FOR SALE
RELIABLE REAL ESTATE
482,484,486,488 JERSEY STREET & 7-9 STANLEY AVENUE Staten Island, NY 10301 AVAILABLE SPACE 10,739 SF
ASKING PRICE $2,599,000
AREA CBCWORLDWIDE.COM
Tompkinsville is the neighborhood sits on the island's eastern shore, along the waterfront facing Upper New York Bay — between St. George on the north and Stapleton on the south — it is reckoned as being part of the North Shore by the island's residents
OFFICE Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Reliable Real Estate. All rights reserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. The information provided is deemed reliable, but it is not guaranteed to be accurate or complete, and it should not be relied upon as such. This information should be independently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIAL RELIABLE REAL ESTATE 7428 5th Avenue, Brooklyn, New York 11209 718.921.3100
Staten Island, NY 10301
OFFERING SUMMARY Sale Price:
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
PROPERTY OVERVIEW $2,599,000
Number Of Units:
Cap Rate:
NOI:
Building Size:
9
3.21%
$83,400
10,739 SF
Zoning:
C2-2/R5
Price / SF:
$242.02
Coldwell Banker Reliable Real Estate Commercial Division is pleased to offer for sale 482, 484, 486, 488 Jersey Street & 7-9 Stanley Avenue, Staten Island, NY 10301. This mixed-use offering includes 5 properties, totaling 10,000 sq. ft. Located in Tompkinsville, and close to major roads, public transportation, and the Staten Island ferry, it is an excellent investment or owner-operator opportunity, with huge upside potential (e.g., the property is perfect for end-user buyers and warehouse businesses interested in building an L-shaped commercial warehouse, 3,988 sq. ft.). The package features a 100 x 100 lot with three ground floor retail units, as well as 6 apartments and a commercial garage - all spaces are in good condition, with separate heating and water boilers. The property is zoned C2-2/ R5. Currently, there are no leases on any of the units and the property can be delivered vacant. Seller is willing to finance the transaction.
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
PROPERTY DESCRIPTION Coldwell Banker Reliable Real Estate Commercial Division is pleased to offer for sale 482, 484, 486, 488 Jersey Street & 7-9 Stanley Avenue, Staten Island, NY 10301. This mixed-use offering includes 5 properties, totaling 10,000 sq. ft. Located in Tompkinsville, and close to major roads, public transportation, and the Staten Island ferry, it is an excellent investment or owner-operator opportunity, with huge upside potential (e.g., the property is perfect for end-user buyers and warehouse businesses interested in building an L-shaped commercial warehouse, 3,988 sq. ft.). The package features a 100 x 100 lot with three ground floor retail units, as well as 6 apartments and a commercial garage - all spaces are in good condition, with separate heating and water boilers. The property is zoned C2-2/R5. Currently, there are no leases on any of the units and the property can be delivered vacant. Seller is willing to finance the transaction.
LOCATION DESCRIPTION Tompkinsville is the neighborhood sits on the island's eastern shore, along the waterfront facing Upper New York Bay — between St. George on the north and Stapleton on the south — it is reckoned as being part of the North Shore by the island's residents
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
INVESTMENT OVERVIEW Price Price per Unit
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
COMMERCIAL PROPERTY PACKAGE - FOR SALE STATEN ISLAND $2,599,000 $288,777
GRM
23.5
CAP Rate
3.2%
Price PSF
$242.02
Total Return (yr 1)
$83,400 -
OPERATING DATA Gross Scheduled Income
COMMERCIAL PROPERTY PACKAGE - FOR SALE STATEN ISLAND $110,400
Other Income Total Scheduled Income
$110,400
Vacancy Cost
$0
Gross Income
$110,400
Operating Expenses
$27,000
Net Operating Income
$83,400
Pre-Tax Cash Flow
$83,400
PROJECTED INCOME OVERVIEW Price Price Per Unit GRM Cap Rate Price PSF Gross Income Operating Expenses Net Operating Income Pre-Tax Cash Flow
COMMERCIAL PROPERTY PACKAGE - FOR SALE STATEN ISLAND $2,599,000 $288,777 12.45 6.99% $242.02 $208,800 $27,000 $181,800 $181,800
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
INCOME SUMMARY
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
COMMERCIAL PROPERTY PACKAGE - FOR SALE STATEN ISLAND
Rental Income
$110,400
Gross Income
$110,400
EXPENSE SUMMARY
COMMERCIAL PROPERTY PACKAGE - FOR SALE STATEN ISLAND
Property Tax Water Property Insurance
$11,000 $6,000 $10,000
Gross Expenses
$27,000
Net Operating Income
$83,400
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E Staten Island, NY 10301
UNIT
UNIT
CURRENT
MARKET
MARKET
NUMBER
BED
RENT
RENT
RENT/SF
Store 1
$1,300
$2,500
Store 2
$500
$1,500
Store 3
$0
$1,500
Apartment 1
3
$1,300
$1,900
Apartment 2
3
$1,300
$1,900
Apartment 3
2
$1,350
$1,650
Apartment 4
2
$900
$1,650
Apartment 5
2
$800
$1,650
Apartment 6
2
$1,000
$1,650
$750
$1,500
$9,200
$17,400
Garage Totals/Averages
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
Staten Island, NY
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
POPULATION
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
0.5 MILES
1 MILE
1.5 MILES
14,109
32,470
56,674
Median age
32.7
35.5
34.3
Median age (Male)
32.1
34.4
32.8
Median age (Female)
32.8
36.0
35.3
0.5 MILES
1 MILE
1.5 MILES
4,854
12,030
20,614
# of persons per HH
2.9
2.7
2.7
Average HH income
$64,632
$69,118
$70,453
Average house value
$438,240
$477,305
$463,865
Total population
HOUSEHOLDS & INCOME Total households
* Demographic data derived from 2010 US Census
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
JOSEPH GIORDANO Vice President joseph.giordano@coldwellbanker.com Direct: 718.921.3100 | Cell: 917.650.2647
PROFESSIONAL BACKGROUND Joseph Giordano began his highly-successful real estate career in 1986 and joined Coldwell Banker Reliable Residential & Commercial in 2012. Thereafter, in five short years, Joseph managed to become one of the top agents at his firm. With more than three decades of experience as a professional in the real estate industry, Joseph offers his clients a wealth of unparalleled knowledge and strategies to successfully execute a broad range of residential, investment and commercial real estate sales. Joseph specializes in residential & commercial real estate deals including the sale and lease of multi-family properties, vacant land, development sites, investment properties, luxury properties, single family, and condos. He has repeatedly raised the bar in providing exemplary customer service to his clients by making himself readily available at all times to resolve any and all of his client needs related to the real estate process. As a confident entrepreneur and businessman for more than 30 years, Joseph Giordano has acquired the necessary skills to negotiate and close the most complex and difficult deals. Understanding the importance of showcasing properties, Joseph offers his clients the full advantage of benefits and resources Coldwell Banker Reliable has to offer. In particular, he uses Coldwell Banker's huge national network and advanced marketing strategies and tools to further the interests of his clients by exposing his clients' properties to a wide range of potential buyers that the property would not otherwise be exposed to. Ultimately, Joseph knows how to get things done. He represents his clients with honesty, integrity and with the utmost diligence. Buying and selling your property is a complex process. Meet with Joseph today to learn more on how to professionally market your property to get the best deal possible. Joseph will readily organize a team of professionals that will get you to the closing table immediately. In the meantime, Joseph's services will include detailed progress reports on the status of the sale of your property. He is motivated in gaining a friend with every real estate transaction and be your personal agent for life! Give him a call to get a proper evaluation of your property. Top Producer 2016 - 2019 International President's Elite. RELIABLE REAL ESTATE 7428 5th Avenue Brooklyn, New York 11209 718.921.3100
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE
Staten Island, NY 10301
SALE
4 8 2 , 4 8 4 , 4 8 6 , 4 8 8 J E R S E Y S T R E E T & 7 - 9 S TA N L E Y AV E N U E
CONFIDENTIALITY AGREEMENT This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
CBCWORLDWIDE.COM
Joseph Giordano 718.921.3100 joseph.giordano@coldwellbanker.com
RELIABLE REAL ESTATE