Multifamily Property with Trex
For Sale
$1,188,888
370 Atlantic Ave, Staten Island, NY 10305
Updated kitchen, fenced yard, garage, carport, and private driveway provide flexible indoor-outdoor utility.
Property Size2,200 SF
Price / SF$540.40
Days on Market31
Property Features for 370 Atlantic Ave
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
hardwood floors
central air conditioning
natural gas heating
Trex deck
patio
fully fenced backyard
Building Details
Year Built
1988
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Shan Su
Source:
Statenislandhomelistings
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 30 at 6:11PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Classified as a multifamily property, this 2,200-square-foot residence was built in 1988 and features an open interior layout with a formal living area and an eat-in kitchen. Recent improvements include quartz counters, a center island, and a new sliding door connecting the kitchen to the Trex deck and patio. Hardwood flooring, central air conditioning, and natural gas heat add to the interior specifications.
Exterior amenities include a fully enclosed backyard, built-in garage, private driveway, and oversized carport for off-street parking. The property is located at 370 Atlantic Ave in Staten Island, with shopping, restaurants, schools, parks, major highways, and public transportation described as nearby. Hylan Blvd S79 Select Bus Service provides access to Brooklyn in approximately 15 minutes.
Exterior amenities include a fully enclosed backyard, built-in garage, private driveway, and oversized carport for off-street parking. The property is located at 370 Atlantic Ave in Staten Island, with shopping, restaurants, schools, parks, major highways, and public transportation described as nearby. Hylan Blvd S79 Select Bus Service provides access to Brooklyn in approximately 15 minutes.
Key Highlights
- 2,200‑square‑foot multifamily property built in 1988
- Updated eat‑in kitchen with quartz countertops and center island
- Trex deck and patio connected by a new sliding glass door
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
$53,143
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
4.47%
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%
$1,062,860
$1.1M
Cap Rate 7%
$759,186
$759.2K
Cap Rate 9%
$590,478
$590.5K
Market Conditions
NOI Build-Up for 2,200 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
$105.6K $48.00/SF
− Vacancy
−$9.0K −$4.08/SF
EGI
$96.6K $43.92/SF
− OpEx
−$43.5K −$19.76/SF
NOI
$53.1K $24.16/SF
Area
ZIP 10305
Vacancy
8.50%
Lease Rate
$48.00 /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%
$1,062,860
Cap Rate 7%
$759,186
Cap Rate 9%
$590,478
Alternative Uses
Best Use
Apartment 5plus
$759.2K
$664.3K – $885.7K
NOI $53,143 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$918.5K – $1.22M
NOI $73,480 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,481
Businesses Nearby
Explore this area
Business Placement
Demographics for 10305, NY
44,008
Population
16,850
Households
2.6
Avg Household Size
41
Median Age
32%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
11,002
Density / Sq Mi
$86,294
Median Household Income
$52,183
Median Earnings
$1,656
Median Rent
$627,200
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 - Updated kitchen, fenced yard, garage, carport, and private driveway provide flexible indoor-outdoor utility.
Where is this multifamily property located?
The property is located at 370 Atlantic Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $1,188,888.
What are key features of this property?
This property features: 2,200‑square‑foot multifamily property built in 1988; Updated eat‑in kitchen with quartz countertops and center island; Trex deck and patio connected by a new sliding glass door
