772 Richmond TerStaten Island, NY 10301

For Sale
$1,500,000

Prime waterfront location, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use property at 772 Richmond Terrace, Staten Island, NY 10301, presents a compelling investment opportunity. The fee-simple ownership includes a three-story, 3,600 square foot building constructed in 1899 and renovated in 2000. Currently configured as a bar with two offices and two apartments, the property offers significant upside potential. The building sits on a 5,184 square foot lot and includes a newly decked yard and a two-car driveway on an adjacent lot. The current NOI is $56,600, yielding a 3.77% cap rate. However, a pro-forma NOI of $79,000 projects a 5.27% cap rate, reflecting the property's strong growth potential. The M-1 zoning permits a variety of uses. The property also boasts 74 square feet of air rights. This prime location offers stunning city views and is situated in a rapidly developing area of Staten Island, promising significant future appreciation. The property consists of five units in total and is currently occupied. The asking price is $1,500,000. APN: 5000690107. Occupancy date: September 15, 2022.

Highlights

  • Fee-simple ownership of a 3,600 sq ft, three-story mixed-use building on a 5,184 sq ft lot in Staten Island, NY.
  • Currently configured as a bar with two offices and two apartments, totaling five units, all currently occupied.
  • Features a newly decked yard and a two-car driveway on an adjacent lot.
  • Strong upside potential: Current NOI $56,600 (3.77% cap rate), pro-forma NOI $79,000 (5.27% cap rate).
  • M-1 zoning allows for diverse uses, plus 74 sq ft of air rights.
  • Asking price: $1,500,000. APN: 5000690107.

Property Details for 772 Richmond Ter

Property type
Other mixed-use properties, Mixed-use properties
Class
C
Year Built/Renovated
1899/2000
Buildings
1
Stories
3
Units
5

Location Insight

City
Staten Island
County
36085
State
New York
Latitude
40.6445099
Longitude
-74.0979482
772 Richmond Ter, Staten Island, New York

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772 Richmond Ter
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