Property
| Ownership: | For Sale |
|---|---|
| Type: | mixed-use |
| Bedrooms: | Studio |
Financials
Listing Courtesy of All Island Estates Realty Corp
Calling All Investors, Developers amp ; End Users !
View of property
Description
Calling All Investors, Developers & End-Users!!! 100% Occupied 7 Unit Mixed-Use Corner Building In Midwood For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 9’ Ceilings, R6/C2-2 Zoning, 3 Apartments, 4 Stores, Basement, All New LED Lighting, 200 Amp Power, CAC, +++!!! The Property Is Located In The Heart Of Midwood Just Blocks From Flatbush Avenue & Brooklyn College!!! Neighbors Include USPS, Honda, Bank Of America, Target, ShopRite, Staples, T.J. Maxx, Dunkin’, Dollar Tree, Pathmark, Aldi, +++!!! The Building Has 102’ Of Frontage On Nostrand Avenue + 22’ Of Frontage On Avenue J!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Chinese Restaurant (Corner Store + LL): $42,000 Ann.; M-M.
Shoe Repair Shop: $23,400 Ann.; M-M.
Coffee Shop: $24,000 Ann.; M-M.
Beauty Salon: $54,000 Ann.; M-M.
Apt 1A. (1 Br. Apt.): $23,400 Ann.; M-M.
Apt. 2A (Studio): $13,800 Ann.; M-M.
Apt. 3A (2 Br. Apt): $24,000 Ann.; M-M.
Gross Income: $204,600 Ann.
Expenses:
Gas: $6,477 Ann. (Whole Building)
Electric: $541 Ann. (Hallway & Basement Only)
Maintenance & Repairs: $3,500 Ann.
Insurance: $11,500 Ann.
Water & Sewer: $5,157 Ann.
Taxes: $20,243.32 Ann.
Total Expenses: $47,418.32 Ann.
Net Operating Income (NOI): $157,181.68 Ann.
Amenities
- Natural Gas Available
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
