580 Bay Street, Staten Island, NY 10304

About 580 Bay, Staten Island

Situated in the Prime Bay Street corridor of Staten Island's North Shore, this 4,158 SF semi-detached mixed-use brick building offers a compelling opportunity for both investors and owner-users. Set on a 25 x 73 lot with a building footprint of 22 x 63, the property includes two commercial units and two residential apartments, along with a owner-used basement with a private entrance. The central retail storefront, currently used as a neighborhood market and undergoing renovation, fronts Bay Street, while a separate ground-floor corner unit—occupied by a longstanding copy machine sales, leasing, and repair business—provides an additional stable income. The residential component features two spacious 2-bedroom, 1-bath apartments. The third-floor unit is newly renovated with a thoughtful layout, including a foyer, expansive living room, kitchen, primary bedroom, and a well-sized second bedroom. The second-floor unit offers a nearly identical floor plan. With an annual tax bill of only $4,426 and a current monthly rent roll totaling $8,900 ($3,000 for the retail unit, $1,600 for the office, $1,600 for the second-floor unit, and $2,700 for the third-floor apartment), the property delivers immediate income with notable upside potential through rental increases and available air rights—offering the possibility to expand vertically (consult your architect). Additional annual expenses are minimal, including $6,000 for insurance, $1,600 for DEP, and $40 per month for Con Edison PLP. Ideally positioned across from the Stapleton train station and just 1.11 miles from the St. George Ferry Terminal, this location offers an effortless commute to Manhattan. It is surrounded by new and upcoming developments, making it an ideal asset in a growing commercial and residential enclave. GROSS INCOME: 106,800 TOTAL EXPENSE: 12,506 NET INCOME: 94,234