Standalone Commercial Asset with
For Sale
$2,100,000
257 New Dorp Ln, Staten Island, NY 10306
Former bank building in Staten Island's New Dorp business corridor.
Property Size5,600 SF
Lot Size0.14 Acres
Price / SF$420
Days on Market150
Property Features for 257 New Dorp Ln
General Information
Standard status
Active
Size
5,600 SF
Lot size
0.14 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$32,399
Building Details
Building Size
5,600 SF
Year Built
1949
Stories
2
Listing Agency:
DiTommaso Real Estate
(718) 667-8000
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 667-8000
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 20 at 11:56AM
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 DiTommaso Real Estate
Investment Insights
Based on property information with market context.
Located in the heart of Staten Island's active New Dorp business corridor, 257 New Dorp Lane is a roughly 5,000-square-foot standalone former bank building. The structure features a functional layout with a usable lower level and approximately 16-foot ceilings. The property's frontage on New Dorp Lane ensures visibility, while the existing rear drive-through infrastructure provides a competitive edge for specific retail uses. The rear area presents potential for conversion into on-site parking for approximately six to seven vehicles, subject to municipal approvals. Benefiting from its location within a dense residential catchment area and proximity to the New Dorp SIR Station, the property captures both local foot traffic and daily commuters. This is an opportunity for an owner-user seeking a permanent headquarters or an investor looking to acquire a high-visibility asset with parking flexibility. All buyers should conduct due diligence regarding zoning, approvals, and gas service feasibility.
Key Highlights
- High‑visibility location on New Dorp Lane in a dense residential area.
- Drive‑through infrastructure already in place.
- Approximately 5,000 SF standalone building with a usable lower level.
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
$120,713
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
5.75%
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%
$2,414,260
$2.4M
Cap Rate 7%
$1,724,471
$1.7M
Cap Rate 9%
$1,341,256
$1.3M
Market Conditions
NOI Build-Up for 5,000 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
$174.0K $34.80/SF
− Vacancy
−$13.1K −$2.61/SF
EGI
$161.0K $32.19/SF
− OpEx
−$40.2K −$8.05/SF
NOI
$120.7K $24.14/SF
Area
ZIP 10306
Vacancy
7.50%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,414,260
Cap Rate 7%
$1,724,471
Cap Rate 9%
$1,341,256
Alternative Uses
Best Use
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,713 @ 7.0% cap · market cap 5.75%
Second Best
Retail
$1.54M
$1.35M – $1.79M
NOI $107,604 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$2.39M
$2.09M – $2.78M
NOI $167,001 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
330k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 34%
Home Improvements & Furnishings 12%
Apparel 11%
HomeGoods
Home Improvements & Furnishings
39,034 visits/mo
0.5 miles
T.J. Maxx
Apparel
36,700 visits/mo
0.3 miles
Applebee's
Dining
31,835 visits/mo
0.4 miles
Five Below
Shops & Services
28,131 visits/mo
0.3 miles
Speedway
Shops & Services
22,996 visits/mo
0.2 miles
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
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?
Bank - Former bank building in Staten Island's New Dorp business corridor.
Where is this bank located?
The property is located at 257 New Dorp Ln Staten Island, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: High‑visibility location on New Dorp Lane in a dense residential area.; Drive‑through infrastructure already in place.; Approximately 5,000 SF standalone building with a usable lower level.
