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97 Victory Blvd 4 Unit Apartment Building $1,500,000 ($375,000/Unit) 7.38% Cap Rate Staten Island, NY 10301
INVESTMENT HIGHLIGHTS
- High Traffic Area
- 421-A Expires in 11 years
- Incredibly well Maintained
- Built 2009
- Fully occupied
EXECUTIVE SUMMARY
97 Victory Blvd, built in 2009, is a below-replacement-cost, clean as-is mixed-use in the heart of St. George: 1 ground-floor retail storefront (restaurant tenant, ~7 years left with increases) + 4 apartments upstairs + a community-facility lower level used by the restaurant for storage. The building is well-maintained with no deferred maintenance and benefits from a remaining 421-a tax abatement(expiring in 2036) that lowers operating expenses and gives a clear forecast for future expenses. High-visibility Victory Blvd frontage, steady commuter/neighbor foot traffic, and walk-to-Ferry/courts location support durable cash flow. Upside is straightforward: preserve the stable restaurant income, mark apartments to market through light refreshes, and let the tax benefit enhance yield.
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FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$154,608
|
$39.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,322
|
$2.62
|
| Effective Gross Income |
$144,286
|
$36.65
|
| Taxes |
$7,941
|
$2.02
|
| Operating Expenses |
$25,637
|
$6.51
|
| Total Expenses |
$33,578
|
$8.53
|
| Net Operating Income |
$110,708
|
$28.12
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $154,608 |
| Annual Per SF | $39.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,322 |
| Annual Per SF | $2.62 |
| Effective Gross Income | |
|---|---|
| Annual | $144,286 |
| Annual Per SF | $36.65 |
| Taxes | |
|---|---|
| Annual | $7,941 |
| Annual Per SF | $2.02 |
| Operating Expenses | |
|---|---|
| Annual | $25,637 |
| Annual Per SF | $6.51 |
| Total Expenses | |
|---|---|
| Annual | $33,578 |
| Annual Per SF | $8.53 |
| Net Operating Income | |
|---|---|
| Annual | $110,708 |
| Annual Per SF | $28.12 |
PROPERTY FACTS
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (80)
PROPERTY TAXES
| Parcel Number | 00023-0055 | Total Assessment | $281,700 |
| Land Assessment | $31,339 | Annual Taxes | $7,941 ($2.02/SF) |
| Improvements Assessment | $250,361 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
00023-0055
Land Assessment
$31,339
Improvements Assessment
$250,361
Total Assessment
$281,700
Annual Taxes
$7,941 ($2.02/SF)
Tax Year
2025
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97 Victory Blvd
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