Listed by Brown Harris Stevens
$1,500,000
2218 Fulton Street
Details
Property Type Mixed Use
Sub Type 3
Square Footage 2,400
Net Rentable (SqFt) 2,400
Units 2
Occupancy 80%
Pro-Forma Cap Rate 4.45%
Pro-Forma NOI $66,773
Price per SqFt $625
Class C
Buildings 1
Stories 3
Lot Size (SqFt) 2,000
Zoning R6 (2.43)
Investment Type Redevelopment
Ownership Local
Mixed Use | 2,400 SF
Marketing description
A 20’ wide 2-unit three-story mixed-use building. The property has a store on the ground floor, which is occupied by a Church. This floor has access to the basement and back yard. The second floor is a two-bedroom apartment. The third floor is also a two-bedroom apartment. The units have a full kitchen and bathroom along with a living/dining area. The property is individually metered for electric and gas.
Investment highlights
The property is a prime investment opportunity, an investor can renovate the apartments and charge market rents for them. The units can have their own boilers and water heaters.
The building makes a great user opportunity, they can have their business on the first floor, live on the second floor and rent out the third floor for income.
The property is prime development opportunity, a developer can renovate the units and rent them at full market value. The air rights can be used to extend the floors another 30’ at the rear, turning each apartment into a four bedroom unit. The top floor can also be developed into a duplex apartment.
Ocean Hill is under a lot of development with new buildings and retail stores being built. There is easy access to Downtown and Manhattan via Broadway Junction Station which has the A, C and L trains.
Listing Contacts
Listed by Brown Harris Stevens
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
