747 Flushing Avenue, Brooklyn, NY 11206

MIXED-USE BUILDING FOR SALE E WILLIAMSBURG,BK. BROADWAY TRIANGLE

MIXED-USE BUILDING FOR SALE IN EAST WILLIAMSBURG BROOKLYN - BROADWAY TRIANGLE PROPERTY OVERVIEW: Mixed-Use Building with 1 store and 2 apartments on the second and third floors. Lot Size: 21.33 x 83.25 Building: 21.33 x 60 BUILDING: 3,843 Sq. Ft. w/ an allowance to build an additional 1,838 Sq. Ft. Basement includes storage space, and a boiler room with separate access. All tenants responsible for their own utilities. Separate electric meters and two separate boilers for residential tenants. Favorable low taxes $4,318 Conveniently situated across the street from Woodhull Hospital. Half a block from the J & M trains - Flushing Avenue Station. B43 & B57 Buses. PROJECTED MARKET RENTS with NEW LEASES: (currently no leases on residential units) 3-bedroom apartment: $5,100; Current rent $2,100 3-bedroom apartment: $5,100; Current rent $2,100 Commercial/Restaurant: $5,000 (5 year Lease w/ 3% annual increase); Current rent $5,000 w/3% annual increase. Annual Expense: Taxes $4,318 Water $2,000 Electric $3,600 Insurance $5,000 Total $14,918 Projected Total Income: $15,200 Annual Income: $182,400 Less Expenses: 14,918 Projected NOI: $167,482 Projected Cap Rate: 6.7% HPD APPROVED A MASS DEVELOPMENT PROJECT IN BROADWAY TRIANGLE OF NEARLY 400 APARTMENTS. GREAT OPPORTUNITY AWAITS IN THIS SECTOR OF BROOKLYN.