2300000.00 Dollar US$ knickerbocker avenue brooklyn new york

 Mixed Use

THREE STORY MIXED USE BUILDING FOR SALE


 USER/INVESTMENT OPPORTUNITY


KNICKERBOCKER AVENUE


BROOKLYN, NEW YORK


Location: East side of Knickerbocker Ave between Jefferson and Troutman  Street


 Lot Size: 25’ x 100’


Building Size: Basement: 25’ x 60’ = 1,500 sq. ft.


Ground Floor: 25’ x 60’ = 1,500 sq. ft.


2nd Floor: 25’ x 60’ = 1,500 sq. ft.


3rd Floor: 25’ x 60’ = 1,500 sq. ft.


Stories: Three (3) Plus Basement


Gross Square Feet: 4,500 (Approximately) Above Grade


Zoning: (FAR)


Total Buildable Sq. Ft: Total Available Air Rights:


R6: (2.43) with a C1-3 Overlay (2.0) 6,075


1,575


Real Estate Taxes: $10,174.36


Description: A 25’ wide 4 unit three story mixed use building. The property has  two stores on the ground floor and four two-bedroom apartments


above. The units are two per floor and are railroad style, which gives


them great sunlight to the front and back of the apartments. The units


are individually metered for cooking gas and electric. All the meters


are in the basement.


The property is a prime investment opportunity because an


investor can charge the tenants more rent by renovating the


apartments when they become vacant and the common areas.


Renovated two bedroom apartments are renting for $2,500 and the


stores are worth $3,500 per month. The investor can also give each


unit their own boiler and water heater. The store also makes the


property a great user opportunity, a user can use the stores when the


lease expires and live in one of the apartments above.


Revenue:


Unit Description Unit Type Revenue LXP


Ground Floor:


Restaurant   Store


Commercial


Commercial


 


$2,500.00 $2,500 pro


12/22 Vacant


Second Floor: 1 2


2 Bedroom Apt 2 Bedroom Apt


Free Market Free Market


$1,200  $1,200


Mo-Mo Mo-Mo


Third Floor: 3 2 Bedroom Apt Free Market $1,200 Mo-Mo 4 2 Bedroom Apt Free Market $600 Mo-Mo Monthly Inc: $9,200.00 Annual Inc: $110,400


Expenses:


 


Real Estate Taxes: $10,174.36


Water & Sewer: $3,800.00


Insurance: $3,500.00


Heat (Gas): $2,750.00


Electric: (common areas) $1,200.00


Repairs & Maintenance: Total Annual Expenses


$1,800.00  $23,224.36


Net Operating Income: $87,175.64 CAP RATE: 3.8%


ASKING PRICE: $2,300,000


 


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  •  Published date: January 8, 2021
  •  Region: New York
  •  City: new york
  •  Address: Knickerbocker Avenue
  •  Phone number: Brooklyn
  •  Views: 25



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