Retail Building with Apartment
For Sale
Contact for pricing
Pending
1899/1903 Victory Boulevard, Staten Island, NY 10314
Commercial building with two separate storefronts and a second-floor 2-bedroom apartment on Victory Boulevard.
Property Size3,600 SF
Days on Market236
Property Features for 1899/1903 Victory Boulevard
General Information
Standard status
Pending
Size
3,600 SF
Property subtype
Business for Sale, Retail
Zoning
R3-1
Net Operating Income
$110,000
Additional Details
Multifamily Units
1
Building Details
Year Built
1931
Buildings
1
Listing Agency:
Wonica REALTORS & Appraisers
Listed By:
George Wonica · License #10311200971
(718) 984-1515
Source:
Crexi
Added: Jan 16
Changed: Aug 17
Last Checked: Aug 14 at 8:06AM
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 Wonica REALTORS & Appraisers
Investment Insights
Based on property information with market context.
1899/1903 Victory Boulevard is a multi-use commercial building featuring two separate storefront spaces with a second-floor 2-bedroom apartment. The property is arranged to support both street-level retail operations and residential occupancy above.
The building is located on a main thoroughfare and is described as being close to amenities and transportation, supporting day-to-day accessibility for storefront and residential use.
Please note: the business is not for sale. The offering is for the real estate.
The building is located on a main thoroughfare and is described as being close to amenities and transportation, supporting day-to-day accessibility for storefront and residential use.
Please note: the business is not for sale. The offering is for the real estate.
Key Highlights
- Commercial building (Year Built 1931) on Victory Boulevard at 1899/1903
- Two separate storefronts
- Second‑floor 2‑bedroom apartment
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
$69,174
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
3.84%
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%
$1,383,480
$1.4M
Cap Rate 7%
$988,200
$988.2K
Cap Rate 9%
$768,600
$768.6K
Market Conditions
NOI Build-Up for 3,600 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
$108.0K $30.00/SF
− Vacancy
−$9.2K −$2.55/SF
EGI
$98.8K $27.45/SF
− OpEx
−$29.6K −$8.24/SF
NOI
$69.2K $19.22/SF
Area
ZIP 10314
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%
$1,383,480
Cap Rate 7%
$988,200
Cap Rate 9%
$768,600
Alternative Uses
Best Use
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,241 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
163k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 33%
Groceries 10%
Home Improvements & Furnishings 4%
Starbucks
Dining
19,274 visits/mo
0.2 miles
BP
Shops & Services
17,152 visits/mo
0.2 miles
Burger King
Dining
16,775 visits/mo
0.1 miles
7-Eleven
Shops & Services
16,173 visits/mo
0.2 miles
Met Food
Groceries
15,870 visits/mo
0.3 miles
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Benicia Florist Same Day Delivery Inc — 1868 victory blvd, staten island, ny 10314
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with two separate storefronts and a second-floor 2-bedroom apartment on Victory Boulevard.
Where is this storefront property located?
The property is located at 1899/1903 Victory Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Commercial building (Year Built 1931) on Victory Boulevard at 1899/1903; Two separate storefronts; Second‑floor 2‑bedroom apartment
