Fully Occupied Industrial
For Sale
Contact for pricing
3111 Richmond Ter, Staten Island, NY 10303
Industrial warehouse site in an M3-1 zoning district with a fully occupied building generating annual income exceeding $1,000,000.
Property Size75,000 SF
Price / SF$260
Days on Market191
Property Features for 3111 Richmond Ter
General Information
Standard status
Active
Size
75,000 SF
Property subtype
Industrial
Zoning
M3-1
Building Details
Year Built
1931
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
United National Realty
Listed By:
Michael Dukhovny · License #NY
(718) 979-8000
Source:
Crexi
Added: Mar 26
Changed: Sep 17
Last Checked: Oct 1 at 11:21AM
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 United National Realty
Investment Insights
Based on property information with market context.
The offering consists of a fully occupied industrial warehouse property totaling over 60,000 square feet. The building is currently leased, with tenants up to date on rents, and most leases include 5% yearly increases.
The property is located along Staten Island’s northern shore in one of its few industrial areas, within the M3-1 zoning district, which allows for most uses. It is also described as being near major expressways and bridges.
This is presented as an investor-focused opportunity, with the property providing ongoing rental income as conveyed in the current occupancy and lease terms.
The property is located along Staten Island’s northern shore in one of its few industrial areas, within the M3-1 zoning district, which allows for most uses. It is also described as being near major expressways and bridges.
This is presented as an investor-focused opportunity, with the property providing ongoing rental income as conveyed in the current occupancy and lease terms.
Key Highlights
- Industrial warehouse property at 3111 Richmond Terrace, Staten Island, NY
- More than 60,000 sq ft site with a fully occupied building
- Fully occupied building with annual income exceeding $1,000,000
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
$1,590,435
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
8.16%
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%
$31,808,700
$31.8M
Cap Rate 7%
$22,720,500
$22.7M
Cap Rate 9%
$17,671,500
$17.7M
Market Conditions
NOI Build-Up for 75,000 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
$1.98M $26.40/SF
− Vacancy
−$108.9K −$1.45/SF
EGI
$1.87M $24.95/SF
− OpEx
−$280.7K −$3.74/SF
NOI
$1.59M $21.21/SF
Area
Staten Island, NY
Vacancy
5.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
15.00%
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%
$31,808,700
Cap Rate 7%
$22,720,500
Cap Rate 9%
$17,671,500
Alternative Uses
Best Use
Warehouse
$22.72M
$19.88M – $26.51M
NOI $1,590,435 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$35.79M
$31.31M – $41.75M
NOI $2,505,017 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse site in an M3-1 zoning district with a fully occupied building generating annual income exceeding $1,000,000.
Where is this warehouse located?
The property is located at 3111 Richmond Ter Staten Island, NY.
What is the asking price?
The asking price for this property is $19,500,000.
What are key features of this property?
This property features: Industrial warehouse property at 3111 Richmond Terrace, Staten Island, NY; More than 60,000 sq ft site with a fully occupied building; Fully occupied building with annual income exceeding $1,000,000
