Staten Island Multifamily Investment
For Sale
Contact for pricing
30-32 Nicholas Street, Staten Island, NY 10301
Two 2-family homes, four units, prime location, value-add potential.
Property Size2,829 SF
Price / SF$547.90
Days on Market110
Property Features for 30-32 Nicholas Street
General Information
Standard status
Active
Size
2,829 SF
Property subtype
Multifamily
Zoning
R3A
Building Details
Year Built
1931
Stories
2
Units
4
Listed By:
Allison Mireau · License #New York
Source:
Crexi
Added: May 19
Changed: Aug 31
Last Checked: Sep 1 at 3:59AM
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 Allison Mireau
Investment Insights
Based on property information with market context.
This property features two semi-attached, two-family homes situated on two lots, offering a total of four income-producing units. Each apartment has a 6-room layout that includes 3 bedrooms, 1 full bath, a living room, a dining room, and a kitchen. One of the buildings is tenant-occupied on a month-to-month basis with below-market rents, while the other is renovated, vacant, and includes a finished basement. The property also includes a shared backyard and three garages suitable for parking, storage, or potential income generation. One unfinished basement presents future value-add possibilities, with permits already secured to finish the space, subject to approvals and buyer verification. Located in a convenient Staten Island location near the Staten Island Ferry, courthouses, Empire Outlets, restaurants, shopping, and transportation, the property is positioned for rental demand and long-term value. The total property size is 2829 square feet. Intended uses include expanding a real estate portfolio, generating cash flow, or establishing a live-and-rent arrangement. NYC zoning and use should always be verified through official records.
Key Highlights
- Four income‑producing units across two 2‑family homes on two lots.
- Renovated, vacant unit at 32 Nicholas with finished basement ready for immediate occupancy or rental.
- Three garages for parking, storage, or potential rental income.
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
$70,352
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
4.54%
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%
$1,407,040
$1.4M
Cap Rate 7%
$1,005,029
$1.0M
Cap Rate 9%
$781,689
$781.7K
Market Conditions
NOI Build-Up for 2,829 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
$105.2K $37.20/SF
− Vacancy
−$4.7K −$1.67/SF
EGI
$100.5K $35.53/SF
− OpEx
−$30.2K −$10.66/SF
NOI
$70.4K $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%
$1,407,040
Cap Rate 7%
$1,005,029
Cap Rate 9%
$781,689
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$879.4K – $1.17M
NOI $70,352 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$896.2K
$784.2K – $1.05M
NOI $62,736 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,489 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
995
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?
Duplex - Two 2-family homes, four units, prime location, value-add potential.
Where is this duplex located?
The property is located at 30-32 Nicholas Street Staten Island, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Four income‑producing units across two 2‑family homes on two lots.; Renovated, vacant unit at 32 Nicholas with **finished basement ready for immediate occupancy or rental.**; Three garages for parking, storage, or potential rental income.
