Medical Office Building For
For Sale
Contact for pricing
3767 Richmond Avenue, Staten Island, NY 10312
Medical office building with high visibility in doctor's row.
Property Size2,108 SF
Lot Size0.13 Acres
Price / SF$450.66
Days on Market184
Property Features for 3767 Richmond Avenue
General Information
Standard status
Active
Size
2,108 SF
Lot size
0.13 Acres
Property subtype
Multifamily
Zoning
R3A
Building Details
Year Built
1970
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
United National Realty
(718) 979-8000
Listed By:
Michael Dukhovny · License #NY
Source:
Crexi
Added: Feb 19
Changed: Aug 21
Last Checked: Aug 17 at 9:28AM
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.
This property presents an opportunity for either a user or an investor. It is situated in a location with high visibility on Richmond Avenue. The building includes a second floor that is currently leased. The ground level features a vacant medical office space. The medical office is equipped with 3 exam rooms, a reception and waiting area, a lab area, and 2 bathrooms. The lot dimensions are 40x138, offering a buildable area. The facility FAR is 1, and the residential FAR is 0.75; consulting with an architect is recommended. The property size is 2108 square feet.
Key Highlights
- High visibility location on Richmond Ave's 'doctor's row'.
- Ground level vacant medical office featuring 3 exam rooms, reception/waiting area, lab, and 2 bathrooms.
- Second floor is currently leased, providing immediate income.
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
$57,675
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
6.07%
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%
$1,153,500
$1.2M
Cap Rate 7%
$823,929
$823.9K
Cap Rate 9%
$640,833
$640.8K
Market Conditions
NOI Build-Up for 2,108 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
$96.1K $45.60/SF
− Vacancy
−$19.2K −$9.12/SF
EGI
$76.9K $36.48/SF
− OpEx
−$19.2K −$9.12/SF
NOI
$57.7K $27.36/SF
Area
ZIP 10312
Vacancy
20.00%
Lease Rate
$45.60 /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%
$1,153,500
Cap Rate 7%
$823,929
Cap Rate 9%
$640,833
Alternative Uses
Best Use
Office B
$823.9K
$720.9K – $961.3K
NOI $57,675 @ 7.0% cap · market cap 6.07%
Second Best
Healthcare Medical
$546.4K
$478.1K – $637.5K
NOI $38,248 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$1.01M
$880.1K – $1.17M
NOI $70,408 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10312, NY
61,642
Population
22,547
Households
2.7
Avg Household Size
43
Median Age
41%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
8,934
Density / Sq Mi
$111,434
Median Household Income
$62,700
Median Earnings
$1,911
Median Rent
$698,900
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?
Medical Office Space - Medical office building with high visibility in doctor's row.
Where is this medical office space located?
The property is located at 3767 Richmond Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: High visibility location on Richmond Ave's 'doctor's row'.; Ground level vacant medical office featuring 3 exam rooms, reception/waiting area, lab, and 2 bathrooms.; Second floor is currently leased, providing immediate income.
