Mixed-Use Property with
New
For Sale
$2,388,000
360 Targee St, Staten Island, NY 10304
Commercial building with restaurant and office occupancy, on-site parking, and flexibility for continued use or vacant delivery.
Property Size4,750 SF
Price / SF$530.67
Days on Market2
Property Features for 360 Targee St
General Information
Standard status
Active
Size
4,750 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$25,977
Building Details
Building Size
4,750 SF
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
(718) 690-3900
Listed By:
Joseph Madaio, CRS, GRI
(718) 690-3900
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 10:10AM
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 Joseph Madaio, CRS, GRI
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes an approximately 4,500 SF building and an additional approximately 7,000 SF parking lot with a garage. The existing configuration includes a pizzeria, restaurant, and large office, creating a combination of commercial spaces within one property. The building is described as being in excellent condition and includes on-site parking.
The property can be delivered vacant at closing, supporting an owner-user or redevelopment plan. Existing restaurant and office components may also accommodate continued mixed commercial use, including retail, restaurant, and office operations. Its Staten Island address is served by walk, bike, and transit access, with a walk score of 84, bike score of 57, and transit score of 62.
The property can be delivered vacant at closing, supporting an owner-user or redevelopment plan. Existing restaurant and office components may also accommodate continued mixed commercial use, including retail, restaurant, and office operations. Its Staten Island address is served by walk, bike, and transit access, with a walk score of 84, bike score of 57, and transit score of 62.
Key Highlights
- Approximately 4,500 SF mixed‑use commercial building
- Approximately 7,000 SF parking lot with garage
- Existing pizzeria, restaurant, and large office occupancy
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
$126,784
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
5.31%
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%
$2,535,680
$2.5M
Cap Rate 7%
$1,811,200
$1.8M
Cap Rate 9%
$1,408,711
$1.4M
Market Conditions
NOI Build-Up for 4,500 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
$208.4K $46.32/SF
− Vacancy
−$39.4K −$8.75/SF
EGI
$169.0K $37.57/SF
− OpEx
−$42.3K −$9.39/SF
NOI
$126.8K $28.17/SF
Area
ZIP 10304
Vacancy
18.90%
Lease Rate
$46.32 /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%
$2,535,680
Cap Rate 7%
$1,811,200
Cap Rate 9%
$1,408,711
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,784 @ 7.0% cap · market cap 5.31%
Second Best
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,403 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,301 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 10304, NY
46,944
Population
17,524
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
13,413
Density / Sq Mi
$71,506
Median Household Income
$41,752
Median Earnings
$1,516
Median Rent
$659,900
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 - Commercial building with restaurant and office occupancy, on-site parking, and flexibility for continued use or vacant delivery.
Where is this mixed-use property located?
The property is located at 360 Targee St Staten Island, NY.
What is the asking price?
The asking price for this property is $2,388,000.
What are key features of this property?
This property features: Approximately 4,500 SF mixed‑use commercial building; Approximately 7,000 SF parking lot with garage; Existing pizzeria, restaurant, and large office occupancy
