Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    581 Midland Ave, Unit 589 Staten Island, NY 10306-5929

    • Retail space
    • 4,675 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0736396
    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

    • New Everybody's Kitchen / Chinese Restaurant / Cantonese Restaurant

    Property Details for 581 Midland Ave

    Year built
    1987
    Lot size
    0.28 lot acres
    Property size
    4,675 SF
    Zone code
    R3-2
    Property type
    Retail space
    APN
    03811-0001
    APU
    38110001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,104,000
      Market price range: $1.01M - $2.27M
      AI Estimate
      $534,000
      Market price range: $390k - $1.08M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,400,000
      COMMERCIAL (GENERAL)
      $1,355,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.0927
    Latitude
    40.5724
    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
    $21,258
    $162,000
    $81,000
    $243,000
    -
    $360,000
    $86,000
    $446,000

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      172nd New Dorp Ln

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      172nd New Dorp Ln, Staten Island, NY 10306-3006
      View Details
    • Value Estimation
      $5,540,000
      17,022 SF

      1375 Railroad Ave

      RETAIL STORES (PERSONAL SERVICES) • 17,022 SF
      1375 Railroad Ave, Staten Island, NY 10306-2348
      View Details
    • Value Estimation by Request
      1,061 SF

      3477 Richmond Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,061 SF
      3477 Richmond Rd, Staten Island, NY 10306-1427
      View Details
    • Value Estimation by Request
      1,235 SF

      2232 Hylan Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,235 SF
      2232 Hylan Blvd, Staten Island, NY 10306-3227
      View Details
    • Value Estimation by Request
      1,457 SF

      2231 Hylan Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,457 SF
      2231 Hylan Blvd, Staten Island, NY 10306
      View Details
    • Value Estimation by Request
      2,144 SF

      267 New Dorp Lna

      RETAIL STORES (PERSONAL SERVICES) • 2,144 SF
      267 New Dorp Lna, Staten Island, NY 10306-3049
      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.
      354-356 New Dorp Ln, Staten Island, NY 10306
      View Details
    • $2,800,000

      Staten Island Commercial Building For Sale

      Standalone building with drive-through potential in a dense residential corridor.
      257 New Dorp Ln, Staten Island, NY 10306
      View Details
    • $2,800,000
      5,000 SF

      Standalone Building on Active Corridor

      Former bank building with drive-through potential in Staten Island.
      257 New Dorp Ln, Staten Island, NY 10306
      View Details
    • $5,998,000
      19,820 SF

      Moravian Florist on 1.32 Acres

      Established florist business and real estate on 1.32 acres.
      2286 Richmond Rd, Staten Island, NY 10306
      View Details
    • $2,700,000
      3,780 SF

      Midland Ave Mixed-Use Investment

      Staten Island multi-tenant property, high NOI.
      0 Midland Ave, Staten Island, NY 10306
      View Details
    • $168,000
      1,254 SF

      Hylan Blvd Restaurant - $168K

      Prime Staten Island restaurant, high foot traffic.
      2226 Hylan Blvd, Staten Island, NY 10306
      View Details

    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
    • $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
    • 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
    • $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
    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.
    581 Midland Ave, Unit 589
    Staten Island, NY 10306-5929
    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

    Google sign-in failed. Please try again or use another login method.