Mixed-Use Building For Sale 1587 Fulton Street Bedford-Stuyvesant, Brooklyn, NY 11207 Block & Lot:
1859 / 35
Zoning:
R7D / C2-4
FAR:
4.2
Lot Size:
20’ X 91.92’ (Approx.)
Lot SF:
1,793 SF (Approx.)
Bldg. Size:
20’ x 91.92’ (Approx.)
Bldg. SF:
2,940 SF (Approx.)
Total BSF:
7,531 SF (Approx.)
Additional Air Rights:
4,591 SF (Approx.)
R.E. Taxes:
$2,879 (’14/’15)
Assessment:
$15,000 (’14/’15)
CURRENT / PROJECTED REVENUE
PROJECTED EXPENSES
Unit
Type
Size (SF)
Rent
Rent / SF
Annual Rent
Commercial*
Retail
1,780
$4,500
$30.34
$54,000
2F – Free Market
Loft
600
$1,450
$29.00
$17,400
2R – Free Market
Loft
560
$1,450
$31.07
$17,400
2,940
$7,400
Total Gross Income:
Type
MK Metrics
Projected
Vacancy & Credit Loss:
Partial
$2,800
Effective Gross Income:
$1.00 / SF
$2,940
*Represents the highest offer received for Retail Space.
Water & Sewer*
$1.00 / RSF
$1,100
Heating Fuel*
$1.75 / RSF
$1,925
Electric (Common)
$0.15 / SF
$441
Repairs & Maintenance
$500 / Unit
$1,500
Exp. Ratio: 12.43%
$10,706
R.E. Taxes (14/15)* Insurance
Total: Effective Gross Income
$86,136
Less Expenses
($10,706)
Net Operating Income
$75,430
$88,800 3%
($2,664) $86,136
Property Highlights • Building can be delivered vacant. • Two-story mixed-use building with 2 residential units over 1 retail space • Conveniently located 1 block from the
C
train at Kingston-Throop Avenue station, on
Fulton Street, one of Brooklyn’s primary retail corridors. • Residential apartments are updated with granite countertops, stainless steel appliances, hardwood floors, and 14 foot ceilings. • Property benefits from a total of 7,531 BSF for mixed-use development in a area that has underwent massive development in the past years.
*Commercial tenant pays a portion of the expenses.
ASKING PRICE: $1,300,000 For complete offering information or inspection, please contact Exclusive Agents: Michael Amirkhanian
DJ Johnston
Robert Moore
William Cheng
Maria D’Angelo
Director of Sales
[email protected] Senior Associate
[email protected] Senior Associate
[email protected] Senior Associate
[email protected] Administrative Assistant
[email protected] Tel: (718) 606-7073
Tel: (718) 307-6515
Tel: (718) 606-7046
Tel: (718) 606-7037
Tel: (718) 307-6521
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
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER
Mixed-Use Building For Sale 1587 Fulton Street Bedford-Stuyvesant, Brooklyn, NY 11207
Subject Property
C
Kingston Throop Avenue
A C
New Development Across From Property
Utica Avenue
Other Sites of New Developments Interfaith Medical Center
ASKING PRICE: $1,300,000 For complete offering information or inspection, please contact Exclusive Agents: Michael Amirkhanian
DJ Johnston
Robert Moore
William Cheng
Maria D’Angelo
Director of Sales
[email protected] Senior Associate
[email protected] Senior Associate
[email protected] Senior Associate
[email protected] Administrative Assistant
[email protected] Tel: (718) 606-7073
Tel: (718) 307-6515
Tel: (718) 606-7046
Tel: (718) 606-7037
Tel: (718) 307-6521
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
BROOKLYN
MANHATTAN
NASSAU
QUEENS
STATEN ISLAND
WESTCHESTER