585 Bay Street

Stapleton

$1,350,555
Price
Beds
4,710 Sq. Ft.
$287 / Sq. Ft.
4,710
Sq. Ft.
$287
per Sq. Ft.

Description

Amazing Opportunity in Stapleton, Staten Island! Corner mixed-use Brick Building in a high traffic location. Great visibility, long term retail tenant, with development potential. The back extension part of the building was reconstructed 5 years ago with a new roof and parapet walls. The 2nd floor 2 bedroom apartment is newly renovated with high-end kitchen and appliances with beautiful hardwood floors and fashionable brick wall in bedroom. The apartment features high efficiency fujitsu split units...Amazing Opportunity in Stapleton, Staten Island! Corner mixed-use Brick Building in a high traffic location. Great visibility, long term retail tenant, with development potential. The back extension part of the building was reconstructed 5 years ago with a new roof and parapet walls. The 2nd floor 2 bedroom apartment is newly renovated with high-end kitchen and appliances with beautiful hardwood floors and fashionable brick wall in bedroom. The apartment features high efficiency fujitsu split units for heating and cooling and 2 in 1 washer/dryer. The 3rd floor is a 3 bedroom with 1 bath with a long term Section 8 tenant. Tenant pays small portion of rent. A real money maker as-is, but has a lot of additional potential. This property will benefit from the new zoning proposed in the "city of yes" initiative, expected to be passed in the coming months. The back of the store is currently vacant and has private access with a side entrance. The building is fitted with 2 Navien high-efficiency tankless water heaters and a Kohler 14 KW natural gas generator sits atop of the extension roof, and is scheduled to be connected to the new gas line in 30 days. At present the property operates at just under an 8% cap.
  1. Listed by Edward T. Romeo • Proof REO Inc.

Amenities

  • Hardwood Floors
  • Parking Included
  • Lowrise
LISTING UPDATED: 12/17/2024 04:13 PM

Property Details for 585 Bay Street

StatusContract Signed
MLS ID487336
Days on Market39
Taxes$6,138 / year
Maintenance-
Min. Down Pymt-
Total Rooms-
Compass TypeMixed Use
MLS TypeMixed Use
Year Built1910
Lot Size2,310 SF / 26' x 89'
CountyRichmond County

Building

585 Bay St

3 Units3 StoriesBuilt in 1910

Building Information for 585 Bay Street

Stories3Residences3Year Built1910Lot Size2,310 SF / 26' x 89'Building Age-Building Type-

Property Information for 585 Bay Street

Summary
Location and General Information
  • Block: 492
  • Number Of Stories: 2
  • Cross Street Name: Cross St/near Union Pl
  • Zoning: C4-2
  • Roof: Flat
Parking
  • Parking Attributes: None
  • Parking Feature Single: Street
Taxes and HOA Information
  • Financing: Bank Mortgage, Cash
  • Tax Amount: 6138.0
  • Gross Expense: 19902.0
  • Gross Income: $125,400.00
  • Miscellaneous Expense: 6390.0
  • Cap Rate: .08%
  • Inventory Expense: 0.0
Property
Lot Information
  • Sq Ft Total: 4710
  • Yard: None
  • Lot Number: 7
  • Lot Size Irregular YN: Yes
  • Lot Size Length: 89
  • Lot Size Width: 25
Property and Assessments
  • Commercial Condo YN: No
Utilities
  • Heat Delivery: Hot Water
  • Heating Fuel: Gas
  • Hot Water: Tankless
  • Utility Expense: 1848.0
  • Fuel Expense: 0.0
Interior and Exterior Features
Interior Features
  • Basement Amenities: Full, Unfinished
  • Commercial Features Interior: None
  • Foundation Details: Block
  • Flooring: Carpeting, Laminate, Tile, Other
  • Unit Count: 4
  • Lavatories: 1
  • Construction Materials: Brick
  • Electric: Circuit Breakers
Exterior Features
  • Exterior: Brick
  • Commercial Features Exterior: None
Multi Family
Multi-Family Information
  • Building Footprint Sq Ft: 2233.0
  • Building Length: 86.0
  • Building Type: Semi-Detached
  • Building Width: 25.96
Unit 1
  • Unit Category: Store
  • Unit Current Rent: 3000.0
  • Unit Floor: 1
  • Unit Status: Leased
  • Unit Unit Type: Retail
Unit 2
  • Unit Category: Store
  • Unit Floor: 1/back
  • Unit Projected Rent: 2000.0
  • Unit Status: Vacant
  • Unit Unit Type: Office
Unit 3
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 2800.0
  • Unit Floor: 2
  • Unit Rooms Total: true
  • Unit Status: Month-to-Month
  • Unit Unit Type: 2 Bedrooms
Unit 4
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 3
  • Unit Category: Apt
  • Unit Current Rent: 2650.0
  • Unit Floor: 3
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 3 Bedrooms
Agent
Agent Information
  • Net Operating Income: 105498.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 4086.0
  • Certificate Of Occupancy YN: No
  • Owner Occupied: No

Property History for 585 Bay Street

DateEvent & SourcePriceAppreciationLink
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 585 Bay Street

Taxable ValueLand$12,480Additions$38,100Total$50,580
Home Facts
Total Finished SqFt4,710 SqFtLot Size2,178 SqFtYear Built1910ZoningC4-2APN5004920007

Schools near 585 Bay Street

This home is within New York City Geographic District #31.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - PK to 5
Public - PK to 5
Public - 6 to 8
Rating
School
Distance
Fort Hill Collaborative Elementary
PublicPK to 5

P.S. 16 John J Driscoll
PublicPK to 5

P.S. 74 Future Leaders Elementary School
PublicPK to 5

Is 61 William A Morris
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Neighborhood Map and Transit

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Proof REO Inc.

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2025, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2025 The Real Estate Board of New York, Inc., All rights reserved.