Mixed-Use Building with
For Sale
Contact for pricing
587 Bay Street, Staten Island, NY 10304
Commercial areas occupy the ground and rear portions, with a three-bedroom residential space on the second floor.
Property Size2,590 SF
Lot Size0.05 Acres
Price / SF$366.80
Days on Market272
Property Features for 587 Bay Street
General Information
Standard status
Active
Size
2,590 SF
Lot size
0.05 Acres
Property subtype
Business for Sale, Multifamily, Retail
Zoning
C4-2
Additional Details
Multifamily Units
1
Building Details
Year Built
1910
Buildings
1
Units
2
Listing Agency:
NEUHAUS REALTY INC.
(732) 946-2911
Listed By:
Gaetano Marasa · License #NY
Source:
Crexi
Added: Dec 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:36PM
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 NEUHAUS REALTY INC.
Investment Insights
Based on property information with market context.
Located at 587 Bay Street in Staten Island, this mixed-use property combines commercial and residential components within a building constructed in 1910. The commercial layout includes a storefront at the front and an additional commercial area toward the rear.
The second floor contains a three-bedroom, one-bath residential space with an eat-in kitchen, living room, and dining room combination. The property is zoned C4-2, providing a defined commercial zoning designation for the site.
The second floor contains a three-bedroom, one-bath residential space with an eat-in kitchen, living room, and dining room combination. The property is zoned C4-2, providing a defined commercial zoning designation for the site.
Key Highlights
- Commercial storefront plus additional commercial space in the rear
- Second‑floor residential space with 3 bedrooms and 1 bath
- Eat‑in kitchen, living room, and dining room combination
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
$52,448
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
5.52%
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%
$1,048,960
$1.0M
Cap Rate 7%
$749,257
$749.3K
Cap Rate 9%
$582,756
$582.8K
Market Conditions
NOI Build-Up for 2,590 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
$93.2K $36.00/SF
− Vacancy
−$9.3K −$3.60/SF
EGI
$83.9K $32.40/SF
− OpEx
−$31.5K −$12.15/SF
NOI
$52.4K $20.25/SF
Area
ZIP 10304
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,048,960
Cap Rate 7%
$749,257
Cap Rate 9%
$582,756
Alternative Uses
Best Use
Mixed Use
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$711.0K
$622.1K – $829.5K
NOI $49,767 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,507 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,242
Businesses Nearby
113k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 40%
Shops & Services 29%
Dining 17%
Groceries 11%
Nike Factory Store
Apparel
22,796 visits/mo
0.3 miles
H&M
Apparel
20,560 visits/mo
0.3 miles
Wendy's
Dining
17,889 visits/mo
0.4 miles
Mobil
Shops & Services
12,694 visits/mo
0.3 miles
Key Food
Groceries
12,025 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial areas occupy the ground and rear portions, with a three-bedroom residential space on the second floor.
Where is this mixed-use property located?
The property is located at 587 Bay Street 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: Commercial storefront plus additional commercial space in the rear; Second‑floor residential space with 3 bedrooms and 1 bath; Eat‑in kitchen, living room, and dining room combination
