491-497 JERSEY ST, STATEN ISLAND, NY 10301
$2,888,000
List Price
Off Market
Listing ID |
11080525 |
|
|
|
Property Type |
Commercial Building |
|
|
|
County |
Richmond |
|
|
|
Township |
Staten Island |
|
|
|
|
Neighborhood |
NORTH SHORE |
|
|
|
Total Tax |
$24,985 |
|
|
|
FEMA Flood Map |
fema.gov/portal |
|
|
|
Year Built |
2014 |
|
|
|
|
COMMERCIAL INVESTMENT OPPORTUNITY
Located in an Opportunity Zone, this property features 8 2 Bedroom Apartments / 4 store fronts with parking located on 4 tax lots. Situated minutes to the Staten Island Ferry, Bay Street, Shopping and multiple points of transportation, 491-497 Jersey Street is strategically located to insure high occupancy rates. Built in 2014, with block construction, 491-497 Jersey Street has been kept in incredible condition and presents a turn-key investment opportunity with upside. Each apartment is a large 2 bedroom unit with open floor plan and separate utilities. Currently, with a corporate tenant until July 2023 who handles the day to day maintenance, 491- 497 Jersey Street is low cost building to operate and create cash flow. If the lease expires, there is over $ 40,000 in gross rental increases available in units they occupy. With an effective gross income of $243,696.00 and a Net Operating Income of $202,243.80 and coming to market at $2,888,000 priced at a 7% cap rate, 491-497 is a compelling opportunity at an attractive valuation for the investor seeking cash flow without looking to tie up cash in capital improvements
|
- 8 Full Baths
- 4 Half Baths
- 11808 SF
- 9345 SF Lot
- Built in 2014
- 3 Stories
- Available 5/27/2022
- Slab Basement
- Renovation: NEW BUILD IN 2014
Unit #1 –
Bedrooms: 16, Full Baths: 8, Occupied
- Ceramic Tile Flooring
- Stone Flooring
- Alarm System
- Fire Sprinklers
- Forced Air
- Gas Fuel
- Natural Gas Avail
- Central A/C
- 100 Amps
- Masonry - Concrete Block Construction
- Masonry Siding
- Asphalt Shingles Roof
- Municipal Water
- Municipal Sewer
- Street View
- Near Bus
- Near Train
- 5 Parking Spaces
- 7% Cap. Rate
- Gross Income $243,696
- Net Income $202,044
- Paid by Landlord: Water, Struct. Maint., Ground Maint.
|
Francis Shearon
CORNERSTONE REALTY
|
Listing data is deemed reliable but is NOT guaranteed accurate.
|