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$ 2,399,000
Est. payment | /mo
4,000 SqFt
$ 2,399,000
Est. payment | /mo
4,000 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $599
MLS Listing ID 2506111
Year Built 1931
Annual Tax Amount $23,115
Lot Size 6,420 Sqft
Acres 0.15
Lot Dimensions 60x107
Property Sub-Type Commercial
Source Staten Island Multiple Listing Service
Property Description
Mixed-use investment package in Midland Beach—508 Midland Ave plus 857 & 859 Nugent Ave (BBL 3740-26)—offering 5 total units across 2 buildings on a 60×107 (6,420 SF) lot with an estimated ~4,000 SF of building area, individual gas and electric meters, gas/forced-air heat, and city sewer. The retail space fronts Midland Avenue, a primary thoroughfare connecting Hylan Blvd and Father Capodanno Blvd, providing strong drive-by visibility and consistent vehicular traffic ideal for neighborhood-serving uses. 2024 gross income is approximately 188,700 with operating expenses of approximately 37,689, resulting in an NOI of approximately 151,011. There is potential to optimize rents at renewal or turnover in accordance with applicable laws and lease terms. The 60×107 lot and site layout may also present paths for reconfiguration or additional units; prospective purchasers are encouraged to consult a licensed architect/expediter and the NYC Department of Buildings to evaluate feasibility for any expansion, alteration, or new construction. Showings by appointment only—please do not disturb occupants. Equal Housing Opportunity.
Location
State NY
County Richmond
Area Midland Beach
Zoning R-31
Interior
Heating Forced Air, Natural Gas
Cooling None
Building
Story 2
Sewer City
Level or Stories 2
Structure Type Other
New Construction No
Others
Tax ID 03740-0026
Listed ByRe/Max Edge
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DiTommaso Real Estate
Broker