Corner Office
For Sale
$950,000
271 Kelly Boulevard, Staten Island, NY 10314
Office property set up for business use and positioned on a visible corner in central Staten Island.
Property Size3,000 SF
Price / SF$316.67
Days on Market246
Property Features for 271 Kelly Boulevard
General Information
Standard status
Active
Size
3,000 SF
Property subtype
MultiFamily
Building Details
Year Built
1975
Listing Agency:
RE/MAX Elite
(917) 757-9880
Listed By:
Timothy Foley · License #49FO0922811
(917) 757-9880
Source:
Compass
Added: Dec 4, 2025
Changed: Jul 23
Last Checked: Jul 24 at 1:18PM
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 RE/MAX Elite
Investment Insights
Based on property information with market context.
271 Kelly Boulevard is an office property located in central Staten Island. The building is currently zoned and set up as an office, with a configuration intended for business use.
The site’s position on a visible corner and the lot characteristics support a range of potential uses, including holding for income, owner-occupancy, or redeveloping for conversion to multi-family subject to zoning.
Prospective buyers should review the zoning and intended use and schedule a viewing to confirm fit and future development considerations.
The site’s position on a visible corner and the lot characteristics support a range of potential uses, including holding for income, owner-occupancy, or redeveloping for conversion to multi-family subject to zoning.
Prospective buyers should review the zoning and intended use and schedule a viewing to confirm fit and future development considerations.
Key Highlights
- Office property currently zoned and set up for business use
- Visible corner location in central Staten Island
- Brick and vinyl siding exterior
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
$76,845
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
8.09%
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%
$1,536,900
$1.5M
Cap Rate 7%
$1,097,786
$1.1M
Cap Rate 9%
$853,833
$853.8K
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
$128.9K $42.96/SF
− Vacancy
−$26.4K −$8.81/SF
EGI
$102.5K $34.15/SF
− OpEx
−$25.6K −$8.54/SF
NOI
$76.8K $25.61/SF
Area
ZIP 10314
Vacancy
20.50%
Lease Rate
$42.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,536,900
Cap Rate 7%
$1,097,786
Cap Rate 9%
$853,833
Alternative Uses
Best Use
Office B
$1.10M
$960.6K – $1.28M
NOI $76,845 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,201 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 10314, NY
92,157
Population
33,554
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
7,089
Density / Sq Mi
$104,655
Median Household Income
$58,769
Median Earnings
$1,726
Median Rent
$665,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property set up for business use and positioned on a visible corner in central Staten Island.
Where is this office building located?
The property is located at 271 Kelly Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Office property currently zoned and set up for business use; Visible corner location in central Staten Island; Brick and vinyl siding exterior
