Two-Family Residential Income
For Sale
Contact for pricing
480 Butler Boulevard, Staten Island, NY 10309
Well-appointed two-family home with a grand foyer and high-end finishes throughout, in Staten Island’s Richmond Valley area.
Property Size7,500 SF
Price / SF$373.33
Days on Market152
Property Features for 480 Butler Boulevard
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Multifamily
Zoning
R3X
Additional Details
Multifamily Units
2
Building Details
Year Built
2024
Stories
2
Units
2
Listing Agency:
Century 21 Standard Real Estate
Listed By:
Herman Herrera · License #10491202518
Source:
Crexi
Added: Mar 27
Changed: Aug 13
Last Checked: Aug 24 at 9:18PM
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 Century 21 Standard Real Estate
Investment Insights
Based on property information with market context.
This two-family residential income property offers an upscale interior highlighted by a grand foyer, sun-drenched living spaces, and high-end finishes with custom craftsmanship throughout. The layout is designed for comfortable separate living within a single building.
Located in the Richmond Valley section of Staten Island, the home is described as being moments from the beach, shopping, restaurants, schools, and houses of worship. Address: 480 Butler Boulevard, Staten Island, NY 10309.
Located in the Richmond Valley section of Staten Island, the home is described as being moments from the beach, shopping, restaurants, schools, and houses of worship. Address: 480 Butler Boulevard, Staten Island, NY 10309.
Key Highlights
- Year built: 2024
- Two‑family home in Staten Island’s Richmond Valley area
- Grand foyer
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
$186,512
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
6.66%
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%
$3,730,240
$3.7M
Cap Rate 7%
$2,664,457
$2.7M
Cap Rate 9%
$2,072,356
$2.1M
Market Conditions
NOI Build-Up for 7,500 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
$279.0K $37.20/SF
− Vacancy
−$12.6K −$1.67/SF
EGI
$266.4K $35.53/SF
− OpEx
−$79.9K −$10.66/SF
NOI
$186.5K $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%
$3,730,240
Cap Rate 7%
$2,664,457
Cap Rate 9%
$2,072,356
Alternative Uses
Best Use
Multifamily LT 5
$2.66M
$2.33M – $3.11M
NOI $186,512 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$2.38M
$2.08M – $2.77M
NOI $166,320 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,502 @ 7.0% cap · market cap 8.95%
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
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 10309, NY
33,523
Population
12,770
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
92%
High-School Grad
7.3 sq mi
ZIP Area
4,592
Density / Sq Mi
$123,638
Median Household Income
$67,348
Median Earnings
$1,907
Median Rent
$745,500
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 - Well-appointed two-family home with a grand foyer and high-end finishes throughout, in Staten Island’s Richmond Valley area.
Where is this duplex located?
The property is located at 480 Butler Boulevard Staten Island, NY.
What is the asking price?
The asking price for this property is $2,799,999.
What are key features of this property?
This property features: Year built: 2024; Two‑family home in Staten Island’s Richmond Valley area; Grand foyer
