1903 Victory BlvdStaten Island, NY 10314

Property Details for 1903 Victory Blvd

Year built

1980

Lot size

0.05 AC

Property size (Sq ft)

900 SF

Zone code

R3-1

Property type

Retail space

APN

00378-0187

APU

3780187

Description

This exceptional investment opportunity encompasses two buildings situated on a 4,806 square foot lot at 1899-1903 Victory Boulevard, Staten Island, NY 10314. The property, built in 1931, offers a combined 4,500 square feet of retail space, currently operating at 100% occupancy under a gross lease. The two-story structures boast a multi-tenancy configuration, including separate storefronts on the ground floor and additional office space on the second floor. The asking price is $2,025,000, translating to $450 per square foot. The property is zoned R3-1 and C1-1, providing flexibility for various commercial uses. This prime location in Staten Island presents a compelling investment prospect, with the potential for strong rental income and future appreciation. The buildings are currently occupied, offering immediate cash flow. The sale includes both the real estate and the existing business, or the real estate can be purchased separately. This presents a unique opportunity to acquire a well-established commercial property in a desirable location. The property's history and current success make it an attractive investment for both seasoned investors and those seeking a stable, income-generating asset.

• CAP approach

  CAP return

  Valuation

  6%

  $218,731

  6.5%

  $201,906

  7%

  $187,484

• Comparable approach

  Method

  Valuation

  Relative Method

  $296,337

  Geo Method

  $296,337

• Alternative Use

  Use

  Valuation

  Residential

  $170,315

  Hospitality

  $156,008

  Educational

  $129,797

  Medical

  $134,261

  Retail

  $201,906

Location Insight

City

Staten Island

County

Richmond

State

New York

Latitude

40.613

Longitude

-74.1275

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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