Midland Beach Mixed-Use
508 Midland Ave Staten Island, NY 10306
508 Midland Ave, Staten Island, NY, 10306
$2,399,000
For Sale
$2,399,000
Five units across two buildings in Midland Beach.
Property Size4,000 SF
Lot Size0.15 Acres
Price / SF$599.75
Days on Market95
Property Features for 508 Midland Ave
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.15 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1931
Listing Agency
(718) 510-2606
Listed by
Thomas Smith
(718) 510-2606
Source
Elliman
Added: Apr 15 Checked: Jul 17 at 6:44 pm
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 Thomas Smith
Investment Insights
Based on property information with market context.
This mixed-use investment package in Midland Beach includes 508 Midland Ave plus 857 & 859 Nugent Ave, featuring five total units across two buildings. Situated on a 60x107 (6,420 SF) lot, the property offers approximately 4,000 SF of building area. The property is equipped with individual gas and electric meters, gas/forced-air heat, and city sewer. The retail space faces Midland Avenue, a main road connecting Hylan Blvd and Father Capodanno Blvd, ensuring high visibility and consistent vehicular traffic suitable for various commercial uses. The 2024 gross income is approximately $188,700, with operating expenses around $37,689, resulting in a net operating income (NOI) of approximately $151,011. There may be opportunities to adjust rents over time in accordance with applicable laws, regulations, and existing lease terms. The 60x107 lot and current layout may present potential for reconfiguration or additional units. The location has a bike score of 63, indicating it is bikeable, a walk score of 82, indicating it is very walkable, and a transit score of 69, indicating good transit.
Key Highlights
- High Net Operating Income (NOI) of approximately $151,011
- Prime location on Midland Avenue with strong visibility and consistent vehicular traffic
- Mixed‑use investment package with five (5) total units across two (2) buildings
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.4k | $33.60 |
| − Vacancy | −$11.4k | −$2.86 |
| EGI | $123.0k | $30.74 |
| − OpEx | −$36.9k | −$9.22 |
| NOI | $86.1k | $21.52 |
4,000 SF · lease $33.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.43M
NOI $86,083 @ 7.0% cap · market cap 3.59%
Second Best
Mixed Use
$1.17M
$1.02M – $1.37M
NOI $81,900 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,601 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
New All Night ...
Food Market
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Five units across two buildings in Midland Beach.
Where is this mixed-use property located?
The property is located at 508 Midland Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: High Net Operating Income (NOI) of approximately $151,011; Prime location on Midland Avenue with strong visibility and consistent vehicular traffic; Mixed‑use investment package with five (5) total units across two (2) buildings
