508 Midland Avenue, New York, NY, 10306
$2,399,000
activeLot Size
6,420 sqft
Year Built
1931
Type
Commercial
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
Mixed-use investment package in Midland Beach—508 Midland Ave plus 857 & 859 Nugent Ave (BBL 3740-26)—offering five (5) total units across two (2) buildings on a 60×107 (6,420 SF) lot with approximately 4,000 SF of building area. The property features individual gas and electric meters, gas/forced-air heat, and city sewer. The retail space fronts Midland Avenue, a primary thoroughfare connecting Hylan Blvd and Father Capodanno Blvd, providing strong visibility and consistent vehicular traffic suitable for a variety of permitted commercial uses. The 2024 gross income is approximately $188,700, with operating expenses of approximately $37,689, resulting in a net operating income (NOI) of approximately $151,011. There may be opportunities to adjust rents over time in accordance with applicable laws, regulations, and existing lease terms. The 60×107 lot and current layout may present potential for reconfiguration or additional units. Prospective purchasers are encouraged to perform their own due diligence and consult with a licensed architect, expediter, and the NYC Department of Buildings regarding any potential expansion, alteration, or development. Showings are by appointment only—please do not disturb occupants. Equal Housing Opportunity.
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Listed by Thomas Smith, RE/MAX Edge
Listings courtesy of OneKey® MLS as distributed by MLS GRIDBased on information submitted to the MLS GRID as of Apr 1, 2026, 7:16 AM UTC (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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