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    586 Bay St Staten Island, NY 10304

    Sponsored
    For Sale
    $1,300,000

    Prime location, strong rental income.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional mixed-use property, located at 586 Bay St, Staten Island, NY 10304, presents a lucrative investment opportunity. The building, constructed in 2002, boasts a 4,349 sq ft lot and a substantial 6,690 sq ft of climate-controlled space. The first floor houses a thriving commercial space currently leased as a gym, generating a monthly income of $4,600 with built-in rent increases. The second floor features two completely renovated, two-bedroom, two-bathroom apartments, each commanding monthly rents of $1,600 and $1,700 respectively. All units are individually metered for utilities, simplifying management. The building's sturdy cinder block construction ensures durability and longevity. The property is zoned C4-2, offering flexibility for future uses. This turnkey investment is ideal for savvy investors seeking a stable, high-yield return. The asking price is $1,300,000. This represents a compelling opportunity to acquire a well-maintained, income-producing asset in a desirable Staten Island location.

    Property Features for 586 Bay St

    General Information

    Property type
    Manufacturing properties

    Building Details

    Year Built
    2002

    HighLights

    • Mixed‑use building in Stapleton for sale at $1.3M.
    • Features a newly renovated, 2‑unit, 2‑bedroom/2‑bathroom apartment building and a large commercial space.
    • Commercial space (gym) currently leased at $4,600/month with rent increases built in.
    • Apartments are leased at $1,600 and $1,700/month respectively.
    • 6,690 square feet of climate‑controlled space.
    • Tenants pay their own utilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sweatbox Staten Island Boxing Gym

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    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
    -74.076361
    Latitude
    40.627423

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    FAQs

    What type of property is this?
    Manufacturing property - Prime location, strong rental income.
    Where is this manufacturing property located?
    The property is located at 586 Bay St Staten Island, NY.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Mixed-use building in Stapleton for sale at $1.3M.; Features a newly renovated, 2-unit, 2-bedroom/2-bathroom apartment building and a large commercial space.; Commercial space (gym) currently leased at $4,600/month with rent increases built in.
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    Realmo Value Estimation

    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.

    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.

    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
    586 Bay St Staten Island, NY 10304
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