Mixed-Use Building with Commercial
For Sale
Contact for pricing
227 Port Richmond Avenue, Staten Island, NY 10302
Two two-bedroom residences complement the commercial component.
Property Size2,502 SF
Price / SF$279.74
Days on Market151
Property Features for 227 Port Richmond Avenue
General Information
Standard status
Active
Size
2,502 SF
Property subtype
Mixed Use
Zoning
C-4-2
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1931
Listing Agency:
JM PROPERTIES
(917) 701-9376
Listed By:
JESSICA MATUTE · License #10311207871
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 12:55PM
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 JM PROPERTIES
Investment Insights
Based on property information with market context.
This mixed-use property contains two two-bedroom apartments alongside one commercial space, creating a combination of residential and commercial occupancy within the same building. The property encompasses 2,502 square feet and was constructed in 1931.
Zoned C-4-2, the building is located at 227 Port Richmond Avenue in Staten Island, New York. The existing layout includes separate residential and commercial components, offering a clearly defined mixed-use configuration.
Zoned C-4-2, the building is located at 227 Port Richmond Avenue in Staten Island, New York. The existing layout includes separate residential and commercial components, offering a clearly defined mixed-use configuration.
Key Highlights
- Two two‑bedroom apartments
- One commercial space
- 2,502 square feet
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
$55,484
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
7.93%
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%
$1,109,680
$1.1M
Cap Rate 7%
$792,629
$792.6K
Cap Rate 9%
$616,489
$616.5K
Market Conditions
NOI Build-Up for 2,502 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
$105.1K $42.00/SF
− Vacancy
−$4.2K −$1.68/SF
EGI
$100.9K $40.32/SF
− OpEx
−$45.4K −$18.14/SF
NOI
$55.5K $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%
$1,109,680
Cap Rate 7%
$792,629
Cap Rate 9%
$616,489
Alternative Uses
Best Use
Apartment 5plus
$792.6K
$693.6K – $924.7K
NOI $55,484 @ 7.0% cap · market cap 7.93%
Second Best
Mixed Use
$707.7K
$619.3K – $825.7K
NOI $49,540 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,567 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 10302, NY
20,931
Population
6,927
Households
3
Avg Household Size
35
Median Age
29%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
17,443
Density / Sq Mi
$76,089
Median Household Income
$43,608
Median Earnings
$1,800
Median Rent
$586,300
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 - Two two-bedroom residences complement the commercial component.
Where is this mixed-use property located?
The property is located at 227 Port Richmond Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two two‑bedroom apartments; One commercial space; 2,502 square feet
