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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID KEYL3531320
Originating Board onekey2
Rental Info No
Year Built 1926
Annual Tax Amount $123,140
Lot Dimensions 113x73.08
Property Description
Calling All Investors, Developers & End-Users!!! 8.55 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!! The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10' Ceilings, Strong R6/C2-3 Zoning, Signalized Intersection, (4) 3 Br. Apts., (8) 2 Br. Apts., (8) 1 Br., Full Basement, All New LED Lighting, 200 Amp, Power, CAC, +++!!! The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!! Neighbors Include Starbucks, Peter Luger's Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin', Liberty Tax, Meineke Car Care Center, Trader Joe's, McDonald's, IHOP, +++!!! The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!! This Property Offers HUGE Upside Potential!!! This Could Make A Great Addition To Your Investment Portfolio Or Be The Next Home For Your Business!!! Income: Black Flamingo (Bar): $120,000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Diaz Food Center (Grocery Store): $40,200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill. El Gran Canario (Restaurant): $69,600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Juice Bar & Lounge: $39,000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Beauty Salon: $21,600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Unit 2A: $16,500 Ann.; Lease Exp.: 12/31/23. Unit 2B: $24,000 Ann.; Lease Exp.: 6/30/24. Unit 2C: $22,200 Ann.; Lease Exp.: 2/28/24. Unit 2D: $11,544 Ann.; Lease Exp.: 7/31/24. Unit 2E: $10,152 Ann.; Lease Exp.: 12/31/24. Unit 3A: $ 11,724 Ann.; Lease Exp.: 11/30/23. Unit 3B: $18,444 Ann.; Lease Exp.: 6/14/23. Unit 3C: $12,624 Ann.; Lease Exp.: 7/31/23. Unit 3D: $17,880 Ann.; Lease Exp.: 2/28/24. Unit 3E: $11,136 Ann.; Lease Exp: 7/31/24. Unit 4A: $9,240 Ann.; Lease Exp.: 12/31/24. Unit 4B: $10,920 Ann.; Lease Exp.: 3/14/24. Unit 4C: $18,444 Ann.; Lease Exp.: 11/30/23. Unit 4D: $18,792 Ann.; Lease Exp.: 3/31/25. Unit 4E: $9,816 Ann.; Lease Exp.: 3/31/24. Unit 5A: $8,364 Ann.; Lease Exp.: 1/31/25. Unit 5B: $21,000 Ann.; Lease Exp.: 6/30/24. Unit 5C: $8,016 Ann.; Lease Exp.: 12/31/23. Unit 5D: $15,240 Ann.; Lease Exp.: 10/14/23. Unit 5E: $9,204 Ann.; Lease Exp.: 10/14/24. Tax Rebate (Paid By The Stores): $40,636 Ann. Water Rebate (Paid By The Stores): $10,392 Ann. Expenses: Oil: $34,987 Ann. Electric: $3,142 Ann. (Common Area Only) Maintenance & Repairs: $5,000 Ann. Property Super: $5,000 Ann. Insurance: $17,680 Ann. Water: $31,442 Ann. Taxes: $123,140 Ann. Total Expenses: $220,391 Ann. Current Gross Income: $626,668 Ann. Net Operating Income (NOI): $406,277 Ann. (8.55 Cap!!!)
Location
State NY
County Kings (brooklyn)
Interior
Fireplace No
Exterior
Total Parking Spaces 6
Private Pool No
Building
Story 5
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp
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