Vacant Two-Family Duplex with
For Sale
Contact for pricing
53 Luke Court, Staten Island, NY 10306
Two separate residences and finished lower-level space offer flexible occupancy options.
Property Size2,366 SF
Lot Size0.06 Acres
Price / SF$295.65
Days on Market9
Property Features for 53 Luke Court
General Information
Standard status
Active
Size
2,366 SF
Lot size
0.06 Acres
Property subtype
Multifamily
Zoning
R3-2
Building Details
Year Built
1986
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Tom Crimmins Realty, Ltd.
Listed By:
Ross Buxbaum · License #40BU1069624
(718) 619-7976
Source:
Crexi
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 2:16PM
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 Tom Crimmins Realty, Ltd.
Investment Insights
Based on property information with market context.
This vacant duplex contains two distinct residences, each arranged with 2 bedrooms and 1 bathroom. The property also includes a full finished basement with an additional bathroom and a separate side entrance, creating flexible space for recreation, extended-family use, or a home office. Any additional living accommodations would remain subject to required approvals and applicable zoning and building requirements.
The property occupies a 25 x 113 lot totaling 2,825 sq. ft. It was built in 1986 and is located in Staten Island, NY 10306. R3-2 zoning supports the property's two-family configuration as described in the listing information.
The property occupies a 25 x 113 lot totaling 2,825 sq. ft. It was built in 1986 and is located in Staten Island, NY 10306. R3-2 zoning supports the property's two-family configuration as described in the listing information.
Key Highlights
- Two vacant 2‑bedroom, 1‑bathroom units
- Full, finished basement with an additional bathroom
- Basement includes a convenient side entrance
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
$60,100
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
8.59%
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%
$1,202,000
$1.2M
Cap Rate 7%
$858,571
$858.6K
Cap Rate 9%
$667,778
$667.8K
Market Conditions
NOI Build-Up for 2,366 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
$90.9K $38.40/SF
− Vacancy
−$5.0K −$2.11/SF
EGI
$85.9K $36.29/SF
− OpEx
−$25.8K −$10.89/SF
NOI
$60.1K $25.40/SF
Area
ZIP 10306
Vacancy
5.50%
Lease Rate
$38.40 /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%
$1,202,000
Cap Rate 7%
$858,571
Cap Rate 9%
$667,778
Alternative Uses
Best Use
Multifamily LT 5
$858.6K
$751.3K – $1.00M
NOI $60,100 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$762.9K
$667.6K – $890.1K
NOI $53,405 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.13M
$987.8K – $1.32M
NOI $79,025 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 10306, NY
57,919
Population
21,299
Households
2.7
Avg Household Size
43
Median Age
34%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
8,044
Density / Sq Mi
$97,746
Median Household Income
$54,052
Median Earnings
$1,743
Median Rent
$675,400
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 separate residences and finished lower-level space offer flexible occupancy options.
Where is this duplex located?
The property is located at 53 Luke Court Staten Island, NY.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Two vacant 2‑bedroom, 1‑bathroom units; Full, finished basement with an additional bathroom; Basement includes a convenient side entrance
