Freestanding Retail Shopping
For Sale
Contact for pricing
2220 FOREST AVE, Staten Island, NY 10303
Harbor Plaza is a freestanding retail center with multiple tenants and ample on-site parking.
Property Size23,974 SF
Price / SF$542.25
Days on Market147
Property Features for 2220 FOREST AVE
General Information
Standard status
Active
Size
23,974 SF
Class
B
Total Parking Spaces
100
Property subtype
Retail
Zoning
C8
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$726,068
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
13
Tenancy
Multi
Listing Agency:
American Investment Properties
Listed By:
Ron Koenigsberg CCIM · License #NY 31K00933350
(516) 393-2300
Source:
Crexi
Added: Apr 13
Changed: Sep 4
Last Checked: Sep 4 at 11:07PM
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 American Investment Properties
Investment Insights
Based on property information with market context.
Harbor Plaza Shopping Center is a freestanding retail center featuring several tenants. The building was constructed in 2003 and offers ample on-site parking for customers and visitors.
The property is located at 2220 Forest Ave, Staten Island, NY, and is positioned across from other major retailers including Lowe’s and Kohl’s.
As a retail shopping center asset, it is suitable for buyers seeking an income-producing commercial property within an established retail environment with convenient parking and a built-in tenant mix.
The property is located at 2220 Forest Ave, Staten Island, NY, and is positioned across from other major retailers including Lowe’s and Kohl’s.
As a retail shopping center asset, it is suitable for buyers seeking an income-producing commercial property within an established retail environment with convenient parking and a built-in tenant mix.
Key Highlights
- Harbor Plaza Shopping Center at 2220 Forest Ave, Staten Island, NY, is a freestanding retail center with multiple tenants
- Built in 2003
- Ample on‑site 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
$515,940
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
3.97%
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%
$10,318,800
$10.3M
Cap Rate 7%
$7,370,571
$7.4M
Cap Rate 9%
$5,732,667
$5.7M
Market Conditions
NOI Build-Up for 23,974 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
$805.5K $33.60/SF
− Vacancy
−$68.5K −$2.86/SF
EGI
$737.1K $30.74/SF
− OpEx
−$221.1K −$9.22/SF
NOI
$515.9K $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 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%
$10,318,800
Cap Rate 7%
$7,370,571
Cap Rate 9%
$5,732,667
Alternative Uses
Best Use
Retail
$7.37M
$6.45M – $8.60M
NOI $515,940 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.44M
$10.01M – $13.35M
NOI $800,737 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
292k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 35%
Apparel 20%
Home Improvements & Furnishings 18%
Groceries 14%
Kohl's
Apparel
58,914 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
40,832 visits/mo
0.2 miles
Western Beef
Groceries
39,567 visits/mo
0.2 miles
Dollar Tree
Shops & Services
20,998 visits/mo
0.3 miles
7-Eleven
Shops & Services
14,651 visits/mo
0.2 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Harbor Plaza is a freestanding retail center with multiple tenants and ample on-site parking.
Where is this shopping center located?
The property is located at 2220 FOREST AVE Staten Island, NY.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: Harbor Plaza Shopping Center at 2220 Forest Ave, Staten Island, NY, is a freestanding retail center with multiple tenants; Built in 2003; Ample on‑site parking
