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
k val d 1
- Published date: January 8, 2021
- Region: New York
- City: new york
- Address: Knickerbocker Avenue
- Phone number: Brooklyn
- Views: 3
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