Two-Unit Mixed-Use
New
For Sale
Contact for pricing
2842 Richmond Terrace, Staten Island, NY 10303
Corner commercial property with mezzanine space, off-street parking, and C2-2 zoning.
Property Size3,938 SF
Price / SF$279.33
Days on Market4
Property Features for 2842 Richmond Terrace
General Information
Standard status
Active
Size
3,938 SF
Property subtype
Mixed Use
Zoning
C2-2
Additional Details
Corner Location
Yes
Building Details
Buildings
1
Construction
solid block
Tenancy
Multi
Listing Agency:
Gateway Arms Realty Corp.
Listed By:
Christopher Long · License #30LO0850855
(646) 220-7272
Source:
Crexi
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 10:32PM
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 Gateway Arms Realty Corp.
Investment Insights
Based on property information with market context.
This mixed-use commercial building at 2842 Richmond Terrace is configured with two separate commercial units and a mezzanine. The layout supports retail, office, professional, and service-oriented uses, with the mezzanine providing additional area for offices, storage, workspace, or operational needs. Solid block construction adds a durable building component, while the separate-unit arrangement allows for distinct occupancy or leasing strategies.
Located on a corner lot in Staten Island, the property includes off-street parking for customers, clients, employees, or tenants. C2-2 zoning and the existing commercial configuration provide a flexible setting for businesses requiring a combination of usable interior space, parking, and street presence.
Located on a corner lot in Staten Island, the property includes off-street parking for customers, clients, employees, or tenants. C2-2 zoning and the existing commercial configuration provide a flexible setting for businesses requiring a combination of usable interior space, parking, and street presence.
Key Highlights
- Two separate commercial units within one mixed‑use building
- Mezzanine offers additional space for offices, storage, workspace, or operations
- Off‑street parking included on the corner property
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
$90,164
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
8.20%
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%
$1,803,280
$1.8M
Cap Rate 7%
$1,288,057
$1.3M
Cap Rate 9%
$1,001,822
$1.0M
Market Conditions
NOI Build-Up for 3,938 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
$151.2K $38.40/SF
− Vacancy
−$31.0K −$7.87/SF
EGI
$120.2K $30.53/SF
− OpEx
−$30.1K −$7.63/SF
NOI
$90.2K $22.90/SF
Area
Staten Island, NY
Vacancy
20.50%
Lease Rate
$38.40 /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%
$1,803,280
Cap Rate 7%
$1,288,057
Cap Rate 9%
$1,001,822
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,164 @ 7.0% cap · market cap 8.20%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,749 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,530 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner commercial property with mezzanine space, off-street parking, and C2-2 zoning.
Where is this mixed-use property located?
The property is located at 2842 Richmond Terrace Staten Island, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two separate commercial units within one mixed‑use building; Mezzanine offers additional space for offices, storage, workspace, or operations; Off‑street parking included on the corner property
