HUGE MIXED-USE MULTI-FAMILY CORNER BRICK PROPERTY FOR SALE!
Within Dynamic commercial hub of Bensonhurst Market. This classic property with its elegant architectural design as a 2 story with full basement is situated on a entire lot 20X100 ft. Potentially high income generating building features 5 commercial/retail stores and 2 residential apartments. Currently commercial space is used as laundromat, lease expiring on November 2019. 7011 20th Avenue has tremendous potential for mixed use properties as being the hub of growing businesses such as offices, restaurants, groceries, banks, bakeries, stores, fast foods, pharmacies. 1st FLOOR: Commercial space is presenting approximately 4,000 Sq.ft including the basement. Option to divide as 5 retail store/ commercial spaces. 2nd FLOOR: Two residential apartments approximately 2,000 Sq. ft. Interior. Featuring 10 rooms, 5 bedrooms 2 kitchens and 3 full baths. PROJECTED RENTAL INCOME: LAUNDROMAT 2,000 SQ. FT. W/ BASEMENT: Monthly rent $6000 X 12 = Annual Rent $72,000 Per Sq. Ft. $36 STORE-1: 300 SQ. FT. W/ BASEMENT: Monthly rent $2000 X 12 = Annual Rent $24,000 Per Sq. Ft. $40 STORE-2: 300 SQ. FT. W/ BASEMENT: Monthly rent $2000 X 12 = Annual Rent $24,000 Per Sq. Ft. $40 STORE-3: 300 SQ. FT. W/ BASEMENT: Monthly rent $2000 X 12 = Annual Rent $24,000 Per Sq. Ft. $40 RESIDENTIAL-2R: $ 2,933 X 12 = $35,200 annual rent. (Per sq. ft. $32) RESIDENTIAL-2L: $ 2,400 X 12 = $28,800 annual rent. (Per sq. ft. $32) PROJECTED Annual Gross Income $208,000.00 Annual Expenses $25,000.00 Net Operating Income $183,000.00 Cap Rate 7.32% at asking Price. Possible deliver vacant on title.
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