Remarks

Property Description:

7305, 7307, & 7309 5th Avenue are three contiguous mixed-use buildings located on the east side of 5th Avenue between 73rd Street and 74th Street in Bay Ridge. The buildings consist of three retail units and six residential apartments, totaling approximately 12,200 gross sq. ft. The ground floor retail at 7305 & 7307 5th Avenue are combined and contain a local grocery store. The ground floor retail at 7309 5th Avenue is occupied by a local pharmacy. Each building contains two floor-through three-bedroom apartments which feature high ceilings, renovated kitchens, and hardwood floors. The portfolio generates approximately $337,000 in annual gross revenue and nets approximately $245,000 in annual income. Current ownership has continuously maintained the buildings as the mechanicals and roofs have all been recently updated, allowing new ownership to benefit from no deferred maintenance.

7305, 7307, 7309 5th Avenue is walking distance to the famous Bay Ridge 86th Street retail corridor which is home to national tenants such as Century 21, Banana Republic, TJ Max, Gap, Sephora, Pandora, Bath and Body Works, and Victoria’s Secret. The buildings are also adjacent to all other necessary retail, restaurants, and shopping along 5th Avenue. Additionally, the waterfront at Shore Road, Owls Head Park, and the Bay Ridge Pier at 69th Street are a short distance away.

Transportation:

The local R-train is located two blocks away on the corner of 75th Street and 4th Avenue. The B-63 bus stop is in front of the building on between 74th 5th Avenue.

Details

MLS#: 446463
Price: $4,995,000

Style: Mixed Use
Sq Ft: 12319
Year Built: 1915

County: Kings (Brooklyn)
Tax Fee: 42136.00