Mixed-Use Medical Building
FOR SALE
1644 East 14th Street Revenue Lease Lease Monthly Annual Rent Expiration Escalation Rent Dental Practice 1,214 12/31/2019 $2,122 $25,461.60 4% Annual 1,384 2/1/2024 $5,320 $63,840.00 Dr. Azar Increase $50 Annual 500 10/31/2015 $650 $7,800.00 Oxana Yakovleva Increase 3% Annual 500 12/31/2016 $700 $8,400.00 Alternate Choice Health Care Increase Bellissimo European Skin Care Inc. 1,064 11/30/2019 $1,450 $17,400.00 Angela Gomez 1,184 12/31/2016 $600 $7,200.00 5,846 $10,842 $130,102 Tenant
SF
Revenue Potential Gross Income Vacancy Effective Gross Income
Block/Lot:
6776 /24
Zoning:
R5B
FAR:
1.35
Lot Dims:
40’ X 100’ (Approx.)
Lot Size:
4,000 SF
(Approx.)
Building Size:
4,125 SF
(Approx.)
Estimated Expenses Real Estate Taxes (14/15) Water/Sewer Insurance Fuel Management & Reserve Total Effective Gross Income Less Expenses Net Operating Income
$/SF $21 $46 $16 $17 $16 $6 $22
$130,102 ($6,505) $123,597
5.00%
Per Dept. of Finance Estimated @ $.35/SF: Per Owner Estimated @ $1.6/SF: 5%
($3,231) ($1,444) ($8,552) ($6,600) ($6,505) ($26,331) $123,597 ($26,331) $97,265
Description:
We are proud to present this opportunity to purchase a 3 story mixed-use building. The subject property contains 4 doctor’s offices, 2 residential units, and a revenue producing finished basement. Two units offer potential rent increases once their leases expire. The subject property is conveniently located half a block away from Kings Highway and close by Coney Island Avenue. Additionally, the property has 40 feet of frontage on East 14th Street, which is a premier medical corridor. Transportation includes the B and Q trains one block away as well as B2, B7, B31, B68, B82, and B100 bus lines.
For further information or inspection, please contact Exclusive Agent:
ASKING PRICE: $1,900,000
Alex Svetlakov Director of Sales
[email protected] 718-606-7062 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
205 Montague Street • Third Floor • Brooklyn, NY 11201 • 718.238.8999 • Fax 718.238.6091 www.masseyknakal.com THE BRONX
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MANHATTAN
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STATEN ISLAND
WESTCHESTER