155 Port Richmond AveStaten Island, NY 10302

Property Details for 155 Port Richmond Ave

Year built

1945

Property size (Sq ft)

4,000 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a rare chance to acquire a thriving wholesale bakery business and two prime commercial properties in Staten Island's Elm Park neighborhood. The package includes a 4,000 square foot, single-story building constructed in 1945, situated on a 4,002 square foot lot (37ft x 107ft). The property boasts a C4-2 zoning designation, offering flexibility for various commercial uses or potential residential redevelopment under R-6 zoning. The existing bakery, a community staple for 40 years, generates a Pro-Forma NOI of $780,000, representing a 39% Pro-Forma Cap Rate. The building is priced at $530 per square foot. Annual property taxes are $14,547. The location benefits from excellent transportation options, including the Staten Island Railway and numerous bus routes, providing easy access to the Goethals Bridge and New Jersey. This turnkey operation offers a unique blend of established business and significant real estate potential, making it an ideal investment for discerning buyers. The unused FAR is 9,605 square feet. This is a truly unique opportunity to acquire a well-established business and valuable real estate in a desirable location.

Location Insight

City

Staten Island

County

Richmond

State

New York

Latitude

40.6373

Longitude

-74.1337

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