This meticulously maintained investment property consists of 2 completely updated corner mixed-use brick buildings totaling 7,150 SF, including the basement used by commercial tenants (Price per SF $357) with 3 Retail and 4 Residential units.
The buildings are in excellent condition with updated electric systems, new Boilers, W/H, windows, rubber roofs, kitchen cabinets, granite counter-tops, appliances, and so on.
The property is located on the busy commercial avenue in Prime Homecrest / Sheepshead Bay area of South Brooklyn right next to all the public transportation, shopping, schools, parks, restaurants and places of worship.
This property is an excellent choice for the owner-user or savvy investor.
Current NOI is $136,532 with a CAP Rate of 5.5%,
Substantial Upside of about $6,000 of Rental increase in the middle of 2019, bringing NOI to approximately $142,500 and a CAP Rate of 5.7%.
Detailed Offering Memorandum is attached.
Courtesy of City Express Realty Llc
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