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2040 Forest Ave, Staten Island, NY 10303
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Property summary
AI-generated overview
Forest Commons, located at 2040 Forest Avenue in Staten Island, New York (zip code 10303), offers exceptional retail opportunities. This 165,060 square foot shopping center sits on an 11.2-acre lot and boasts 583 parking spaces, ensuring ample convenience for customers. The property is strategically positioned on a major east/west retail corridor in the northwestern quadrant of Staten Island, conveniently serving the neighborhoods north of the Staten Island Expressway (I-278). Currently, there are multiple retail spaces available, ranging from a minimum of 3,604 square feet to a maximum contiguous space of 4,072 square feet. A total of 11,349 square feet is currently vacant. Forest Commons is a thriving community center anchored by a Western Beef grocery store and complemented by a diverse mix of established tenants including Planet Fitness, Dollar Tree, Snipes, and Advance Auto Parts. This prime location and strong tenant mix provide a stable and attractive investment opportunity for businesses seeking high visibility and foot traffic in a densely populated area of Staten Island. The property is situated in Richmond County, New York.
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1992
Total area
151,502 SF
Lot
8.38 ac (365,076 SF)
Zoning code
C8-1
APN
01696-0008
UPID
US63-0751263
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Furniture & Home Goods Home Decor Store
-
Dental Office
-
Physician
-
Clothing Store
-
Dental Office
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.66M
Owner & transaction history
since 2004
2 recorded transactions
Zoning & alternative use
C8-1 · Staten Island, NY
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.66M
Value range
$1.49M – $1.83M
±10% around blend
Estimated value / SF
$11 / SF
Confidence
Property data
100
Comparable evidence
60
$1.49M
blend $1.66M
$1.83M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
151,502 SF
Lot area
8.38 ac
Year built
1992
Stories
1
APN
01696-0008
Zoning
C8-1
Assessed value
$10,851,564
Annual tax
$1,124,298
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.66M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$10.85M
Move the market yield to see immediate price impact.
Value / SF
$72
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$684k
$13.67M
$9.77M
$7.60M
$760k
$15.19M
$10.85M
$8.44M
$836k
$16.71M
$11.94M
$9.28M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$1,124,298
Tax year 2024
Assessed value
$10,851,564
Assessed 2024
Previous assessed
$10,148,850
+6.9% YoY
Effective rate
10.36%
On assessed value
Assessed land
$5,749,650
Assessed improvement
$5,101,914
Land market value
$12,777,000
Improvement market value
$10,811,000
Total market value
$23,588,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1992
Heating
NONE
Buildings
2
Stories
1
Units
21
Total area
151,502 SF
Lot
8.38 ac (365,076 SF)
Zoning code
C8-1
APN
01696-0008
UPID
US63-0751263
Jurisdiction
RICHMOND
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C8-1 · Staten Island, NYZoning C8-1 · permitted uses
C8-1 · Staten Island, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Stories
1
Buildings
2
Units
21
Lot
8.38 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C8-1
Jurisdiction
Staten Island, NY
Recorded code
C8-1
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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