$2,499,000
Staten Island, NY 10306
MLS# 2506111
4000 sqft
1 / 17
Property Description
Mixed-use investment package in Midland Beach—508 Midland Ave plus 857 & 859 Nugent Ave (BBL 3740-26)—offering 5 total units across 2 buildings on a 60×107 (6,420 SF) lot with an estimated ~4,000 SF of building area, 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 drive-by visibility and consistent vehicular traffic ideal for neighborhood-serving uses. 2024 gross income is approximately 188,700 with operating expenses of approximately 37,689, resulting in an NOI of approximately 151,011. There is potential to optimize rents at renewal or turnover in accordance with applicable laws and lease terms. The 60×107 lot and site layout may also present paths for reconfiguration or additional units; prospective purchasers are encouraged to consult a licensed architect/expediter and the NYC Department of Buildings to evaluate feasibility for any expansion, alteration, or new construction. Showings by appointment only—please do not disturb occupants. Equal Housing Opportunity.
Details
Maps
Address/Legal
Section: Mid-Island
Country: United States
Contract/Location Information
List Price/SqFt: 624.75
Sale/Lease: Sale
CofO: Yes
List Type: Exclusive Right to Sell
Owner Finance: No
General Property Info
# of Buildings: 2
Stories: 2
Taxes: 23115
Tax Abated: No
Lot Size SqFt: 6420
Year Built Info: Approx
Lot Dim: 60x107
Irregular: No
Air Conditioner: None
Condition: Excellent
# of Parking Spaces: 0
# of Residential Units: 4
# of Commercial Units: 1
# of Mfg Units: 0
# of Medical Units: 0
# of Non-Conform Units: 0
Public Remarks: Mixed-use investment package in Midland Beach—508 Midland Ave plus 857 & 859 Nugent Ave (BBL 3740-26)—offering 5 total units across 2 buildings on a 60×107 (6,420 SF) lot with an estimated ~4,000 SF of building area, 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 drive-by visibility and consistent vehicular traffic ideal for neighborhood-serving uses. 2024 gross income is approximately 188,700 with operating expenses of approximately 37,689, resulting in an NOI of approximately 151,011. There is potential to optimize rents at renewal or turnover in accordance with applicable laws and lease terms. The 60×107 lot and site layout may also present paths for reconfiguration or additional units; prospective purchasers are encouraged to consult a licensed architect/expediter and the NYC Department of Buildings to evaluate feasibility for any expansion, alteration, or new construction. Showings by appointment only—please do not disturb occupants. Equal Housing Opportunity.
Year Built: 1931
Building SqFt: 4000
Sewer
City: 1
Electric
220: 1
Showing Instructions
Call Office: 1
Heat Source
Gas: 1
Heat System
Forced Air: 1
Electric Meters
Individual: 1
Gas Meters
Individual: 1
Parking
On Street: 1
Income & Expense
Gross Income: 188700
Total Expense: 37689
Net Income: 151011
Features
Mixed Use: 1
Building Info
Building Available SqFt: 4000
Retail Available SqFt: 1500
Sprinklers: Yes
Construction
Other: 1
AddressLegal
Street No.: 508
Street Name: Midland
Street Suffix: Avenue
County: Richmond
State: NY
Zip Code: 10306
Area Name: Midland Beach
Parcel ID: 03740-0026
ContractLocation Information
Status: Active
Marketing/Listing Date: 2025-10-15
List Price: $2,499,000
Current Price: $2,499,000
Sub-Type: Commercial
Zoning: R-31
Block: 03740
Lot: 0026
Property Features
Electric Meters: Individual
Gas Meters: Individual
Heat Source: Gas
Heat System: Forced Air
Showing Instructions: Call Office
Electric: 220
Features: Mixed Use
Construction: Other
Parking: On Street
Listing Courtesy of Re/Max Edge
Listing data provided courtesy of Staten Island Multiple Listing Service. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.