Description

Prime Bay Ridge/Dyker Heights location on the bustling 86th Street retail corridor—two well-maintained, brick buildings (703 & 705 86th Street) totaling 8,637 sq. ft. are now for sale. The three-story buildings, renovated in 1989, feature an elevator, legal two-family residential units (approximately 1,019 sq. ft. each), and six commercial offices with a combined office space of roughly 6,600 sq. ft. Two offices were custom-built by the owner with top-of-the-line materials and hardware. Zoned C4-2A, the properties sit on a combined lot of 70.66 ft. x 89.33 ft., with building sizes of 54.38 ft. x 76 ft. (703) and 54.38 ft. x 89.33 ft. (705) and an unused FAR of 6,783 sq. ft. The buildings are leased to prime tenants, including Staten Island University Hospital/Northwell Health, and offer a projected 7% cap rate. With high visibility, excellent exposure, and proximity to the train, express buses to Staten Island, the BQE, and the Verrazzano Bridge, the property presents multiple upside opportunities, including conversion to condominium or full residential use. The motivated owner is ready for a sale.