Building Details

Year Built 2000

Buildings 2

Units 4

Tenancy Multi

Listing Agency: Gillani Homes Inc.

Listed By: Mary Faulds Show Phone

Source: Crexi

Added: Apr 24 Changed: Oct 9 Last Checked: Oct 14 at 10:12PM

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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 Gillani Homes Inc.

Investment Insights

Based on property information with market context.

This mixed-use property includes two commercial buildings containing four units across 5,700 square feet. Constructed in 2000, the property is zoned C1-1 and includes an existing barber shop tenant in one unit.

The asset is located at 1855-1857 Forest Avenue in Staten Island, New York 10303. Its two-building layout and four-unit configuration provide a defined commercial property format for ownership or occupancy considerations.

Key Highlights

• Two commercial buildings totaling 5,700 square feet
• Four commercial units across the property
• One unit is occupied by a barber shop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$122,669

Cap Rate

6.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,453,380 $2.5M

Cap Rate 7%

$1,752,414 $1.8M

Cap Rate 9%

$1,362,989 $1.4M

Market Conditions

NOI Build-Up for 5,700 SF

Gross rent

$191.5K $33.60/SF

− Vacancy

−$16.3K −$2.86/SF

EGI

$175.2K $30.74/SF

− OpEx

−$52.6K −$9.22/SF

NOI

$122.7K $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 Rate 5%

$2,453,380

Cap Rate 7%

$1,752,414

Cap Rate 9%

$1,362,989

Alternative Uses

Best Use

Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,669 @ 7.0% cap · market cap 6.20%

Second Best

Mixed Use

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,860 @ 7.0% cap · market cap 5.70%

Theoretical Best

Office A

$2.72M

$2.38M – $3.17M (±1% cap)

NOI $190,381 @ 7.0% cap · market cap 9.62%

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

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Computer & Electronic Repair Spa & Massage Center Home Appliance Store

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,051

Businesses Nearby

331k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 38% Dining 34% Shops & Services 21% Electronics 5%

ShopRite Groceries

85,100 visits/mo 0.3 miles

Wendy's Dining

40,221 visits/mo 0.3 miles

Western Beef Groceries

39,567 visits/mo 0.3 miles

Dollar Tree Shops & Services

20,998 visits/mo 0.2 miles

McDonald's Dining

18,568 visits/mo 0.1 miles

Demographics for 10303, NY

28,155

Population

9,580

Households

2.9

Avg Household Size

34

Median Age

30%

College-Educated

83%

High-School Grad

3.2 sq mi

ZIP Area

8,798

Density / Sq Mi

$79,429

Median Household Income

$49,072

Median Earnings

$1,520

Median Rent

$457,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two commercial buildings offer a multi-unit configuration with an existing barber shop tenancy.

Where is this mixed-use property located?

The property is located at 1855-1857 Forest Avenue Staten Island, NY.

What is the asking price?

The asking price for this property is $1,980,000.

What are key features of this property?

This property features: Two commercial buildings totaling 5,700 square feet; Four commercial units across the property; One unit is occupied by a barber shop