Remarks

Calling All Investors, Developers & End-Users!!! 8.55 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!! The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10' Ceilings, Strong R6/C2-3 Zoning, Signalized Intersection, (4) 3 Br. Apts., (8) 2 Br. Apts., (8) 1 Br., Full Basement, All New LED Lighting, 200 Amp, Power, CAC, +++!!! The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!! Neighbors Include Starbucks, Peter Luger's Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin', Liberty Tax, Meineke Car Care Center, Trader Joe's, McDonald's, IHOP, +++!!! The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!! This Property Offers HUGE Upside Potential!!! This Could Make A Great Addition To Your Investment Portfolio Or Be The Next Home For Your Business!!! Income: Black Flamingo (Bar): $120,000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Diaz Food Center (Grocery Store): $40,200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill. El Gran Canario (Restaurant): $69,600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Juice Bar & Lounge: $39,000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Beauty Salon: $21,600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Unit 2A: $16,500 Ann.; Lease Exp.: 12/31/23. Unit 2B: $24,000 Ann.; Lease Exp.: 6/30/24. Unit 2C: $22,200 Ann.; Lease Exp.: 2/28/24. Unit 2D: $11,544 Ann.; Lease Exp.: 7/31/24. Unit 2E: $10,152 Ann.; Lease Exp.: 12/31/24. Unit 3A: $ 11,724 Ann.; Lease Exp.: 11/30/23. Unit 3B: $18,444 Ann.; Lease Exp.: 6/14/23. Unit 3C: $12,624 Ann.; Lease Exp.: 7/31/23. Unit 3D: $17,880 Ann.; Lease Exp.: 2/28/24. Unit 3E: $11,136 Ann.; Lease Exp: 7/31/24. Unit 4A: $9,240 Ann.; Lease Exp.: 12/31/24. Unit 4B: $10,920 Ann.; Lease Exp.: 3/14/24. Unit 4C: $18,444 Ann.; Lease Exp.: 11/30/23. Unit 4D: $18,792 Ann.; Lease Exp.: 3/31/25. Unit 4E: $9,816 Ann.; Lease Exp.: 3/31/24. Unit 5A: $8,364 Ann.; Lease Exp.: 1/31/25. Unit 5B: $21,000 Ann.; Lease Exp.: 6/30/24. Unit 5C: $8,016 Ann.; Lease Exp.: 12/31/23. Unit 5D: $15,240 Ann.; Lease Exp.: 10/14/23. Unit 5E: $9,204 Ann.; Lease Exp.: 10/14/24. Tax Rebate (Paid By The Stores): $40,636 Ann. Water Rebate (Paid By The Stores): $10,392 Ann. Expenses: Oil: $34,987 Ann. Electric: $3,142 Ann. (Common Area Only) Maintenance & Repairs: $5,000 Ann. Property Super: $5,000 Ann. Insurance: $17,680 Ann. Water: $31,442 Ann. Taxes: $123,140 Ann. Total Expenses: $220,391 Ann. Current Gross Income: $626,668 Ann. Net Operating Income (NOI): $406,277 Ann. (8.55 Cap!!!)

Details

MLS#: L3531320
Price: $4,750,000

Style: Mixed Use
Baths Half: 0
Sq Ft: 20700
Year Built: 1926

County: Kings (Brooklyn)
Lot Size: 113x73.08
Tax Fee: 123140