Industrial Flex Property with
New
For Sale
$850,000
1947-1949 Richmond Terrace, Staten Island, NY 10301
Commercial Sale, Staten Island, NY
Property Size3,237 SF
Lot Size0.14 Acres
Price / SF$262.59
Days on Market4
Property Features for 1947-1949 Richmond Terrace
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
St. George
High school district
000000
Standard status
Active
Size
3,237 SF
Lot size
0.14 Acres
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Joe Tirone
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 6 at 11:06PM
MLS# 11964657
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property comprises three buildings totaling approximately 3,237 square feet on a 5,940 SF lot. The improvements include two warehouse structures with overhead doors and a separate front office building with a restroom. A gated open yard adds space for parking, storage, or staging.
The property fronts Richmond Terrace with 60 feet of frontage in Staten Island’s Port Richmond industrial corridor. Richmond Terrace serves as an east-west truck route along the Kill Van Kull. The site is minutes from the Bayonne Bridge and NY-440/Martin Luther King Jr. Expressway, approximately three and a half miles from the Goethals Bridge and the New Jersey Turnpike, with access to the surrounding port and terminal infrastructure.
The property fronts Richmond Terrace with 60 feet of frontage in Staten Island’s Port Richmond industrial corridor. Richmond Terrace serves as an east-west truck route along the Kill Van Kull. The site is minutes from the Bayonne Bridge and NY-440/Martin Luther King Jr. Expressway, approximately three and a half miles from the Goethals Bridge and the New Jersey Turnpike, with access to the surrounding port and terminal infrastructure.
Key Highlights
- Approximately 3,237 square feet across three buildings
- 5,940 SF lot with 60 feet of frontage on Richmond Terrace
- Two warehouses with overhead doors
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
$68,643
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
8.08%
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%
$1,372,860
$1.4M
Cap Rate 7%
$980,614
$980.6K
Cap Rate 9%
$762,700
$762.7K
Market Conditions
NOI Build-Up for 3,237 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
$85.5K $26.40/SF
− Vacancy
−$4.7K −$1.45/SF
EGI
$80.8K $24.95/SF
− OpEx
−$12.1K −$3.74/SF
NOI
$68.6K $21.21/SF
Area
Staten Island, NY
Vacancy
5.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
15.00%
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%
$1,372,860
Cap Rate 7%
$980,614
Cap Rate 9%
$762,700
Alternative Uses
Best Use
Warehouse
$980.6K
$858.0K – $1.14M
NOI $68,643 @ 7.0% cap · market cap 8.08%
Second Best
Flex RnD
$796.4K
$696.9K – $929.2K
NOI $55,749 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,117 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10301, NY
41,474
Population
16,631
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
10,914
Density / Sq Mi
$84,937
Median Household Income
$50,140
Median Earnings
$1,697
Median Rent
$657,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Three-building configuration combines warehouse space, a front office, overhead doors, and a gated outdoor area.
Where is this flex space located?
The property is located at 1947-1949 Richmond Terrace Staten Island, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approximately 3,237 square feet across three buildings; 5,940 SF lot with 60 feet of frontage on Richmond Terrace; Two warehouses with overhead doors
