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$ 1,950,000
Est. payment | /mo
11,400 SqFt
$ 1,950,000
Est. payment | /mo
11,400 SqFt
Key Details
Property Type Mixed Use
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 11,400 sqft
Price per Sqft $171
MLS Listing ID 505064
Year Built 1931
Annual Tax Amount $34,000
Property Sub-Type Mixed Use
Property Description
Prime Mixed-Use Investment Opportunity. 100% Leased Turn-Key Asset with Cap Rate / ROI: Over 7%. Gross Annual Income: $217,176. An exceptionally stable, high-yield mixed-use property in a high-demand Staten Island location. Built on a commanding 38' x 100' footprint spanning 11,400 sq. ft., this fully brick, low-maintenance building is 100% occupied and features a perfectly balanced mix of multi-family housing and long-term retail anchors. Guaranteed Multi-Family Income: 8 fully leased, rent-stabilized apartments (4 two-bedroom and 4 one-bedroom units) providing exceptional tenant retention, predictable rent rolls • Anchored Commercial Storefronts: 2 highly successful retail spaces including a long-term Laundromat ($3,395/mo; 7 years remaining + 5-year option) and a neighborhood Grocery Store ($3,500/mo; 3 years remaining) • 100% Inflation-Protected Compound Growth: Highly rare lease structures where every single residential and commercial tenant in the building has a built-in 3% annual rent escalation clause, guaranteeing compound revenue growth across the entire asset • Strong Net Financials: Gross Income of $217,176/year against low operating expenses of $62,600/year (Taxes: $34k, Utilities/Ins/Maint: $28.6k). Situated on a high-visibility corner with excellent foot traffic, immediate transit access, and strong neighborhood demographics, this turn-key asset is an ideal fit for 1031 exchange buyers or portfolio expansion.
Location
State NY
County Staten Island
Area Port Richmond
Zoning R3A
Rooms
Basement Full
Interior
Interior Features Other
Hot Water Hot Water Coil in Boiler
Heating Gas
Flooring Hardwood, Tile
Heat Source Gas
Exterior
Exterior Feature Brick
Roof Type Flat
Building
Story 3
Foundation Poured Concrete
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by Re/Max Real Estate Professiona
NEARBY SCHOOL & BUSINESS
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