NY 10304
New construction combines a high-clearance work area with contemporary second-floor offices.
Property Size4,227 SF
Price / SF$520.46
Days on Market372
Property Features for 16 CONCORD PL
General Information
Standard status
Active
Size
4,227 SF
Property subtype
Office
Amenities
3
4 Parking Spaces.
Building Details
Year Built
2025
Listing Agency:
MYNY Residential
(718) 200-6658
Listed By:
Yin Koh
(718) 200-6658
Source:
Xome
Added: Aug 25, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:02PM
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 MYNY Residential
Investment Insights
Based on property information with market context.
Completed in 2025, this flex space combines a warehouse level with a modern second-floor office component. The warehouse includes a 16-foot ceiling, a 14-foot automatic roll-up door, a second 14-foot front security gate, heat, a washroom and bathroom, essential utilities, and a 3-phase electric system. Front parking accommodates four vehicles.
The office floor provides two private manager offices, open workspace, a conference or meeting room, bathroom, eat-in pantry, and a private terrace with views of the Verrazzano Bridge. The property is located at 16 Concord Pl in Staten Island’s Grymes Hill area, with immediate access to the 278 Expressway and commuting routes toward Manhattan, Brooklyn, and New Jersey.
The office floor provides two private manager offices, open workspace, a conference or meeting room, bathroom, eat-in pantry, and a private terrace with views of the Verrazzano Bridge. The property is located at 16 Concord Pl in Staten Island’s Grymes Hill area, with immediate access to the 278 Expressway and commuting routes toward Manhattan, Brooklyn, and New Jersey.
Key Highlights
- 4,227 property size with warehouse and second‑floor office configuration
- 16‑foot warehouse ceiling and 14‑foot automatic roll‑up door
- Additional 14‑foot front security gate
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
$119,092
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
5.41%
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%
$2,381,840
$2.4M
Cap Rate 7%
$1,701,314
$1.7M
Cap Rate 9%
$1,323,244
$1.3M
Market Conditions
NOI Build-Up for 4,227 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
$195.8K $46.32/SF
− Vacancy
−$37.0K −$8.75/SF
EGI
$158.8K $37.57/SF
− OpEx
−$39.7K −$9.39/SF
NOI
$119.1K $28.17/SF
Area
ZIP 10304
Vacancy
18.90%
Lease Rate
$46.32 /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%
$2,381,840
Cap Rate 7%
$1,701,314
Cap Rate 9%
$1,323,244
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $119,092 @ 7.0% cap · market cap 5.41%
Second Best
Warehouse
$936.2K
$819.2K – $1.09M
NOI $65,535 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,183 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New construction combines a high-clearance work area with contemporary second-floor offices.
Where is this flex space located?
The property is located at 16 CONCORD PL Staten Island, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4,227 property size with warehouse and second‑floor office configuration; 16‑foot warehouse ceiling and 14‑foot automatic roll‑up door; Additional 14‑foot front security gate
