Spacious Multi-Family Home in New
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128 Weed Avenue, Staten Island, NY 10306
Multi-family property in Staten Island's New Dorp neighborhood.
Property Size3,000 SF
Price / SF$333.33
Days on Market102
Property Features for 128 Weed Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multifamily
Zoning
R3-1
Building Details
Year Built
1950
Listing Agency:
REMAX EDGE
(347) 466-1777
Listed By:
Cynthia Mora · License #NY 10401320699
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Aug 8 at 7:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX EDGE
Investment Insights
Based on property information with market context.
Located in the New Dorp neighborhood of Staten Island, this multi-family property offers potential for end-users and investors. The property features living space, multiple bedrooms, and a flexible layout, suitable for extended families or rental income. Situated on an oversized lot with private parking and outdoor space, the property is close to shopping, dining, transportation, and schools, and is located minutes from the Verrazano Bridge. The property offers opportunities to renovate, customize, or invest. The property contains 3,000 square feet.
Key Highlights
- Multi‑family property in the desirable New Dorp neighborhood.
- Potential for rental income or extended family living.
- Oversized lot with private parking and outdoor space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,716
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,354,320
$1.4M
Cap Rate 7%
$967,371
$967.4K
Cap Rate 9%
$752,400
$752.4K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$129.6K $43.20/SF
− Vacancy
−$6.5K −$2.16/SF
EGI
$123.1K $41.04/SF
− OpEx
−$55.4K −$18.47/SF
NOI
$67.7K $22.57/SF
Area
ZIP 10306
Vacancy
5.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,354,320
Cap Rate 7%
$967,371
Cap Rate 9%
$752,400
Alternative Uses
Best Use
Apartment 5plus
$967.4K
$846.5K – $1.13M
NOI $67,716 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,201 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-family property in Staten Island's New Dorp neighborhood.
Where is this multifamily property located?
The property is located at 128 Weed Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $999,997.
What are key features of this property?
This property features: Multi‑family property in the desirable New Dorp neighborhood.; Potential for rental income or extended family living.; Oversized lot with private parking and outdoor space.
