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    Property profile & analytics

    1605 Forest Ave Staten Island, NY 10302

    • Office buildings
    • 3,604 SF
    • 0.18 lot acres
    For Sale
    View listing
    $1,700,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6068484
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Coldwell Banker Advantage / Real Estate Agency
    • Perfect Playground Inc / Physical Therapist
    • Beth Blitzstein, MA / Occupational Therapist
    • Dana Jo Ketchel / Speech Pathologist
    • Laura Bossert / Social Worker

    Property Details for 1605 Forest Ave

    Year built
    1991
    Lot size
    0.18 lot acres
    Property size
    3,604 SF
    Zone code
    R3-1
    Property type
    Office buildings
    APN
    01065-0004
    APU
    10650004

    Description

    This exceptional 1,600 square foot office space is available for immediate occupancy on the second floor of a Class A building at 1605 Forest Avenue in Staten Island, New York. The space is part of a larger two-story building totaling 3,200 square feet, offering a single-tenant occupancy opportunity. The building features ample parking with 15 spaces available for tenants and visitors. The property boasts a highly desirable location with high vehicular traffic, making it easily accessible for clients and employees. This traditional office space is perfect for a variety of professional uses, including but not limited to real estate, accounting, architectural, or legal firms. The building is located in Richmond County, New York, with a convenient zip code of 10302. While the building does not have an elevator, the second-floor location is easily accessible. This move-in ready space presents a fantastic opportunity for businesses seeking a modern and well-situated office environment in a thriving area of Staten Island. The property is classified as a Class A building, reflecting its high quality and modern amenities. The address is 1605 Forest Avenue.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,465,000
      6.5%
      $1,355,000
      7%
      $1,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,425,000
      Market price range: $698k - $1.43M
      AI Estimate
      $1,738,000
      Market price range: $310k - $1.74M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,080,000
      Current use
      AUTO REPAIR, GARAGE
      $1,265,000
      Change: +17% Conversion: Difficult
      RETAIL STORES
      $1,200,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.1418
    Latitude
    40.6249
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $38,064
    $106,200
    $253,170
    $359,370
    -
    $236,000
    $574,000
    $810,000

    Comparable in this City

    • Value Estimation
      $2,170,000
      5,860 SF

      1289 Frst Ave

      PROFESSIONAL BUILDING • 5,860 SF
      1289 Frst Ave, Staten Island, NY 10302-2322
      View Details
    • Value Estimation
      $3,020,000
      7,380 SF

      790 Prt Richmond Ave

      OFFICE BUILDING (MULTI-STORY) • 7,380 SF
      790 Prt Richmond Ave, Staten Island, NY 10302-1738
      View Details
    • Value Estimation
      $655,000
      1,800 SF

      325 Prt Richmond Ave

      OFFICE BUILDING (MULTI-STORY) • 1,800 SF
      325 Prt Richmond Ave, Staten Island, NY 10302-1708
      View Details
    • Value Estimation
      $3,265,000
      9,870 SF

      100 Park Ave

      OFFICE BUILDING (MULTI-STORY) • 9,870 SF
      100 Park Ave, Staten Island, NY 10302-1440
      View Details
    • Value Estimation
      $1,025,000
      2,795 SF

      545 Prt Richmond Ave

      OFFICE BUILDING (MULTI-STORY) • 2,795 SF
      545 Prt Richmond Ave, Staten Island, NY 10302-1720
      View Details
    • Value Estimation
      $585,000
      1,485 SF

      631 College Ave

      PROFESSIONAL BUILDING • 1,485 SF
      631 College Ave, Staten Island, NY 10302-2412
      View Details

    Similar Nearby for Sale

    • $1,999,900
      Pending

      Mixed-Use Property in Westerleigh

      Prime mixed-use property in Staten Island's active commercial corridor.
      1288 Forest Ave, Staten Island, NY 10302
      View Details
    • $1,700,000
      3,604 SF

      Two-Story Commercial Building with Parking

      Well-maintained, two-story commercial building with parking and quality tenants.
      1605 Forest Ave, Staten Island, NY 10302
      View Details
    • $10,700,000

      Staten Island Multifamily Investment

      43-Unit Apartment Building, Prime Location
      0 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • $9,500,000

      Staten Island Commercial Land Available

      Commercial land for sale in Staten Island, New York.
      1257-1267 Forest Ave, Staten Island, NY 10302
      View Details
    • $4,900,000
      0.27 Acres

      Staten Island Commercial Development Site

      Commercial land in a busy hub with high visibility.
      159-163 Port Richmond Ave, Staten Island, NY 10302
      View Details
    • $10,700,000
      27,152 SF

      43-Unit Garden Style Apartment Building

      All brick, 43-unit apartment building in Staten Island, NY.
      646-662 Port Richmond Ave, Staten Island, NY 10302
      View Details

    Similar Nearby for Lease

    • $9,567 /Mo
      53,000 SF

      Staten Island Flex Space Available

      Prime commercial flex space suitable for various business uses.
      1961 Richmond Ter, Staten Island, NY 10302
      View Details
    • $12,000 /Mo
      7,500 SF

      Staten Island Commercial Building For Rent

      7,500 SF commercial building suitable for manufacturing, retail, or office.
      1944-1952 Richmond Ter, Staten Island, NY 10302
      View Details
    • $9,567 /Mo
      174,240 SF

      Staten Island Flex Office/Warehouse Space

      8200 SF flex office/warehouse space for lease.
      1961 Richmond Ter, Staten Island, NY 10302
      View Details
    • $35 SF/Yr
      1,200 SF

      Port Richmond Ave Retail Space

      Prime Retail Space, High Traffic Area
      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
    • $4,700 /Mo
      861 SF

      Staten Island Retail Space Available

      861 sq ft commercial space in prime location.
      1686 Forest Ave, Staten Island, NY 10302
      View Details
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    1605 Forest Ave
    Staten Island, NY 10302
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    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
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