Two-Story Restaurant with Outdoor
For Sale
Contact for pricing
585 Forest Avenue, Staten Island, NY 10310
Operating bar and restaurant with a full bar, kitchen, basement, and rear parking.
Property Size3,600 SF
Lot Size0.23 Acres
Price / SF$346.94
Days on Market168
Property Features for 585 Forest Avenue
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
6
Lot size
0.23 Acres
Property subtype
Retail
Zoning
C2-1
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Patio
Yes
Amenities
central air
full basement
Building Details
Year Built
1931
Buildings
1
Stories
2
Units
1
Listing Agency:
Gateway Arms Realty Corp.
(917) 685-5555
Listed By:
Laura Volsario · License #10301213299
Source:
Crexi
Added: Mar 17
Changed: Aug 30
Last Checked: Aug 30 at 5:39PM
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 two-story restaurant property contains 3,600 square feet on a 10,200-square-foot corner lot. The main level includes a full bar, dining area, restrooms, and kitchen, while the second floor offers an open layout for additional dining or catered events with restrooms. Indoor and outdoor dining areas are complemented by a full basement, potential walk-up attic, central air, and sprinkler system.
A rear yard provides six off-street parking spaces. The property is located on Forest Avenue within the Forest Avenue Business Improvement District, near Starbucks, CVS, a supermarket, banks, restaurants, cafes, fitness, medical, and professional-service businesses. Expressway connections include the MLK Expressway to the Bayonne Bridge and I-278 to the Verrazzano Bridge. Zoning is C2-1, and the building was constructed in 1931.
A rear yard provides six off-street parking spaces. The property is located on Forest Avenue within the Forest Avenue Business Improvement District, near Starbucks, CVS, a supermarket, banks, restaurants, cafes, fitness, medical, and professional-service businesses. Expressway connections include the MLK Expressway to the Bayonne Bridge and I-278 to the Verrazzano Bridge. Zoning is C2-1, and the building was constructed in 1931.
Key Highlights
- 3,600‑square‑foot, two‑story restaurant with indoor and outdoor dining
- 10,200‑square‑foot corner lot with six rear off‑street parking spaces
- Main floor includes full bar, dining, restrooms, and kitchen
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
$86,913
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
6.96%
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%
$1,738,260
$1.7M
Cap Rate 7%
$1,241,614
$1.2M
Cap Rate 9%
$965,700
$965.7K
Market Conditions
NOI Build-Up for 3,600 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
$125.3K $34.80/SF
− Vacancy
−$9.4K −$2.61/SF
EGI
$115.9K $32.19/SF
− OpEx
−$29.0K −$8.05/SF
NOI
$86.9K $24.14/SF
Area
Staten Island, NY
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%
$1,738,260
Cap Rate 7%
$1,241,614
Cap Rate 9%
$965,700
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,913 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,241 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
81k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Groceries 21%
Shops & Services 15%
McDonald's
Dining
32,668 visits/mo
0.3 miles
Key Food Marketplace
Groceries
17,252 visits/mo
0.3 miles
Starbucks
Dining
12,140 visits/mo
0.2 miles
Santander Bank
Shops & Services
9,407 visits/mo
0.2 miles
Crumbl Cookies
Dining
4,985 visits/mo
0.3 miles
Demographics for 10310, NY
26,667
Population
9,909
Households
2.7
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
14,815
Density / Sq Mi
$106,118
Median Household Income
$57,861
Median Earnings
$1,638
Median Rent
$623,300
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?
Conventional restaurant - Operating bar and restaurant with a full bar, kitchen, basement, and rear parking.
Where is this conventional restaurant located?
The property is located at 585 Forest Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: 3,600‑square‑foot, two‑story restaurant with indoor and outdoor dining; 10,200‑square‑foot corner lot with six rear off‑street parking spaces; Main floor includes full bar, dining, restrooms, and kitchen
