1581 pitkin avenue brooklyn, ny 11212
1581 PITKIN AVENUE BROOKLYN, NY 11212 Mixed-Use Building For Sale
FOR SALE
3,140 SF (approx.)
Revenue Unit Toy Jump Inc. Apartment 1 Apartment 2 Total
Lease Expiration
SF
11/19/2024 Vacant Vacant
Monthly Rent $ 4,000 $ 1,500 $ 1,500 $ 7,000
$PSF
1,200 970 970 3,140
$ $ $
40 19 19
Annual Rent $ $ $ $
48,000 18,000 18,000 84,000
$ $ $ $ $ $ $ $
8,733 2,355 686 2,355 628 1,200 15,957 68,043
*P.P.S.F. b ased on ground floor retail space *Projected Rent
Projected Expenses Description Base Real Estate Taxes ('15/'16): Water/Sewer: (NYC) Insurance: Fuel: Electric: Maintenance: Total: Net Operating Income:
Owner Pays Projected @ $0.75 Per SF Owner Pays Projected @ $0.75 Per SF Projected @ $0.35 Per SF $100 Per Month
PROPERTY FEATURES
North side of Pitkin Avenue between Herzl Street and Amboy Street One retail store & two apartments Retail lease increases 3% per annum ending in 2024 Retail tenant responsible for increases of property taxes Located closely to the (3) subway line at Rockaway Avenue Station, and the (L) subway line at Sutter Avenue Station B14 bus route along Pitkin Avenue and the B7 and B12 bus route along East New York Avenue ASKING PRICE
CAP RATE:
$850,000
8.01% (Projected)
BUILDING FEATURES BLOCK / LOT
3495 / 38
LOT DIMENSIONS
20' x 70’ (Approx.)
BUILDING SIZE
20’ x 60’ (Approx.)
GROSS SF
3,140 (Approx.)
UNITS
3
STORIES
3
ZONING
C4-3
ASSESMENT (‘15/’16)
$68,526
TAXES (‘15/’16)
$8,809
GROSS ANNUAL INCOME
$84,000 (Projected.)
EXPENSES
$15,957 (Projected.)
NET INCOME:
$68,043 (Projected.)
FOR MORE INFORMATION, PLEASE CONTACT: Edward Gevinski Jr.Jr. Aaron Warkov Brian Streilein Edward Gevinski Jeffrey A. Shalom Brian Streilein Director Associate Director Director Executive DirectorSenior Associate Senior Associate (718) 307 6502 (718) 307 6551 (718) 307 6505 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Tel: (718) 307-6558 om (718) 307-6505 om (718) 307-6502 m
CUSHMAN & WAKEFIELD, INC. Cushman & Street, Wakefield, 205 Montague 3rd FloorInc. 205 Montague Street, 3rd Floor Brooklyn, NY 11201 www.nyinvestmentsales.com Brooklyn, NY 11201
nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
FOR SALE
3,140 SF (approx.)
Revenue Unit Toy Jump Inc. Apartment 1 Apartment 2 Total
Lease Expiration
SF
11/19/2024 Vacant Vacant
Monthly Rent $ 4,000 $ 1,500 $ 1,500 $ 7,000
$PSF
1,200 970 970 3,140
$ $ $
40 19 19
Annual Rent $ $ $ $
48,000 18,000 18,000 84,000
$ $ $ $ $ $ $ $
8,733 2,355 686 2,355 628 1,200 15,957 68,043
*P.P.S.F. b ased on ground floor retail space *Projected Rent
Projected Expenses Description Base Real Estate Taxes ('15/'16): Water/Sewer: (NYC) Insurance: Fuel: Electric: Maintenance: Total: Net Operating Income:
Owner Pays Projected @ $0.75 Per SF Owner Pays Projected @ $0.75 Per SF Projected @ $0.35 Per SF $100 Per Month
PROPERTY FEATURES
North side of Pitkin Avenue between Herzl Street and Amboy Street One retail store & two apartments Retail lease increases 3% per annum ending in 2024 Retail tenant responsible for increases of property taxes Located closely to the (3) subway line at Rockaway Avenue Station, and the (L) subway line at Sutter Avenue Station B14 bus route along Pitkin Avenue and the B7 and B12 bus route along East New York Avenue ASKING PRICE
CAP RATE:
$850,000
8.01% (Projected)
BUILDING FEATURES BLOCK / LOT
3495 / 38
LOT DIMENSIONS
20' x 70’ (Approx.)
BUILDING SIZE
20’ x 60’ (Approx.)
GROSS SF
3,140 (Approx.)
UNITS
3
STORIES
3
ZONING
C4-3
ASSESMENT (‘15/’16)
$68,526
TAXES (‘15/’16)
$8,809
GROSS ANNUAL INCOME
$84,000 (Projected.)
EXPENSES
$15,957 (Projected.)
NET INCOME:
$68,043 (Projected.)
FOR MORE INFORMATION, PLEASE CONTACT: Edward Gevinski Jr.Jr. Aaron Warkov Brian Streilein Edward Gevinski Jeffrey A. Shalom Brian Streilein Director Associate Director Director Executive DirectorSenior Associate Senior Associate (718) 307 6502 (718) 307 6551 (718) 307 6505 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Tel: (718) 307-6558 om (718) 307-6505 om (718) 307-6502 m
CUSHMAN & WAKEFIELD, INC. Cushman & Street, Wakefield, 205 Montague 3rd FloorInc. 205 Montague Street, 3rd Floor Brooklyn, NY 11201 www.nyinvestmentsales.com Brooklyn, NY 11201
nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
