Listed by Brown Harris Stevens
$690,000
316 East 26th Street
Details
Property Type Land
Sub Type Residential
Pro-Forma Cap Rate 26.44%
Pro-Forma NOI $182,437
Lot Size (SqFt) 2,100
Zoning R6 (2.43) Height Limit 70’
Ownership LOCAL
Land | 2,100 SqFt
Marketing description
A 20’ wide vacant with approve plans for a 6-unit four story building. The foundation, basement and first floor is already built.
The upper floors need to be built.
The first floor will be a two-bedroom floor-through apartment. The two-bedrooms are located to the back of the unit. There will be a full bathroom along with a kitchenette, living/dining area.
The second floor will be a three-bedroom floor-through apartment. One bedroom will be located to the front and the other two located to the back. There will also be two full bathrooms and a living/dining area.
The third floor will have two one-bedroom apartments. They will be located to the front and back of the building. The units will have a full bathroom, a kitchenette and a living/dining area.
The fourth floor will have two one-bedroom apartments. They will be located to the front and back of the building. The units will have a full bathroom, a kitchenette and a living/dining area. Please contact me for approve plans.
Investment highlights
The property is a prime development opportunity, because it’s being sold with approve plans. Since the foundation is done and the original building has been taken down the developer will be saving on hard costs.
The site is close to Rogers Avenue which has a lot of new developments. Nostrand Avenue has all the fine retail stores and restaurants. The property is four blocks from the 2 & 5 trains on Nostrand & NewKirk Avenues.
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?
