Five-Unit Strip
For Sale
Contact for pricing
1686 Forest Avenue, Staten Island, NY 10302
Multi-tenant retail property with on-site parking and direct Forest Avenue exposure.
Property Size5,978 SF
Price / SF$668.95
Days on Market410
Property Features for 1686 Forest Avenue
General Information
Standard status
Active
Size
5,978 SF
Total Parking Spaces
20
Property subtype
Business for Sale, Retail
Zoning
R3-2
Building Details
Year Built
1932
Buildings
1
Tenancy
Multi
Listing Agency:
Robert Defalco Realty
(347) 831-8972
Listed By:
Andrew Porazzo · License #10401332054
Source:
Crexi
Added: Jul 18, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:43PM
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 Robert Defalco Realty
Investment Insights
Based on property information with market context.
This strip mall contains five commercial units within a 5,978-square-foot building constructed in 1932. All five units are occupied by established tenants, providing an existing multi-tenant configuration. The property also includes on-site parking and sits on an oversized lot.
Located at 1686 Forest Avenue in Staten Island, the property offers direct exposure to Forest Avenue, with access to an expressway and multiple major transit options. The building’s exterior is described as clean and maintenance-free, supporting a straightforward commercial setup for an owner or investor. Zoning is designated R3-2.
Located at 1686 Forest Avenue in Staten Island, the property offers direct exposure to Forest Avenue, with access to an expressway and multiple major transit options. The building’s exterior is described as clean and maintenance-free, supporting a straightforward commercial setup for an owner or investor. Zoning is designated R3-2.
Key Highlights
- 5,978 SF strip mall building
- Five commercial units, all occupied
- Constructed in 1932
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
$128,651
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
3.22%
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%
$2,573,020
$2.6M
Cap Rate 7%
$1,837,871
$1.8M
Cap Rate 9%
$1,429,456
$1.4M
Market Conditions
NOI Build-Up for 5,978 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
$200.9K $33.60/SF
− Vacancy
−$17.1K −$2.86/SF
EGI
$183.8K $30.74/SF
− OpEx
−$55.1K −$9.22/SF
NOI
$128.7K $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%
$2,573,020
Cap Rate 7%
$1,837,871
Cap Rate 9%
$1,429,456
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.14M
NOI $128,651 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,667 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
333k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 37%
Dining 34%
Shops & Services 22%
Electronics 5%
ShopRite
Groceries
85,100 visits/mo
0.2 miles
Wendy's
Dining
40,221 visits/mo
0.1 miles
Western Beef
Groceries
39,567 visits/mo
0.5 miles
Dollar Tree
Shops & Services
20,998 visits/mo
0.4 miles
McDonald's
Dining
18,568 visits/mo
0.0 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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Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail property with on-site parking and direct Forest Avenue exposure.
Where is this strip mall located?
The property is located at 1686 Forest Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: 5,978 SF strip mall building; Five commercial units, all occupied; Constructed in 1932
