Remarks

Calling All Investors, Developers & End-Users!!! SHOVEL READY Development Site For A 22 Unit 19,100+ Sqft Building In Brooklyn For Sale!!! The Property Has Plans In Place For A Brand New Building!!! The Building Will Feature Great Exposure, Excellent Signage, 5 (2 Br.) Apartments, 1 Br. Apartment, 7 Parking Spaces, High 9’ Ceilings, 7 Stories, Sprinklers, Elevator, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Property Is Located In The Heart Of Brooklyn Near Barclays Center, Brooklyn Museum, Kings Theatre & Brooklyn Children’s Museum!!! Neighbors Include Starbucks, UPS, The Home Depot, Public Storage, CubeSmart Self Storage, Safeguard Storage, Target, Staples, Planet Fitness, PetSmart, Shake Shack, Mavis Discount Tire, Auntie Anne’s, Wendy’s, Checkers, White Castle, KFC, +++!!! This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site!!!



Income:



(5) 2 Br. Apts.: $252,000 Ann.



(10) 1 Br. Apts.: $384,000 Ann.



(5) Studio Apts: $138,000 Ann.



2 Br. Penthouse: $62,000 Ann.



1 Br. Penthouse: $51,600 Ann.



7 Parking Spaces: $21,000 Ann.



Pro Forma Gross Income: $908,600 Ann.



Expenses:



Gas: $0



Electric: $0



Water & Sewer: $3,257 Ann.



Insurance: $5,217 Ann.



Taxes: $8,254.96 Ann.



Total Expenses: $16,728.96 Ann.



Pro Forma Net Operating Income (NOI): $ 891,871.04 Ann.

Details

MLS#: 815482
Price: $3,950,000

Style: Multi Family
Sq Ft: 19168
Year Built: 1940

County: Kings (Brooklyn)
Tax Fee: 8255

School District: Brooklyn