587-591 Bay

587-591 Bay Street, Staten Island, NY 10304

Mixed use building in excellent location. 587-591 Bay Street consists of a commercial store front with an additional commercial space in back that currently rents the vacant lot (591) and a 2nd floor residential space which features 3 bedrooms, 1 bath, EIK, living room, dining room combo. The building is approx. 2600 square ft, lot size is 26 x 82 (2129) and zoning is C4-2 (R6 equivalent). 591 Bay Street is a vacant lot (26x75) C4-2/ R6 equiv. First floor commercial lease #1 is Metro by T-Moble and paying 3,350 monthly and 2nd commercial tenant is paying 2,275 monthly. 3 bedroom, 1 bath second floor residential unit is currently vacant and can rent for 3400-3800 monthly. This property can be operating at a 7 cap rate with potential to build and expand. See attached survey and architectural proposals for new buildings.