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 for efficient financial management. Conveniently situated just half a block from the J & M trains - Flushing Avenue Station. B43, B57 Buses. Woodhull Hospital 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) Total $9,200 Annually $110,400 Expenses 14,918 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.