Renovated Two-Story Retail
For Sale
Contact for pricing
Pending
956 Richmond Avenue, Staten Island, NY 10314
Completely renovated two-story commercial space with 1,700 sq. ft. open first floor and 1,300 sq. ft. second level.
Property Size2,400 SF
Days on Market448
Property Features for 956 Richmond Avenue
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Business for Sale, Office, Retail, Industrial
Zoning
C1-2
Building Details
Year Built
1975
Buildings
1
Stories
2
Listing Agency:
NEUHAUS REALTY INC.
Listed By:
Gaetano Marasa · License #NY
(732) 946-2911
Source:
Crexi
Added: Jun 16, 2025
Changed: Aug 8
Last Checked: Jul 24 at 2:29PM
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.
Completely renovated two-story commercial space totaling about 3,000 sq. ft., configured with approximately 1,700 sq. ft. of open area on the first floor and an additional 1,300 sq. ft. on the second floor. The layout supports a range of retail and service uses where visibility and flexible floor planning are important.
Located at 956 Richmond Avenue, directly across from a busy shopping plaza, the property is positioned for strong walk-in exposure from surrounding retail activity. The building’s two-level configuration offers practical options for combining customer-facing space below with additional operating area upstairs.
The property is presented for sale and is described as adaptable for uses such as restaurant, nail salon, café, boutique, or professional office, depending on the user’s operating plan and requirements.
Located at 956 Richmond Avenue, directly across from a busy shopping plaza, the property is positioned for strong walk-in exposure from surrounding retail activity. The building’s two-level configuration offers practical options for combining customer-facing space below with additional operating area upstairs.
The property is presented for sale and is described as adaptable for uses such as restaurant, nail salon, café, boutique, or professional office, depending on the user’s operating plan and requirements.
Key Highlights
- Completely renovated two‑story commercial space with 3,000 sq. ft. total building area
- 1,700 sq. ft. open first‑floor space plus 1,300 sq. ft. second‑floor area
- Year built: 1975
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
$61,476
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
6.15%
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%
$1,229,520
$1.2M
Cap Rate 7%
$878,229
$878.2K
Cap Rate 9%
$683,067
$683.1K
Market Conditions
NOI Build-Up for 2,400 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
$103.1K $42.96/SF
− Vacancy
−$21.1K −$8.81/SF
EGI
$82.0K $34.15/SF
− OpEx
−$20.5K −$8.54/SF
NOI
$61.5K $25.61/SF
Area
ZIP 10314
Vacancy
20.50%
Lease Rate
$42.96 /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%
$1,229,520
Cap Rate 7%
$878,229
Cap Rate 9%
$683,067
Alternative Uses
Best Use
Office B
$878.2K
$768.5K – $1.02M
NOI $61,476 @ 7.0% cap · market cap 6.15%
Second Best
Retail
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,161 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
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?
Retail space - Completely renovated two-story commercial space with 1,700 sq. ft. open first floor and 1,300 sq. ft. second level.
Where is this retail space located?
The property is located at 956 Richmond Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Completely renovated two‑story commercial space with 3,000 sq. ft. total building area; 1,700 sq. ft. open first‑floor space plus 1,300 sq. ft. second‑floor area; Year built: 1975
