654-656 Nostrand Avenue - For Sale - Agorafy
654-656 Nostrand Avenue - For Sale Crown Heights, Brooklyn, NY 11216 Mixed-Use/Retail Building - Exclusive Listing All information contained herein
Investment Sales Investment Opportunity: 654-656 Nostrand Avenue is a 3 story mixeduse/retail building with 3 residential units and 3 commercial units occupied by , NAS Deli & Tobacco, and 99¢ Plus. The building has a new sprinkler system installed and all units are individually metered. This corner property is an excellent investment opportunity for investors or owner-users seeking to maximize income in an established retail and residential neighborhood in Brooklyn.
Location: Block-Lot: Floors: Lot Dimensions: Lot SF: Building Dimensions: Gross Building SF: Gross Commercial SF: Gross Residential SF: Zoning: Commercial FAR: Residential FAR: Available Air Rights: Assessment (14/15): Taxes:
Corner of Nostrand Avenue & Bergen Street 1219-35 3 (Approximately) 35.58’ x 100’ (Approximately) 3,558 (Approximately) 35.58’ x 100’ (Approximately) 5,495 (Approximately) 3,065 (Approximately) 2,430 C1-3/R6A 2.00 3.00 (Approximately) 5,179 $209,753 $22,410
Transportation: The property is centrally located on the corner of Nostrand Avenue and Bergen Street, and is only 3 blocks from the LIRR Nostrand Avenue station, and 4 blocks from the Nostrand avenue subway station that services the & Subway lines. Also within close walking distance from the Subway lines.
654-656 Nostrand Avenue
ASKING PRICE: $3,700,000 For Further Information, Please Contact Exclusive Sales Team: Scott Burk, Esq. (718) 687-4224 [email protected]
Andre R. Sigourney (718) 687-4228 [email protected]
Harrison J. Balisky (718) 687-4214 [email protected]
Keat Chew (718) 687-4209 [email protected]
CPEX Real Estate | 81 Willoughby Street, 8th Fl | Brooklyn, NY 11201 | Tel: (718) 935-1800 | Fax: (718) 935-1822 | www.cpexre.com All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
654-656 Nostrand Avenue - For Sale Crown Heights, Brooklyn, NY 11216 Mixed-Use/Retail Building - Exclusive Listing All information contained herein
Investment Sales
654-656 Nostrand Avenue - Gross Annual Revenue TENANT
USE
LEASE EXPIRATION
OPTIONS
SF
MONTHLY RENT
ANNUAL RENT
PPSF
UPS Store 1
Comm.
6/30/2019
5 Years
962
$2,500
$30,000
$31
NAS Deli & Tobacco 2 Comm.
2/28/2023
5 Years
560
$4,559
$54,704
$98
3
Comm.
6/1/2021
None
1,543
$3,715
$44,583
$29
Apt. 2A
Resi.
M-to-M
N/A
875
$2,000
$24,000
$27
Apt. 2B
Resi.
M-to-M
N/A
875
$2,000
$24,000
$27
Apt. 3A
Resi.
M-to-M
N/A
680
$2,000
$24,000
$35
5,495
$16,774
$201,287
99¢ Plus
Total:
Income & Expenses
Notes:
Commercial Income (Actual)
$129,287
1. The UPS Store occupies approximately 962 SF on the ground floor plus a portion Residential Income (Actual) of the basement. Rent escalates 4% annually and tenant pays 25% of real estate Tax Reimbursements taxes, in addition to heat, electric, water/sewer costs, and repairs & maintenance. Water/Sewer Reimbursements There is a 5-year renewal option at the end of the lease term on 6/30/2019.
$72,000 $9,910 $1,533
Gross Income
2. NAS Deli & Tobacco occupies approximately 560 SF on the ground floor plus a portion of the basement. Rent escalates 4% annually and tenant pays 15% of real estate taxes, in addition to heat, electric, water/sewer costs, and repairs & maintenance. There is a 5-year renewal option at the end of the lease term on 2/28/2023. 3. 99¢ Plus occupies approximately 1,543 SF on the ground floor plus a portion of the basement. Rent escalates 3% annually and tenant pays 10% of the real estate tax increase over base year 2010/11, in adddition to heat, electric, water/sewer costs, and repairs & maintenance. There are no renewal options.
$212,731
Expenses Real Estate Taxes (2014-2015)
$22,410
Water/Sewer (Estimated)
$2,485
Insurance (Estimated)
$4,970
Heat
Pass Through
Electric (Common Area)
$480
Repairs & Maintenance (Residential) Total Expenses
$2,000 $32,345
Net Operating Income
$180,386
Projected CAP Rate
4.9%
ASKING PRICE: $3,700,000 For Further Information, Please Contact Exclusive Sales Team: Scott Burk, Esq. (718) 687-4224 [email protected]
Andre R. Sigourney (718) 687-4228 [email protected]
Harrison J. Balisky (718) 687-4214 [email protected]
Keat Chew (718) 687-4209 [email protected]
CPEX Real Estate | 81 Willoughby Street, 8th Fl | Brooklyn, NY 11201 | Tel: (718) 935-1800 | Fax: (718) 935-1822 | www.cpexre.com All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
Investment Sales Investment Opportunity: 654-656 Nostrand Avenue is a 3 story mixeduse/retail building with 3 residential units and 3 commercial units occupied by , NAS Deli & Tobacco, and 99¢ Plus. The building has a new sprinkler system installed and all units are individually metered. This corner property is an excellent investment opportunity for investors or owner-users seeking to maximize income in an established retail and residential neighborhood in Brooklyn.
Location: Block-Lot: Floors: Lot Dimensions: Lot SF: Building Dimensions: Gross Building SF: Gross Commercial SF: Gross Residential SF: Zoning: Commercial FAR: Residential FAR: Available Air Rights: Assessment (14/15): Taxes:
Corner of Nostrand Avenue & Bergen Street 1219-35 3 (Approximately) 35.58’ x 100’ (Approximately) 3,558 (Approximately) 35.58’ x 100’ (Approximately) 5,495 (Approximately) 3,065 (Approximately) 2,430 C1-3/R6A 2.00 3.00 (Approximately) 5,179 $209,753 $22,410
Transportation: The property is centrally located on the corner of Nostrand Avenue and Bergen Street, and is only 3 blocks from the LIRR Nostrand Avenue station, and 4 blocks from the Nostrand avenue subway station that services the & Subway lines. Also within close walking distance from the Subway lines.
654-656 Nostrand Avenue
ASKING PRICE: $3,700,000 For Further Information, Please Contact Exclusive Sales Team: Scott Burk, Esq. (718) 687-4224 [email protected]
Andre R. Sigourney (718) 687-4228 [email protected]
Harrison J. Balisky (718) 687-4214 [email protected]
Keat Chew (718) 687-4209 [email protected]
CPEX Real Estate | 81 Willoughby Street, 8th Fl | Brooklyn, NY 11201 | Tel: (718) 935-1800 | Fax: (718) 935-1822 | www.cpexre.com All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
654-656 Nostrand Avenue - For Sale Crown Heights, Brooklyn, NY 11216 Mixed-Use/Retail Building - Exclusive Listing All information contained herein
Investment Sales
654-656 Nostrand Avenue - Gross Annual Revenue TENANT
USE
LEASE EXPIRATION
OPTIONS
SF
MONTHLY RENT
ANNUAL RENT
PPSF
UPS Store 1
Comm.
6/30/2019
5 Years
962
$2,500
$30,000
$31
NAS Deli & Tobacco 2 Comm.
2/28/2023
5 Years
560
$4,559
$54,704
$98
3
Comm.
6/1/2021
None
1,543
$3,715
$44,583
$29
Apt. 2A
Resi.
M-to-M
N/A
875
$2,000
$24,000
$27
Apt. 2B
Resi.
M-to-M
N/A
875
$2,000
$24,000
$27
Apt. 3A
Resi.
M-to-M
N/A
680
$2,000
$24,000
$35
5,495
$16,774
$201,287
99¢ Plus
Total:
Income & Expenses
Notes:
Commercial Income (Actual)
$129,287
1. The UPS Store occupies approximately 962 SF on the ground floor plus a portion Residential Income (Actual) of the basement. Rent escalates 4% annually and tenant pays 25% of real estate Tax Reimbursements taxes, in addition to heat, electric, water/sewer costs, and repairs & maintenance. Water/Sewer Reimbursements There is a 5-year renewal option at the end of the lease term on 6/30/2019.
$72,000 $9,910 $1,533
Gross Income
2. NAS Deli & Tobacco occupies approximately 560 SF on the ground floor plus a portion of the basement. Rent escalates 4% annually and tenant pays 15% of real estate taxes, in addition to heat, electric, water/sewer costs, and repairs & maintenance. There is a 5-year renewal option at the end of the lease term on 2/28/2023. 3. 99¢ Plus occupies approximately 1,543 SF on the ground floor plus a portion of the basement. Rent escalates 3% annually and tenant pays 10% of the real estate tax increase over base year 2010/11, in adddition to heat, electric, water/sewer costs, and repairs & maintenance. There are no renewal options.
$212,731
Expenses Real Estate Taxes (2014-2015)
$22,410
Water/Sewer (Estimated)
$2,485
Insurance (Estimated)
$4,970
Heat
Pass Through
Electric (Common Area)
$480
Repairs & Maintenance (Residential) Total Expenses
$2,000 $32,345
Net Operating Income
$180,386
Projected CAP Rate
4.9%
ASKING PRICE: $3,700,000 For Further Information, Please Contact Exclusive Sales Team: Scott Burk, Esq. (718) 687-4224 [email protected]
Andre R. Sigourney (718) 687-4228 [email protected]
Harrison J. Balisky (718) 687-4214 [email protected]
Keat Chew (718) 687-4209 [email protected]
CPEX Real Estate | 81 Willoughby Street, 8th Fl | Brooklyn, NY 11201 | Tel: (718) 935-1800 | Fax: (718) 935-1822 | www.cpexre.com All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
