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622 Midland Ave 17,182 SF 60% Leased Retail Building Staten Island, NY 10306 $3,199,000 ($186.18/SF) 6.92% Cap Rate
INVESTMENT HIGHLIGHTS
- High visibility on corner location of Patterson/Midland Ave
EXECUTIVE SUMMARY
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$335,488
|
$19.53
|
| Other Income |
$5,598
|
$0.33
|
| Vacancy Loss |
$10,065
|
$0.59
|
| Effective Gross Income |
$331,021
|
$19.27
|
| Taxes |
$58,008
|
$3.38
|
| Operating Expenses |
$51,762
|
$3.01
|
| Total Expenses |
$109,770
|
$6.39
|
| Net Operating Income |
$221,251
|
$12.88
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $335,488 |
| Annual Per SF | $19.53 |
| Other Income | |
|---|---|
| Annual | $5,598 |
| Annual Per SF | $0.33 |
| Vacancy Loss | |
|---|---|
| Annual | $10,065 |
| Annual Per SF | $0.59 |
| Effective Gross Income | |
|---|---|
| Annual | $331,021 |
| Annual Per SF | $19.27 |
| Taxes | |
|---|---|
| Annual | $58,008 |
| Annual Per SF | $3.38 |
| Operating Expenses | |
|---|---|
| Annual | $51,762 |
| Annual Per SF | $3.01 |
| Total Expenses | |
|---|---|
| Annual | $109,770 |
| Annual Per SF | $6.39 |
| Net Operating Income | |
|---|---|
| Annual | $221,251 |
| Annual Per SF | $12.88 |
PROPERTY FACTS
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Does have a basement that can be used for storage purposes only and comes with 2 parking spaces.
Can be combined with 626 Midland Ave. Basement is available for storage only and additional rent per month.
Can be combined with 624 Midland Ave. Tenant has option to rent unfinished basement at an additional cost. To be used for storage purposes and nothing else.
| Space | Size | Space Use | Position | Available |
| 622 | 1,375 SF | Retail | - | Now |
| 624 | 1,375-2,750 SF | Retail | In-Line | Now |
| 626 | 1,375-2,750 SF | Retail | In-Line | Now |
622
| Size |
| 1,375 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
624
| Size |
| 1,375-2,750 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
626
| Size |
| 1,375-2,750 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
622
| Size | 1,375 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Does have a basement that can be used for storage purposes only and comes with 2 parking spaces.
624
| Size | 1,375-2,750 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Can be combined with 626 Midland Ave. Basement is available for storage only and additional rent per month.
626
| Size | 1,375-2,750 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Can be combined with 624 Midland Ave. Tenant has option to rent unfinished basement at an additional cost. To be used for storage purposes and nothing else.
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03816-0022 | Total Assessment | $175,050 (2025) |
| Land Assessment | $52,200 (2025) | Annual Taxes | $58,008 ($3.38/SF) |
| Improvements Assessment | $122,850 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Presented by
622 Midland Ave
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