Property Details

Overview

Calling All Investors, Developers & End-Users!!! 100% Occupied 13 Unit Mixed-Use Building In Flatbush For Sale!!! The Building Features Excellent Signage, Great Exposure, 3 Stores, 6 Parking Spaces, High 9’ Ceilings, Strong R6/C1-3 Zoning, Signalized Intersection, (10) 1 Br. Apts., Basement, LED Lighting, 200 Amp, Power, A/C, +++!!! The Property Is Located In The Heart Of Flatbush 2 Blocks Off Linden Blvd. & Only Minutes From Prospect Park, The Brooklyn Museum & Brooklyn Botanic Garden!!! Neighbors Include USPS, Target, T-Mobile, Walgreens, CubeSmart Self Storage, Dunkin’, Taco Bell, Subway, Duane Reade, Five Below, IHOP, +++!!! The Building Has 27+ Feet Of Frontage On Busy Church Ave.!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!! Income: Biali (Restaurant; 800 Sqft. + 800 Sqft. LL): $33, 600 Ann.; Lease Exp.: 8/1/28; 3% Ann. Inc.; Been Here 10+ Years. Royal Cloudz Convenience: (600 Sqft.; No LL): $36, 000 Ann.; Lease Exp.: 12/1/29; 5%Ann. Inc. Coco Glam Studio (Salon; 500 Sqft.; No LL): $21, 168 Ann.; Lease Exp.: 7/1/25; Additional 5 Year Option ; 3% Ann. Inc. Unit 1A (1 Br., 1 Bath): $9, 620.52 Ann. Unit 2A (1 Br., 1 Bath): $14, 319.60 Ann. Unit 3A (1 Br., 1 Bath): $13, 500.72 Ann. Unit 4A (1 Br., 1 Bath): $24, 000 Ann. Unit 2B (1 Br., 1 Bath): $12, 435.60 Ann. Unit 3B (1 Br., 1 Bath): $17, 191.20 Ann. Unit 4B (1 Br., 1 Bath): $16, 219.32 Ann. Unit 2C (1 Br., 1 Bath): $8, 528.40 Ann. Unit 3C (1 Br., 1 Bath): $16, 077.60 Ann. Unit 4C (1 Br., 1 Bath): $15, 044.76 Ann. Carport: $6, 000 Ann. (Available) 3 Stores Gross Rent: $90, 768 Ann. 10 Apartments Gross Rent: $146, 937.72 Ann. Total Gross Rent: $243, 705.72 Ann. Expenses: Gas: $9, 000 Ann. Electric: $4, 000 Ann. (Common Area Only) Maintenance & Repairs: $250 Ann. Insurance: $10, 000 Ann. Water & Sewer: $9, 000 Ann. Trash: $0 Ann. Snow & Landscape: $0 Ann. Taxes: $42, 340 Ann. Total Expenses: $75, 590 Ann. Gross Income: $243, 705.72 Ann. Net Operating Income (NOI): $168, 115.72 Ann. (7.82 Cap!!!) , or