Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    646-662 Port Richmond Ave Staten Island, NY 10302
    Back to Search
    Property profile & analytics

    646-662 Port Richmond Ave Staten Island, NY 10302

    View on Map
    • Apartment buildings
    • 27,152 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 646-662 Port Richmond Ave

    Year built
    1974
    Property size
    27,152 SF
    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents a 43-unit apartment building located at 646-662 Port Richmond Ave, Staten Island, NY 10302. Boasting a substantial 27,152 square feet, this multifamily property offers a compelling blend of strong financials and attractive features. The building, constructed in 1974, features a recently updated roof (installed within the last year) and a six-year-old heating system, minimizing immediate capital expenditure needs. The property includes 39 private parking spaces, a significant amenity in this location, and a large basement with a laundry area. The unit mix comprises 13 two-bedroom apartments, 17 one-bedroom apartments, and 12 studio apartments, along with a large first-floor office with its own address. The building sits on a sizable 200' x 180' lot and is described as an all-brick, U-shaped garden-style structure. Currently operating at 98% occupancy, the property generates a Net Operating Income (NOI) of $605,798, resulting in a 5.66% cap rate. The asking price is $10,700,000, translating to a price per square foot of $394.08 and a price per unit of $248,837.21. Its location in Port Richmond offers convenient access to shopping and public transportation, with city buses providing easy commutes to Brooklyn, Manhattan, and the Staten Island Mall. This property is not rent-stabilized. Detailed financial information is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.1423
    Latitude
    40.6277

    Comparable in this City

    • Value Estimation by Request
      27,152 SF

      646-662 Port Richmond Ave

      Multifamily properties • 27,152 SF
      646-662 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • Value Estimation
      $565,000
      9,396 SF

      601 Prt Richmond Ave, Unit 12

      APARTMENT HOUSE (5+ UNITS) • 9,396 SF
      601 Prt Richmond Ave, Staten Island, NY 10302-1744
      View Details
    • Value Estimation by Request
      1,280 SF

      347 Heberton Ave

      APARTMENT HOUSE (5+ UNITS) • 1,280 SF
      347 Heberton Ave, Staten Island, NY 10302-2132
      View Details
    • Value Estimation
      $880,000
      3,750 SF

      90 Park Ave

      APARTMENT HOUSE (5+ UNITS) • 3,750 SF
      90 Park Ave, Staten Island, NY 10302-1440
      View Details
    • Value Estimation by Request
      4,056 SF

      11 Cottage Pl

      APARTMENT HOUSE (5+ UNITS) • 4,056 SF
      11 Cottage Pl, Staten Island, NY 10302-1556
      View Details
    • Value Estimation by Request
      7,380 SF

      89 Willowbrook Rd

      APARTMENT HOUSE (5+ UNITS) • 7,380 SF
      89 Willowbrook Rd, Staten Island, NY 10302-2223
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,500 SF

      Performing 9-Unit Investment Portfolio

      Fully performing 9-unit portfolio with tenants in place.
      568 Villa Ave, Staten Island, NY 10302
      View Details
    • $10,800,000

      43-Unit Brick Apartment Building

      Garden-style apartment building with parking in Port Richmond.
      646-662 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • $10,800,000
      27,152 SF

      Staten Island Multi-Unit Investment

      43-unit apartment building in Port Richmond, Staten Island.
      646-662 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • $10,800,000
      27,152 SF

      Staten Island Multifamily Investment Opportunity

      43-unit apartment building in Port Richmond with upside potential.
      646-662 Port Richmond Ave, New York City, NY 10302
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr

      Retail Space on Port Richmond

      Retail space with basement, high ceilings, and central HVAC.
      273 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • Contact for pricing
      980 SF

      Staten Island Retail Space Available

      Retail space available in Staten Island shopping center.
      1495-1553 Forest Ave, Staten Island, NY 10302
      View Details
    • $10,000 /Mo

      Staten Island Warehouse/Factory Space

      Warehouse/factory space available for lease in Staten Island, NY.
      116 Faber St, Staten Island, NY 10302
      View Details
    • $12,000 /Mo
      7,500 SF

      Staten Island Commercial Building For Rent

      Equipped cabinet maker shop with showroom and offices available for rent.
      1944-1952 Richmond Ter, Staten Island, NY 10302
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space on Forest Avenue

      3200 SF retail space in busy Staten Island strip center.
      1367 Forest Ave, Staten Island, NY 10302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    646-662 Port Richmond Ave
    Staten Island, NY 10302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    646-662 Port Richmond Ave, Staten Island, NY, 10302
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!