New Mixed-Use
For Sale
Contact for pricing
217 Main Street, Staten Island, NY 10307
Completed in 2024 with residential and commercial components across three tax lots.
Property Size21,379 SF
Price / SF$467.75
Days on Market8
Property Features for 217 Main Street
General Information
Standard status
Active
Size
21,379 SF
Property subtype
Retail, Multifamily, Mixed Use
Occupancy
100%
Financials
Asking Price
$10,000,000
Cap Rate
5%
Additional Details
Multifamily Units
11
Building Details
Year Built
2024
Buildings
1
Units
14
Tenancy
Multi
Listing Agency:
RJM Realty Empire
Listed By:
Melsa Skrapalliu · License #NY
Source:
Crexi
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 12 at 11:40AM
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 RJM Realty Empire
Investment Insights
Based on property information with market context.
Located at 217 Main Street in Staten Island, this 21,379 SF mixed-use property was completed in 2024. The asset contains 14 total units, including 11 residential rentals and three commercial units, and is described as fully leased.
The residential component occupies the first and second floors and includes 11 units with 22 bedrooms and 11 baths across 12,428 SF. Commercial space is distributed between two first-floor configurations: one 7,039 SF unit and two additional units totaling 1,912 SF. The property is arranged across three tax lots and includes a 5.00% cap rate.
The residential component occupies the first and second floors and includes 11 units with 22 bedrooms and 11 baths across 12,428 SF. Commercial space is distributed between two first-floor configurations: one 7,039 SF unit and two additional units totaling 1,912 SF. The property is arranged across three tax lots and includes a 5.00% cap rate.
Key Highlights
- 21,379 SF mixed‑use property completed in 2024
- 14 total units: 11 residential and 3 commercial
- Residential component includes 11 units, 22 bedrooms, and 11 baths
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
$474,101
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
4.74%
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%
$9,482,020
$9.5M
Cap Rate 7%
$6,772,871
$6.8M
Cap Rate 9%
$5,267,789
$5.3M
Market Conditions
NOI Build-Up for 21,379 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
$897.9K $42.00/SF
− Vacancy
−$35.9K −$1.68/SF
EGI
$862.0K $40.32/SF
− OpEx
−$387.9K −$18.14/SF
NOI
$474.1K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
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%
$9,482,020
Cap Rate 7%
$6,772,871
Cap Rate 9%
$5,267,789
Alternative Uses
Best Use
Apartment 5plus
$6.77M
$5.93M – $7.90M
NOI $474,101 @ 7.0% cap · market cap 4.74%
Second Best
Retail
$6.57M
$5.75M – $7.67M
NOI $460,093 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$10.20M
$8.93M – $11.90M
NOI $714,063 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 10307, NY
14,129
Population
5,390
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
90%
High-School Grad
1.6 sq mi
ZIP Area
8,831
Density / Sq Mi
$138,807
Median Household Income
$74,211
Median Earnings
$1,618
Median Rent
$799,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Completed in 2024 with residential and commercial components across three tax lots.
Where is this mixed-use property located?
The property is located at 217 Main Street Staten Island, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 21,379 SF mixed‑use property completed in 2024; 14 total units: 11 residential and 3 commercial; Residential component includes 11 units, 22 bedrooms, and 11 baths
