Mixed-use investment package in Midland Beach—508 Midland Ave plus 857 & 859 Nugent Ave (BBL 3740-26)—offering 5 total units across 2 buildings on a 60×107 (6,420 SF) lot with an estimated ~4,000 SF of building area, individual gas and electric meters, gas/forced-air heat, and city sewer. The retail space fronts… Read More Midland Avenue, a primary thoroughfare connecting Hylan Blvd and Father Capodanno Blvd, providing strong drive-by visibility and consistent vehicular traffic ideal for neighborhood-serving uses. 2024 gross income is approximately 188,700 with operating expenses of approximately 37,689, resulting in an NOI of approximately 151,011. There is potential to optimize rents at renewal or turnover in accordance with applicable laws and lease terms. The 60×107 lot and site layout may also present paths for reconfiguration or additional units; prospective purchasers are encouraged to consult a licensed architect/expediter and the NYC Department of Buildings to evaluate feasibility for any expansion, alteration, or new construction. Showings by appointment only—please do not disturb occupants. Equal Housing Opportunity. Read Less
Courtesy of Re/Max Edge.
Listing Snapshot
Days Online
85
Last Updated
Property Type
Single Family
Square Ft.
4,000
Lot Size
0.15 Acres
Year Built
1931
MLS Number
2506111
30 Days Snapshot Of 10306
$766k
0%
(avg) sold price
32
+14%
homes sold
135
+4%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1931, Building area total: 4,000, Leasable area: 4000, 2 buildings, 2 total stories, Construction materials: "Other"
Heating
"Forced Air", "Natural Gas"
Lot
0.15 acres, 6,420 square feet, Area: 6,420
Property
Zoning: R-31
Sewer
"City"
Taxes
Tax annual amount: $23,115
Utilities
Electric: "220 Volts"
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