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Midland Ave Staten Island, NY 10306

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For Sale
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Staten Island multi-tenant property, high NOI.

Property size:
3,780 SF

Property Features for 0 Midland Ave

General Information

Property type
Mixed-use properties
Square Feet
3,780 SF
Class
B

Building Details

Year Built
2001
Buildings
4
Stories
2
Units
8

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Listing Contact
Richard Caruana
Richard Caruana

Listing Agency: Gateway Arms Realty Corp Listing Agent: Richard Caruana

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This exceptional mixed-use investment opportunity presents a fully occupied, eight-unit building situated on Midland Avenue in Staten Island, New York. The property, encompassing 3,780 square feet across four buildings on a 2,890 square foot lot, boasts a strong pro-forma NOI of $112,988 and a 4.18% cap rate. The building, constructed in 2001, features a unique configuration with each of the four addresses containing a commercial basement space, a ground floor retail unit, and an upper-level residential unit. Currently, the basements are used for storage, but planned sewer improvements offer significant upside potential, with estimated rental income increases of $48,000 to $72,000 annually. The property benefits from a prime location on a main thoroughfare, providing convenient access to public transportation, shopping, schools, and places of worship. Twelve parking spaces are available. All seven tenants are currently under a modified lease agreement and are responsible for their own utilities, with partial reimbursement to the landlord for taxes and water/sewer. The property is zoned C1-1. The asking price is $2,700,000 ($714.29/sq ft). While the lots are being sold as a single unit, the owner will consider separate sales. Pre-approval or proof of funds, along with a bona fide offer, is required for all showings.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Map

City
Staten Island
County
Richmond
State
New York
Longitude
-74.1004197
Latitude
40.5763985

FAQs

What type of property is this?
Mixed-use property - Staten Island multi-tenant property, high NOI.
Where is this mixed-use property located?
The property is located at Midland Ave Staten Island, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: High-potential rental income from future basement lease-up, estimated at $48,000-$72,000 annually.; Property offered as a single sale, but owner may consider separate lot sales.; Fully occupied building requires pre-approval/proof of funds and bona fide offer contingent on viewing for all showings.
(917) 658-7607 Call to check price and availability
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