Investment Opportunity
Take a look at this amazing investment opportunity located at 281-283 Broadway in West Brighton, Staten Island. Casandra Properties has signed on as the exclusive listing agent for the sale of 281-283 Broadway. Located in bustling West Brighton, this is a unique portfolio of properties, with opportunity for potential development. This is an immense opportunity for an investor looking for a mixed-use property that can generate a 7% cap rate. Additionally, the 7,500 sq. ft. parking lot is a separate tax lot zoned C1-2/R3-2 with development potential.
Located on the busy corner of Broadway and Castleton Ave in West Brighton, the intersection has high traffic counts, heavy foot traffic, and a corner bus stop.
Property Portfolio
The portfolio of properties comprises two mixed-use buildings and a vacant lot, which is currently being used as a parking lot.
2 Commercial Units:
- Superette – 1750 sq. ft. Occupied by long term tenant
- Restaurant – 1750 sq. ft. Formerly a pizzeria, now vacant.
3 Residential Units:
- 2 bedroom unit – Occupied
- 2 bedroom unit – Vacant
- 1 bedroom unit - Vacant
Owner Occupant Ideal
This multi-use property is also ideal for an owner occupant who wants to occupy the restaurant space that is currently vacant. With a little work, this portfolio of properties has potential to be a major money maker and provide a stream of steady income. In addition, the adjacent 7,500sf parking lot can also be developed into another mixed-use building, further enhancing your investment and money-making potential. Please check with your architect.
For more information please contact Anthony DeLeo or Angie Master at 718-816-7799. For more real estate information or home improvement tips check out some of our other blogs.
