2306 Coney Island Avenue.indd
2306 Coney Island Avenue Sheepshead Bay Brooklyn
Fully-Occupied, 2-Story Commercial Building FOR SALE PROPERTY INFORMATION Address:
2306 Coney Island Avenue, Brooklyn, NY 11223
Location:
West side of Coney Island Ave between Avenues T & S in Homecrest, Brooklyn
Block:
7091
Lot:
48
Lot Dimensions:
26.36’ x 80’
(approx.)
Lot Size:
2,109
sq. ft. (approx.)
BUILDING INFORMATION
F
Q
2306 Coney Island Avenue
R F
Q
Floors:
2
(Plus Basement)
Building Dimensions:
20’ x 62’
(approx.)
Commercial Units:
2
Gross Square Footage:
2,480
Zoning:
R5
FAR (Residential):
1.25
sq. ft. (approx.)
Total Buildable Sq. Ft.:
2,636
sq. ft. (approx.)
Minus Existing ZFA:
2,480
sq. ft. (approx.)
Available Air Rights:
156
sq. ft. (approx.)
Assessment (16/17):
$132,300
Taxes (16/17):
$13,989
R
Property Highlights
Q
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 2306 Coney Island Avenue, a 2-story commercial building located between Avenue T and Avenue S in Brooklyn, NY. The approx. 2,480 SF building is currently occupied by two tenants. The ground floor is leased to a convenience store until 2022 and the 2nd floor is leased to a law office until 2018.
R
CONEY ISL AND AVEN UE
7091
AVENUE T
HUTCHINSON CT
26.36’
48
80’
AVENUE S
F
The property is conveniently located in close proximity to the Q subway line at the Avenue U station and the B3 & B68 bus lines. 2306 Coney Island Avenue presents the opportunity to invest on a main retail corridor in one of Brooklyn’s most stable markets.
ASKING PRICE: $1,400,000
EAST 9 STREET
FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT: STEPHEN P. PALMESE
ALEX SVETLAKOU
MICHAEL MAZZARA
THOMAS FREELAND
(718) 307 6552
(718) 606 7062
(718) 606 7052
(718) 606 7021
[email protected]
[email protected]
[email protected]
[email protected]
Vice Chairman
Senior Director
Director
Associate Director
Cushman & Wakefield 1 Pierrepont Plaza, Fl. 9, STE. 2 Brooklyn, New York 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
2306 Coney Island Avenue Sheepshead Bay Brooklyn
Fully-Occupied, 2-Story Commercial Building FOR SALE COMMERCIAL REVENUE:
ACTUAL: [1]
P.P.S.F.
MONTHLY RENT
ANNUAL RENT
UNIT
TENANT
LEASE EXP
SQ. FT.
Ground Floor
Grocery Store
2022
1,207
$33.80
$3,400
$40,800
2nd Floor
Law Office
Vacating 2018
1,207
$19.88
$2,000
$24,000
2,414
$26.84
$5,400
$64,800
TOTAL: [1]
Estimated Based on 15% Loss Factor.
EXPENSES & INVESTMENT VALUE: REVENUE Commercial Potential Gross Income:
$64,800
Vacancy & Credit Loss:
5.0%
$(3,240)
Effective Gross Income:
$61,560
EXPENSES (PROJECTED) Real Estate Taxes (16/17)
Full Taxes
$13,989
Insurance
$1.00 / GSF
$2,840
Water/Sewer
Tenants Pay
Pass Through
Fuel
Tenants Pay
Pass Through
Electric (Common Areas)
Tenants Pay
Pass Through
Repairs & Maintenance
$0.50 / GSF
$1,420
Management
4% / EGI
$2,462
Total:
$20,712
Gross Annual Income:
$61,560
Less Expenses:
$(20,712)
Net Operating Income:
$40,848
Expense Ratio:
33.64%
FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT: STEPHEN P. PALMESE
ALEX SVETLAKOU
MICHAEL MAZZARA
THOMAS FREELAND
(718) 307 6552
(718) 606 7062
(718) 606 7052
(718) 606 7021
[email protected]
[email protected]
[email protected]
[email protected]
Vice Chairman
Senior Director
Director
Associate Director
Cushman & Wakefield 1 Pierrepont Plaza, Fl. 9, STE. 2 Brooklyn, New York 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
Fully-Occupied, 2-Story Commercial Building FOR SALE PROPERTY INFORMATION Address:
2306 Coney Island Avenue, Brooklyn, NY 11223
Location:
West side of Coney Island Ave between Avenues T & S in Homecrest, Brooklyn
Block:
7091
Lot:
48
Lot Dimensions:
26.36’ x 80’
(approx.)
Lot Size:
2,109
sq. ft. (approx.)
BUILDING INFORMATION
F
Q
2306 Coney Island Avenue
R F
Q
Floors:
2
(Plus Basement)
Building Dimensions:
20’ x 62’
(approx.)
Commercial Units:
2
Gross Square Footage:
2,480
Zoning:
R5
FAR (Residential):
1.25
sq. ft. (approx.)
Total Buildable Sq. Ft.:
2,636
sq. ft. (approx.)
Minus Existing ZFA:
2,480
sq. ft. (approx.)
Available Air Rights:
156
sq. ft. (approx.)
Assessment (16/17):
$132,300
Taxes (16/17):
$13,989
R
Property Highlights
Q
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 2306 Coney Island Avenue, a 2-story commercial building located between Avenue T and Avenue S in Brooklyn, NY. The approx. 2,480 SF building is currently occupied by two tenants. The ground floor is leased to a convenience store until 2022 and the 2nd floor is leased to a law office until 2018.
R
CONEY ISL AND AVEN UE
7091
AVENUE T
HUTCHINSON CT
26.36’
48
80’
AVENUE S
F
The property is conveniently located in close proximity to the Q subway line at the Avenue U station and the B3 & B68 bus lines. 2306 Coney Island Avenue presents the opportunity to invest on a main retail corridor in one of Brooklyn’s most stable markets.
ASKING PRICE: $1,400,000
EAST 9 STREET
FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT: STEPHEN P. PALMESE
ALEX SVETLAKOU
MICHAEL MAZZARA
THOMAS FREELAND
(718) 307 6552
(718) 606 7062
(718) 606 7052
(718) 606 7021
[email protected]
[email protected]
[email protected]
[email protected]
Vice Chairman
Senior Director
Director
Associate Director
Cushman & Wakefield 1 Pierrepont Plaza, Fl. 9, STE. 2 Brooklyn, New York 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
2306 Coney Island Avenue Sheepshead Bay Brooklyn
Fully-Occupied, 2-Story Commercial Building FOR SALE COMMERCIAL REVENUE:
ACTUAL: [1]
P.P.S.F.
MONTHLY RENT
ANNUAL RENT
UNIT
TENANT
LEASE EXP
SQ. FT.
Ground Floor
Grocery Store
2022
1,207
$33.80
$3,400
$40,800
2nd Floor
Law Office
Vacating 2018
1,207
$19.88
$2,000
$24,000
2,414
$26.84
$5,400
$64,800
TOTAL: [1]
Estimated Based on 15% Loss Factor.
EXPENSES & INVESTMENT VALUE: REVENUE Commercial Potential Gross Income:
$64,800
Vacancy & Credit Loss:
5.0%
$(3,240)
Effective Gross Income:
$61,560
EXPENSES (PROJECTED) Real Estate Taxes (16/17)
Full Taxes
$13,989
Insurance
$1.00 / GSF
$2,840
Water/Sewer
Tenants Pay
Pass Through
Fuel
Tenants Pay
Pass Through
Electric (Common Areas)
Tenants Pay
Pass Through
Repairs & Maintenance
$0.50 / GSF
$1,420
Management
4% / EGI
$2,462
Total:
$20,712
Gross Annual Income:
$61,560
Less Expenses:
$(20,712)
Net Operating Income:
$40,848
Expense Ratio:
33.64%
FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT: STEPHEN P. PALMESE
ALEX SVETLAKOU
MICHAEL MAZZARA
THOMAS FREELAND
(718) 307 6552
(718) 606 7062
(718) 606 7052
(718) 606 7021
[email protected]
[email protected]
[email protected]
[email protected]
Vice Chairman
Senior Director
Director
Associate Director
Cushman & Wakefield 1 Pierrepont Plaza, Fl. 9, STE. 2 Brooklyn, New York 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
