53 Victory BlvdStaten Island, NY 10301

For Sale
$1,600,000

Prime St. George location, high income potential.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity encompasses a 3-story, 3,144 sq ft mixed-use building at 53 Victory Blvd, Staten Island, NY 10301, featuring four units (two 3-bedroom apartments and two retail spaces) currently at 25% occupancy, and an adjacent vacant lot at 51 Victory Blvd. The building, constructed in 1900, sits on a 5,000 sq ft lot and boasts a pro-forma NOI of $202,491, representing an 8.3% capitalization rate. The asking price is $1,600,000 ($508.91/sq ft). The vacant lot, valued at $750,000 ($300/sq ft), has approved plans for a six-unit mixed-use building, leveraging the C4-2 zoning. The combined properties offer significant value-add potential through renovations and lease optimization. The building can be delivered vacant. An additional 5,356 sq ft of air rights are available. This opportunistic investment presents a chance to capitalize on St. George's growing real estate market and strong rental demand. The property is a turnkey solution with seller financing potentially available for the land portion. Offers on individual properties may be considered.

Highlights

  • $1,600,000 asking price for a mixed-use property in a prime St. George location.
  • 3,144 square feet, 4 units, with a 25% occupancy rate and a pro-forma NOI of $202,491.
  • Includes a 5,000 square foot lot with approved plans for additional development, plus 5,356 square feet of air rights.
  • C4-2 zoning allows for versatile commercial and residential uses.
  • The property offers a pro-forma 8.3% cap rate and a land value of $300/SF.
  • Seller financing may be available for the vacant lot portion.

Property Details for 53 Victory Blvd

Property type
Other mixed-use properties, Other land
Square Feet
3,144 SF
Year Built
1900
Buildings
1
Stories
3
Units
4

Location Insight

City
Staten Island
County
Richmond
State
New York
Latitude
40.637994319646
Longitude
-74.077662335342
53 Victory Blvd, Staten Island, New York

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53 Victory Blvd
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