747 Flushing Avenue, Brooklyn, NY 11206

MIXED-USE BUILDING FOR SALE IN E WILLIAMSBURG,BK. PRIME LOCATION

MIXED-USE BUILDING FOR SALE IN EAST WILLIAMSBURG BROOKLYN. PRIME LOCATION. PROPERTY OVERVIEW: Mixed-Use Building with 1 store and 2 apartments on the second and third floors. 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. BUILDING: 3,843 Sq. Ft. w/ an allowance to build an additional 1,838 Sq. Ft. Current Rent Rolls: 3-bedroom box room apartment: $2,200 (No Lease) 3-bedroom box room apartment: $2,000 (No Lease) Commercial Space/Restaurant: $5,000 (5 year Lease w/ 3% annual increase) NOI $95,482 Cap Rate 3.8% Annual Expense: Taxes $4,318 Water $2,000 Electric $3,600 Insurance $5,000 Total $14,918 PROJECTED MARKET RENTS with NEW LEASES: 3-bedroom apartment: $5,100 3-bedroom apartment: $5,100 Commercial Space: $5,000 Projected Total Income: $15,200 Projected Annual Income: $182,400 Expenses: 14,918 Projected NOI: $167,482 Projected Cap Rate: 6.7% This property presents a compelling investment opportunity with significant potential for increased income and adjusting rents to market rates. With a projected cap rate of 6.7%, it offers attractive returns for investors seeking to capitalize on a mixed-use property in a business district.