Vacant Staten Island
For Sale
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65 Union Avenue, Staten Island, NY 10303
Fully vacant triplex with separate entrances, meters, and large yard.
Property Size2,200 SF
Price / SF$331.82
Days on Market179
Property Features for 65 Union Avenue
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multifamily
Zoning
R3 A
Building Details
Year Built
1920
Stories
2
Units
2
Listing Agency:
Revolution Real Estate
Listed By:
Salvatore Taormina · License #000000
Source:
Crexi
Added: Feb 27
Changed: Aug 14
Last Checked: Aug 24 at 9:22PM
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 Revolution Real Estate
Investment Insights
Based on property information with market context.
This is a triplex property where each apartment has a separate entrance and separated meters. The driveway can accommodate four cars, and there is a large yard. The basement is accessible from the first floor or through a separate back entrance. A full attic is present and could potentially be converted into two additional bedrooms. The property is delivered fully vacant.
Key Highlights
- Fully vacant 6‑unit apartment building, ready for immediate occupancy or renovation.
- Separate entrances and meters for each apartment, simplifying management and tenant billing.
- Driveway with space for four cars, a valuable amenity.
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
$54,710
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
7.49%
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%
$1,094,200
$1.1M
Cap Rate 7%
$781,571
$781.6K
Cap Rate 9%
$607,889
$607.9K
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
$81.8K $37.20/SF
− Vacancy
−$3.7K −$1.67/SF
EGI
$78.2K $35.53/SF
− OpEx
−$23.4K −$10.66/SF
NOI
$54.7K $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%
$1,094,200
Cap Rate 7%
$781,571
Cap Rate 9%
$607,889
Alternative Uses
Best Use
Multifamily LT 5
$781.6K
$683.9K – $911.8K
NOI $54,710 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$697.0K
$609.8K – $813.1K
NOI $48,787 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.05M
$918.5K – $1.22M
NOI $73,480 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 10303, NY
28,155
Population
9,580
Households
2.9
Avg Household Size
34
Median Age
30%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
8,798
Density / Sq Mi
$79,429
Median Household Income
$49,072
Median Earnings
$1,520
Median Rent
$457,600
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?
Triplex - Fully vacant triplex with separate entrances, meters, and large yard.
Where is this triplex located?
The property is located at 65 Union Avenue Staten Island, NY.
What is the asking price?
The asking price for this property is $729,999.
What are key features of this property?
This property features: Fully vacant 6‑unit apartment building, ready for immediate occupancy or renovation.; Separate entrances and meters for each apartment, simplifying management and tenant billing.; Driveway with space for four cars, a valuable amenity.
