Prime Block Mixed-Use Building For Sale 1542 Flatbush ... - Agorafy
Prime Block Mixed-Use Building For Sale 1542 Flatbush Avenue Brooklyn, NY 11210 Location:
The west side of Flatbush Avenue between Hillel Place and Glenwood Road
Block / Lot:
7557 / 63
Lot Dimensions: Lot Size:
20' x 100' 2,000
(approx.)
Current Building Dimensions: Current Gross SF:
20' x 55' 3,300
(approx.)
Zoning:
C4-4A
Tax Assessment (14/15): R.E. Taxes (14/15):
$195,074 $20,842
Unit
PPSF
SF
Retail*
$125
1,800
Projected Projected Monthly Rent Annual Rent $ 18,750 $ 225,000
2nd Floor - 3br Apt
$32
1,000
$
3rd Floor - 3br Apt
$31
1,000
$
3,800
$
2,700 $ 2,550 $ 24,000
$
32,400 30,600 288,000
*Projected Rent; assumes ground floor built out.
The Offering: The subject property is a three-story mixed-use building with two newly renovated three-bedroom apartments and a retail store. The retail store will be delivered vacant, and the buildings’ façade has just been redone.
The property is located two blocks from Brooklyn College in the heart of the Flatbush Junction, with countless national retailers and retail rents up to $200/SF. It is located steps from the Flatbush Avenue/Brooklyn College [2/5] train, which has approximately 6,500,000 annual riders, 6th most in all of Brooklyn.
Asking Price: $4,250,000
205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
This is an opportunity for an investor to acquire a property 275 Madison 3rdretail Floor block with 118-35 Queens Boulevard, 14th Floor onAvenue, a prime tremendous foot traffic and New York, NY 10016 Forest Hills, NY 11375 brand new free market apartments that are tailored T: 212-696-2500 / F: 212-696-0333 T: 718-275-3400 / F: 718-275-5478
For additional information, please contact Exclusive Agent:
Richard Velotta Director [email protected] (718) 606-7065
perfectly to the surrounding college community. By building out the existing ground floor and renting the retail unit for a projected $125/SF, an investor can achieve a gross annual rent roll of approximately $288,000.
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
Prime Block Mixed-Use Building For Sale 1542 Flatbush Avenue Brooklyn, NY 11210 Map of Retailers
2 5
2 5
205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
275 Madison Avenue, 3rd Floor New York, NY 10016 T: 212-696-2500 / F: 212-696-0333
118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478
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
Prime Block Mixed-Use Building For Sale 1542 Flatbush Avenue Brooklyn, NY 11210 EXPENSES:
Projected
Real Estate Taxes (14/15) Insurance Water & Sewer Utilities Repairs & Maintenance Management
Full Taxes $1.00 / GSF $1.25 / GSF $1.25 / GSF 3.0% of EGI 3.0% of EGI
Total:
205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
275 Madison Avenue, 3rd Floor New York, NY 10016 T: 212-696-2500 / F: 212-696-0333
$ $ $ $ $ $
20,842 3,800 4,750 4,750 8,510 8,510
$
51,163
118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478
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
The west side of Flatbush Avenue between Hillel Place and Glenwood Road
Block / Lot:
7557 / 63
Lot Dimensions: Lot Size:
20' x 100' 2,000
(approx.)
Current Building Dimensions: Current Gross SF:
20' x 55' 3,300
(approx.)
Zoning:
C4-4A
Tax Assessment (14/15): R.E. Taxes (14/15):
$195,074 $20,842
Unit
PPSF
SF
Retail*
$125
1,800
Projected Projected Monthly Rent Annual Rent $ 18,750 $ 225,000
2nd Floor - 3br Apt
$32
1,000
$
3rd Floor - 3br Apt
$31
1,000
$
3,800
$
2,700 $ 2,550 $ 24,000
$
32,400 30,600 288,000
*Projected Rent; assumes ground floor built out.
The Offering: The subject property is a three-story mixed-use building with two newly renovated three-bedroom apartments and a retail store. The retail store will be delivered vacant, and the buildings’ façade has just been redone.
The property is located two blocks from Brooklyn College in the heart of the Flatbush Junction, with countless national retailers and retail rents up to $200/SF. It is located steps from the Flatbush Avenue/Brooklyn College [2/5] train, which has approximately 6,500,000 annual riders, 6th most in all of Brooklyn.
Asking Price: $4,250,000
205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
This is an opportunity for an investor to acquire a property 275 Madison 3rdretail Floor block with 118-35 Queens Boulevard, 14th Floor onAvenue, a prime tremendous foot traffic and New York, NY 10016 Forest Hills, NY 11375 brand new free market apartments that are tailored T: 212-696-2500 / F: 212-696-0333 T: 718-275-3400 / F: 718-275-5478
For additional information, please contact Exclusive Agent:
Richard Velotta Director [email protected] (718) 606-7065
perfectly to the surrounding college community. By building out the existing ground floor and renting the retail unit for a projected $125/SF, an investor can achieve a gross annual rent roll of approximately $288,000.
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
Prime Block Mixed-Use Building For Sale 1542 Flatbush Avenue Brooklyn, NY 11210 Map of Retailers
2 5
2 5
205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
275 Madison Avenue, 3rd Floor New York, NY 10016 T: 212-696-2500 / F: 212-696-0333
118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478
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
Prime Block Mixed-Use Building For Sale 1542 Flatbush Avenue Brooklyn, NY 11210 EXPENSES:
Projected
Real Estate Taxes (14/15) Insurance Water & Sewer Utilities Repairs & Maintenance Management
Full Taxes $1.00 / GSF $1.25 / GSF $1.25 / GSF 3.0% of EGI 3.0% of EGI
Total:
205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
275 Madison Avenue, 3rd Floor New York, NY 10016 T: 212-696-2500 / F: 212-696-0333
$ $ $ $ $ $
20,842 3,800 4,750 4,750 8,510 8,510
$
51,163
118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478
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
