Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    508 Midland Ave Staten Island, NY 10306

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,399,000

    Five units across two buildings in Midland Beach.

    Type:Commercial
    Property size:
    4,000 SF
    Lot size:
    0.15 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 1 at 4:37 am

    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

    We can help!

    Listing Contact
    Thomas Smith
    Thomas Smith

    Listing agent Thomas Smith

    Listing office

    Listing date Apr 15, 2026

    Source Elliman

    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

    Overview

    Midland Beach Mixed-Use Investment

    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.
    Location Intelligence

    Current Use by Public Records

    New All Night ... Food Market

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Staten Island
    County
    Richmond
    State
    New York
    Longitude
    -74.095449
    Latitude
    40.573286

    Nearby Similar for Sale

    • $850,000
      1,612 SF

      Staten Island Commercial Opportunity

      Versatile commercial property with potential for residential conversion.
      1562 Drumgoole Road E, Staten Island, NY 10309
      View Details
    • $950,000

      Staten Island Medical Office Building

      Medical office building with high visibility in prime location.
      3767 Richmond Ave, Staten Island, NY 10312
      View Details
    • $1,450,000
      3,200 SF

      Versatile Staten Island Commercial Property

      Single-story commercial building with office space and high ceilings.
      360 Broadway, Staten Island, NY 10310
      View Details
    • $2,488,888
      5,600 SF

      Prime Commercial Asset with Drive-Thru

      Standalone building in New Dorp business corridor with high visibility.
      257 New Dorp Lane, Staten Island, NY 10306
      View Details
    • $70,000
      1,500 SF

      Established Asian Restaurant Business Opportunity

      Turn-key Asian restaurant business for sale in Staten Island.
      1351 Forest Avenue, Staten Island, NY 10302
      View Details
    • $280,000
      1,600 SF

      Established Gift Shop on Staten

      Turnkey gift shop with high profit margin for sale.
      933 Richmond Avenue, Staten Island, NY 10314
      View Details
    • $999,000
      3,542 SF

      Staten Island Multifamily Opportunity

      Three-unit property with potential for additional income.
      7355 Amboy Road, Staten Island, NY 10307
      View Details
    • $4,500,000
      11,250 SF

      Staten Island Commercial Building For Sale

      Commercial building near downtown St George, high-traffic location.
      526 Richmond Terrace, Staten Island, NY 10301
      View Details
    • $1,490,000

      Staten Island Mixed-Use Investment

      Vacant mixed-use building near Verrazano Bridge with high potential.
      233 Sand Lane, Staten Island, NY 10305
      View Details
    • $895,999
      1,920 SF

      Staten Island Two-Family Home

      Two-family home with yard, driveway, and studio apartment.
      66 Plumtree Lane, Staten Island, NY 10309
      View Details
    • $799,999
      2,250 SF

      Staten Island Two-Family Home

      Two-family home with income potential in a desirable location.
      43 Rockland Avenue, Staten Island, NY 10306
      View Details
    • $699,000
      1,182 SF

      Beachside Dual Detached Homes

      Rare property featuring two detached homes in Midland Beach.
      566 Hunter Avenue, Staten Island, NY 10306
      View Details

    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
    (718) 510-2606
    We can help!
    Listing Contact
    Thomas Smith
    Thomas Smith
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!