585 Bay Street, Staten Island, NY 10304

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$1,350,555
Active for Sale
 
Listing ID 11363094
Property Type Commercial Building
Commercial Type Storefront Retail/Residential
County Richmond
Township Staten Island
Neighborhood Stapleton Heights
FEMA Flood Map fema.gov/portal
Year Built 1910
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1 of a Kind! Store + Office + 2 residential units Prime Location

Amazing Opportunity in Stapleton, Staten Island!! Corner mixed-use Brick Building in a high traffic location. Great visibility, long term retail tenant, with development potential. The back extension part of the building was reconstructed 5 years ago with a new roof and parapet walls. The 2nd floor 2 bedroom apartment is newly renovated with high-end kitchen and appliances with beautiful hardwood floors and fashionable brick wall in bedroom. The apartment features high efficiency fujitsu split units for heating and cooling and 2 in 1 washer/dryer. The 3rd floor is a 3 bedroom with 1 bath with a long term Section 8 tenant. Tenant pays small portion of rent. A real money maker as-is, but has a lot of additional potential. This property will benefit from the new zoning proposed in the "city of yes" initiative, expected to be passed in the coming months. The back of the store is currently vacant and has private access with a side entrance. The building is fitted with 2 Navien high-efficiency tankless water heaters and a Kohler 14 KW natural gas generator sits atop of the extension roof, and is scheduled to be connected to the new gas line in 30 days. At present the property operates comfortably at a 8% cap rate.
Property Details
  • 2 Full Baths
  • 1 Half Bath
  • 4710 SF
  • 2310 SF Lot
  • Built in 1910
  • Renovated 2010
  • 3 Stories
  • Available 11/11/2024
  • Partial Basement
  • Lower Level: Unfinished
Unit Information
Unit #1 – Storefront Retail/Office, Rent Price: 3000, Half Baths: 1, Occupied
Unit #2 – Office/Storefront Retail, Rent Price: 2000, Half Baths: 1
Unit #3 – Residential Income, Rent Price: 2800, Bedrooms: 2, Full Baths: 1, Occupied
Unit #4 – RESIDENTIAL_INCOME, Rent Price: 2850, Bedrooms: 3, Full Baths: 1, Occupied
Interior Features
  • Carpet Flooring
  • Ceramic Tile Flooring
  • Vinyl Flooring
  • Forced Air
  • Other Heat Type
  • 3 Heat/AC Zones
  • Electric Fuel
  • Natural Gas Fuel
  • Natural Gas Avail
  • Wall/Window A/C
  • 3 Mini Split Zones
  • 200 Amps
Exterior Features
  • Masonry - Brick Construction
  • Brick Siding
  • Masonry Siding
  • Asphalt Shingles Roof
  • Tar Roof
  • Flat Roof
  • Municipal Water
  • Municipal Sewer
  • Corner
  • Generator
  • Near Bus
  • Near Train
Community Details
  • Triplex (Bldg. Style)
Commercial Info
  • Uses: C4-2
  • 8% Cap. Rate
Income/Expenses
  • Gross Income $127,800
  • Net Income $107,898
  • Operating Exp $19,902
  • Maintainence Exp $6,390
  • Insurance Exp $4,086
  • Electric Exp $1,848
  • Water Exp $1,440
  • Total Exp $19,902
  • Paid by Landlord: Electric, Water, Insurance, Ord. Maint., Struct. Maint.
Listed By
PROOF REO INC
Office: 917-751-6930
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