508 Midland Avenue, Staten Island, NY, 10306
1931
Mixed-use investment package in Midland Beach—508 Midland Ave plus 857 & 859 Nugent Ave (BBL 3740-26)—offering five (5) total units across two (2) buildings on a 60×107 (6,420 SF) lot with approximately 4,000 SF of building area. The property features individual gas and electric meters, gas/forced-air heat, and city sewer. The retail space fronts Midland Avenue, a primary thoroughfare connecting Hylan Blvd and Father Capodanno Blvd, providing strong visibility and consistent vehicular traffic suitable for a variety of permitted commercial uses. The 2024 gross income is approximately $188,700, with operating expenses of approximately $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 60×107 lot and current layout may present potential for reconfiguration or additional units. Prospective purchasers are encouraged to perform their own due diligence and consult with a licensed architect, expediter, and the NYC Department of Buildings regarding any potential expansion, alteration, or development. Showings are by appointment only—please do not disturb occupants. Equal Housing Opportunity.
Status:
Active
Type:
Commercial
Heating:
Forced Air, Natural Gas
Cooling:
None
Parking:
On Street
Est. Taxes:
$23,115
Construction
Brick
Utilities
See Remarks
Days on Market:
1
MLS #:
979055
Community Info
School Info
Walk Score
Mass Transit
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Listing courtesy of RE/MAX Edge 718-288-3835