Two-Family Hi-Ranch
For Sale
Contact for pricing
Pending
216 Justin Avenue, Staten Island, NY 10306
Semi-attached residential income property with a finished basement, private pool, and attached garage.
Property Size1,800 SF
Lot Size0.09 Acres
Days on Market593
Property Features for 216 Justin Avenue
General Information
Standard status
Pending
Size
1,800 SF
Total Parking Spaces
1
Lot size
0.09 Acres
Property subtype
Multifamily
Zoning
R31
Units
Unit Mix
2 BR APT, 3 BEDROOMS
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
pool
Building Details
Year Built
1987
Buildings
1
Stories
2
Units
1
Construction
semi attached Hi Ranch
Listing Agency:
United National Realty
Listed By:
Igor Baboshkin · License #10401272360
(718) 979-8000
Source:
Crexi
Added: Jan 20, 2025
Changed: Sep 2
Last Checked: Sep 1 at 3:53AM
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 United National Realty
Investment Insights
Based on property information with market context.
This two-family, semi-attached hi-ranch property was built in 1987 and offers a five-bedroom configuration. The main residence includes a living room, dining area, kitchen, three bedrooms, and a full bathroom with jacuzzi and bidet. A separate two-bedroom apartment is located on the entry level, which also provides access to the attached one-car garage. The main unit includes a full finished basement with a three-quarter bathroom and bidet.
The property measures 29 by 141 feet and includes a backyard pool. It is zoned R31 and is located near bus and train transportation, with Great Kills beach nearby. The main unit and basement are occupied through 3.25.2025, with showings scheduled on a second appointment.
The property measures 29 by 141 feet and includes a backyard pool. It is zoned R31 and is located near bus and train transportation, with Great Kills beach nearby. The main unit and basement are occupied through 3.25.2025, with showings scheduled on a second appointment.
Key Highlights
- Two‑family semi‑attached hi‑ranch property with five bedrooms
- 29 by 141‑foot property with backyard pool
- Full finished basement with three‑quarter bathroom and bidet
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
$45,723
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
5.75%
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%
$914,460
$914.5K
Cap Rate 7%
$653,186
$653.2K
Cap Rate 9%
$508,033
$508.0K
Market Conditions
NOI Build-Up for 1,800 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
$69.1K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$65.3K $36.29/SF
− OpEx
−$19.6K −$10.89/SF
NOI
$45.7K $25.40/SF
Area
ZIP 10306
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
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%
$914,460
Cap Rate 7%
$653,186
Cap Rate 9%
$508,033
Alternative Uses
Best Use
Multifamily LT 5
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$580.4K
$507.9K – $677.2K
NOI $40,630 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$858.9K
$751.5K – $1.00M
NOI $60,120 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
362
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?
Duplex - Semi-attached residential income property with a finished basement, private pool, and attached garage.
Where is this duplex located?
The property is located at 216 Justin Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two‑family semi‑attached hi‑ranch property with five bedrooms; 29 by 141‑foot property with backyard pool; Full finished basement with three‑quarter bathroom and bidet
