Storefront Property with
For Sale
Contact for pricing
8 Barrett Avenue, Staten Island, NY 10302
Includes a full basement, forced-air heating, and central air conditioning.
Property Size1,040 SF
Price / SF$552.88
Days on Market182
Property Features for 8 Barrett Avenue
General Information
Standard status
Active
Size
1,040 SF
Property subtype
Business for Sale, Retail
Zoning
R3-2
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Neuhaus Realty, Inc.
Listed By:
Krzysztof Kania · License #10401249864
Source:
Crexi
Added: Mar 2
Changed: Aug 30
Last Checked: Aug 30 at 11:25AM
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.
This Staten Island storefront property at 8 Barrett Avenue contains approximately 1,040 sq ft and a full basement. The building was constructed in 1961 and is equipped with forced-air heating and central air conditioning. R3-2 zoning applies to the property.
The premises are associated with Philip's Candy, a confectionery business established in 1916 that produces small-batch chocolates, hand-dipped fruits, jelly apples, and other specialty confections. The seller will consider selling the business separately and may offer a lease option to a qualified buyer. The offering includes the building, with business-related arrangements available as a separate component.
The premises are associated with Philip's Candy, a confectionery business established in 1916 that produces small-batch chocolates, hand-dipped fruits, jelly apples, and other specialty confections. The seller will consider selling the business separately and may offer a lease option to a qualified buyer. The offering includes the building, with business-related arrangements available as a separate component.
Key Highlights
- Approximately 1,040 sq ft plus a full basement
- Forced‑air heating and central air conditioning
- R3‑2 zoning
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
$22,382
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
3.89%
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%
$447,640
$447.6K
Cap Rate 7%
$319,743
$319.7K
Cap Rate 9%
$248,689
$248.7K
Market Conditions
NOI Build-Up for 1,040 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
$34.9K $33.60/SF
− Vacancy
−$3.0K −$2.86/SF
EGI
$32.0K $30.74/SF
− OpEx
−$9.6K −$9.22/SF
NOI
$22.4K $21.52/SF
Area
Staten Island, NY
Vacancy
8.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
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%
$447,640
Cap Rate 7%
$319,743
Cap Rate 9%
$248,689
Alternative Uses
Best Use
Retail
$319.7K
$279.8K – $373.0K
NOI $22,382 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.2K
$434.2K – $578.9K
NOI $34,736 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
434k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Superstores 19%
Dining 13%
Groceries 13%
Target
Superstores
82,066 visits/mo
0.2 miles
Stop & Shop
Groceries
56,113 visits/mo
0.1 miles
Five Below
Shops & Services
33,894 visits/mo
0.1 miles
PetSmart
Shops & Services
25,715 visits/mo
0.2 miles
Michaels
Shops & Services
22,057 visits/mo
0.1 miles
Demographics for 10302, NY
20,931
Population
6,927
Households
3
Avg Household Size
35
Median Age
29%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
17,443
Density / Sq Mi
$76,089
Median Household Income
$43,608
Median Earnings
$1,800
Median Rent
$586,300
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?
Storefront property - Includes a full basement, forced-air heating, and central air conditioning.
Where is this storefront property located?
The property is located at 8 Barrett Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 1,040 sq ft plus a full basement; Forced‑air heating and central air conditioning; R3‑2 zoning
