Renovated Three-Unit
For Sale
$1,150,000
Pending
210 Corson Ave, Staten Island, NY 10301
Vacant multifamily property with three apartments, a basement, and a defined unit mix for rental or owner-occupant use.
Property Size3,473 SF
Days on Market208
Property Features for 210 Corson Ave
General Information
Standard status
Pending
Size
3,473 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR
Multifamily Units
3
Additional Details
Asking Price
$1,150,000
Building Details
Year Built
2018
Buildings
1
Listing Agency:
Homes R Us Realty of NY, Inc.
(917) 856-2012
Listed By:
Gennady Gary Papirov · License #30PA0885250
Source:
Statenislandhomelistings
Added: Feb 3
Changed: Aug 28
Last Checked: Aug 29 at 10:29AM
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 Homes R Us Realty of NY, Inc.
Investment Insights
Based on property information with market context.
Located at 210 Corson Ave in Staten Island, this legal three-family property contains approximately 3,473 square feet and is being delivered vacant. The building was constructed in 2018 and has been fully renovated, with two matching upper-floor apartments offering three bedrooms and one bath each, plus a two-bedroom apartment on the first floor.
A full unfinished basement provides storage space within the existing structure. The property’s three-unit configuration supports separate apartment occupancy, while the vacant delivery allows the next owner to establish its own leasing plan. The source information also indicates an 8.8 cap rate based on projected operating performance.
A full unfinished basement provides storage space within the existing structure. The property’s three-unit configuration supports separate apartment occupancy, while the vacant delivery allows the next owner to establish its own leasing plan. The source information also indicates an 8.8 cap rate based on projected operating performance.
Key Highlights
- Legal three‑family building with approximately 3,473 square feet
- Two 3‑bedroom, 1‑bath apartments plus one 2‑bedroom apartment
- Fully renovated and delivered completely vacant
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
$86,367
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
7.51%
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%
$1,727,340
$1.7M
Cap Rate 7%
$1,233,814
$1.2M
Cap Rate 9%
$959,633
$959.6K
Market Conditions
NOI Build-Up for 3,473 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
$129.2K $37.20/SF
− Vacancy
−$5.8K −$1.67/SF
EGI
$123.4K $35.53/SF
− OpEx
−$37.0K −$10.66/SF
NOI
$86.4K $24.87/SF
Area
Staten Island, NY
Vacancy
4.50%
Lease Rate
$37.20 /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%
$1,727,340
Cap Rate 7%
$1,233,814
Cap Rate 9%
$959,633
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,367 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$1.10M
$962.7K – $1.28M
NOI $77,017 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,999 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 10301, NY
41,474
Population
16,631
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
10,914
Density / Sq Mi
$84,937
Median Household Income
$50,140
Median Earnings
$1,697
Median Rent
$657,000
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?
Triplex - Vacant multifamily property with three apartments, a basement, and a defined unit mix for rental or owner-occupant use.
Where is this triplex located?
The property is located at 210 Corson Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Legal three‑family building with approximately 3,473 square feet; Two 3‑bedroom, 1‑bath apartments plus one 2‑bedroom apartment; Fully renovated and delivered completely vacant
