Mixed-Use Building on Clove
For Sale
Contact for pricing
1874 Clove Road, Staten Island, NY 10304
Versatile mixed-use building with office spaces and apartments.
Property Size5,959 SF
Lot Size0.23 Acres
Price / SF$419.37
Days on Market187
Property Features for 1874 Clove Road
General Information
Standard status
Active
Size
5,959 SF
Lot size
0.23 Acres
Property subtype
Mixed Use
Zoning
R3-2
Building Details
Year Built
1960
Listing Agency:
Revolution Real Estate
(646) 582-6888
Listed By:
Salvatore Taormina · License #000000
Source:
Crexi
Added: Feb 15
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 Revolution Real Estate
Investment Insights
Based on property information with market context.
This mixed-use building is located on a 100x100 parcel. The property is zoned R3-2 with a C2-1 overlay, allowing for a combination of residential and commercial functions. It features two office spaces and four apartments. A car pad is located on Clove Road. There is also a two-car garage with direct access from Britton Street. The building has a total property size of 5959 square feet and offers functionality and accessibility for business and residential needs.
Key Highlights
- Mixed‑use building with R3‑2/C2‑1 zoning allows for residential and commercial use.
- Four apartments provide comfortable living accommodations.
- Two‑car garage with direct access from Britton Street offers secure parking.
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
$120,670
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
4.83%
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%
$2,413,400
$2.4M
Cap Rate 7%
$1,723,857
$1.7M
Cap Rate 9%
$1,340,778
$1.3M
Market Conditions
NOI Build-Up for 5,959 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
$214.5K $36.00/SF
− Vacancy
−$21.5K −$3.60/SF
EGI
$193.1K $32.40/SF
− OpEx
−$72.4K −$12.15/SF
NOI
$120.7K $20.25/SF
Area
ZIP 10304
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,413,400
Cap Rate 7%
$1,723,857
Cap Rate 9%
$1,340,778
Alternative Uses
Best Use
Mixed Use
$1.72M
$1.51M – $2.01M
NOI $120,670 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $199,032 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile mixed-use building with office spaces and apartments.
Where is this mixed-use property located?
The property is located at 1874 Clove Road Staten Island, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Mixed‑use building with R3‑2/C2‑1 zoning allows for residential and commercial use.; Four apartments provide comfortable living accommodations.; Two‑car garage with direct access from Britton Street offers secure parking.
