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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    324 New Dorp Ln Staten Island, NY 10306-3035

    • Retail space
    • 3,800 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1585046
    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

    • Chun Yang Tea- New Dorp / Bubble Tea Store

    Property Details for 324 New Dorp Ln

    Year built
    1951
    Lot size
    0.23 lot acres
    Property size
    3,800 SF
    Zone code
    R3-2
    Property type
    Retail space
    APN
    04221-0042
    APU
    42210042

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,139,000
      Market price range: $819k - $1.84M
      AI Estimate
      $552,000
      Market price range: $317k - $875k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,265,000
      Current use
      AUTO REPAIR, GARAGE
      $1,335,000
      Change: +6% Conversion: Difficult
      OFFICE BUILDING
      $1,135,000
      Change: -10% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,100,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.1117
    Latitude
    40.5712
    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
    $26,558
    $135,000
    $115,740
    $250,740
    -
    $300,000
    $294,000
    $594,000

    Comparable in this City

    • Value Estimation
      $3,520,000
      13,044 SF

      2690 Hylan Blvd

      RETAIL STORES (PERSONAL SERVICES) • 13,044 SF
      2690 Hylan Blvd, Staten Island, NY 10306-4336
      View Details
    • Value Estimation
      $15,500,000
      44,448 SF

      430 New Dorp Ln

      RETAIL STORES (PERSONAL SERVICES) • 44,448 SF
      430 New Dorp Ln, Staten Island, NY 10306-4946
      View Details
    • Value Estimation by Request
      2,200 SF

      5 New Dorp N Plz

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      5 New Dorp N Plz, Staten Island, NY 10306-2358
      View Details
    • Value Estimation by Request
      1,057 SF

      3479 Richmond Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,057 SF
      3479 Richmond Rd, Staten Island, NY 10306-1427
      View Details
    • Value Estimation
      $2,710,000
      10,000 SF

      2107 Richmond Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      2107 Richmond Rd, Staten Island, NY 10306-2574
      View Details
    • Value Estimation by Request
      680 SF

      449 Medina St, Unit 1D

      RETAIL STORES (PERSONAL SERVICES) • 680 SF
      449 Medina St, Staten Island, NY 10306-4400
      View Details

    Similar Nearby for Sale

    • $1,699,999
      4,152 SF

      Two-Story Commercial Building with Parking

      Two-story commercial building with retail, offices, and private parking.
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    • $2,800,000

      Staten Island Commercial Building For Sale

      Standalone building with drive-through potential in a dense residential corridor.
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    • $2,800,000
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      Former bank building with drive-through potential in Staten Island.
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    • $5,998,000
      19,820 SF

      Moravian Florist on 1.32 Acres

      Established florist business and real estate on 1.32 acres.
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      Retail property for sale located on Richmond Road.
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    Similar Nearby for Lease

    • $13,750 /Mo
      3,610 SF

      Standalone Building on Active Corridor

      Former bank building with drive-through potential on Staten Island.
      257 New Dorp Ln, Staten Island, NY 10306
      View Details
    • Contact for pricing
      1,291 SF

      Retail Space in Open-Air Center

      Retail space available in a dynamic, grocery-anchored open-air center.
      2656 Hylan Blvd, Staten Island, NY 10306
      View Details
    • $9,400 /Mo
      2,800 SF

      Staten Island Retail/Office Space

      2800 sq ft retail/office space in Oakwood Heights/Richmondtown.
      3161 Amboy Rd, Staten Island, NY 10306
      View Details
    • $13,750 /Mo
      5,000 SF

      Standalone Building in Active Corridor

      Former bank building with drive-through potential in Staten Island.
      257 New Dorp Ln, Staten Island, NY 10306
      View Details
    • Contact for pricing
      409,624 SF

      Staten Island Retail Center Opportunity

      Prime Staten Island retail space available.
      0 Hylan Blvd. & Bch Ave, Staten Island, NY 10306
      View Details
    • Contact for pricing
      7,000 SF

      Hylan Blvd Ground Lease Opportunity

      Staten Island Retail/Office Space
      2120 Hylan Blvd, Staten Island, NY 10306
      View Details
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    324 New Dorp Ln
    Staten Island, NY 10306-3035
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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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