Value-Add/User - Retail w/40-Car Parking Lot | 1674-1696 Richmond Rd
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Value-Add/User - Retail w/40-Car Parking Lot 1674-1696 Richmond Rd
9,400 SF 44% Leased Retail Building Staten Island, NY 10304 $9,922,290 CAD ($1,056 CAD/SF) 2.51% Cap Rate
Investment Highlights
- 52% Occupied, 11,118 SF Shopping Center with Six Tenants, 200 Feet of Retail Frontage
- Each Tenant Comes With a Full Lowe-Level - Not Reflected in Advertised Rentable SF
- Two Contiguous Vacant Spaces Presents an Upside for Investors/Users Seeking Value-Add Opportunity
- Property has a 40-Car Rear Parking Lot -Rare NYC Multi-Tenant Retail With Parking
Executive Summary
Marcus & Millichap is pleased to present for sale 1674-1696 Richmond Road in Staten Island, New York. This is an 11,118 square foot, value-add shopping strip consisting of six stores. The property is currently 52 percent occupied with four occupied stores, and two contiguous vacant spaces totaling 5,300 square feet.
Every space has a full lower level not reflected in the rentable square footage. The property rests on a 27,000 square foot lot with a rear parking lot that can accommodate up to 40 cars. The property is zoned R3-1/C1-1, and it has 200 feet of retail frontage along Richmond Road, a strong retail corridor connecting the Dongan Hills and Todt Hill areas. The property is located directly across the street from a brand-new Starbucks and a brand-new Fine Fare Supermarket. It is surrounded by local retailers, and it benefits from outstanding Staten Island demographics and traffic counts.
This is an opportunity for an investor to create value by leasing up/renovating the current vacant units, or for a user looking to occupy 5,300 SF of on-grade retail with 5,300 SF of additional lower-level space.
Every space has a full lower level not reflected in the rentable square footage. The property rests on a 27,000 square foot lot with a rear parking lot that can accommodate up to 40 cars. The property is zoned R3-1/C1-1, and it has 200 feet of retail frontage along Richmond Road, a strong retail corridor connecting the Dongan Hills and Todt Hill areas. The property is located directly across the street from a brand-new Starbucks and a brand-new Fine Fare Supermarket. It is surrounded by local retailers, and it benefits from outstanding Staten Island demographics and traffic counts.
This is an opportunity for an investor to create value by leasing up/renovating the current vacant units, or for a user looking to occupy 5,300 SF of on-grade retail with 5,300 SF of additional lower-level space.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
9,400 SF
Building Class
B
Year Built
1950
Price
$9,922,290 CAD
Price Per SF
$1,056 CAD
Cap Rate
2.51%
NOI
$249,112 CAD
Percent Leased
44%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Land Acres
0.60 AC
Zoning
R3-1/C1-1 - commercial/retail
Parking
50 Spaces (5.32 Spaces per 1,000 SF Leased)
Frontage
200 ft on Richmond Rd
Amenities
- Signage
- Storage Space
- Air Conditioning
Walk Score ®
Very Walkable (87)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 03531-0009 | Improvements Assessment | $662,110 CAD |
| Land Assessment | $508,350 CAD | Total Assessment | $1,170,460 CAD |
PROPERTY TAXES
Parcel Number
03531-0009
Land Assessment
$508,350 CAD
Improvements Assessment
$662,110 CAD
Total Assessment
$1,170,460 CAD
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Scott Plasky -
Marcus & Millichap
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Value-Add/User - Retail w/40-Car Parking Lot | 1674-1696 Richmond Rd
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