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    Midland Ave Staten Island, NY 10306

    Sponsored
    For Sale
    $2,700,000

    Staten Island multi-tenant property, high NOI.

    Property size:
    3,780 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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 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

    HighLights

    • 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.
    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

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    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.
    Request Owner's contact information
    Midland Ave Staten Island, NY 10306
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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
    Midland Ave Staten Island, NY 10306
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