5 Unit Retail Staten Island
Investment Highlights
Port Richmond Staten Island retail 4 units 2/4 occupied w/ another renovated/move in ready. value add through renewals and lease up. current income 7,200/month. proforma on full occupancy 11k/month. On a corner lot 5,345 SF, 50x106, zoned C4-2 (R6 equiv) allowing 11,759 BSF residential or 20,845 BSF w/QA FAR. $108k NOI proforma (7.2% cap). Room to add 2 more units or redevelop. Price reduced owner asking $1.5m negotiable ($128psf)/($72psf)
There are two options here: 1) purchase the corner & value add through lease ups and upgrades.
or 2) an assemblage of 159 - 167 Port Richmond Ave
Tenants:
Check Cashing pays 5000 including expenses. has 2 yrs lease
Hair Salon operating for 25yrs. have 1 year lease
One store is already built out ready to lease
another two need work
Seller lives in NJ wants to sell this and buy something closer to him
Location
📍 Staten Island
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Who finances deals like this
The lenders with the most recorded retail mortgages since 2021, from public ACRIS filings.
- Preferred Bank — 39 loans, typically $300K–$2M
- Symetra Life Insurance Company — 19 loans, typically $345K–$2.15M
- Commonwealth Business Bank — 10 loans, typically $1.17M–$2.24M
- New York Progressive Capital Local Development Cor — 5 loans, typically $1.19M–$2.28M
- G4 18297,LLC — 3 loans, typically $6.55M–$20.73M
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Underwrite this deal
Pro-forma, debt sizing against real recorded NYC leverage, cash flow, IRR and a sensitivity grid. Free account — no card.
