Listed by All Island Estates Realty Corporation
$3,500,000
2925 Avenue J + 2374 Nostrand Avenue
Details
Property Type Mixed Use
Sub Type Mixed Use
Units 7
Year Built 1930
Lot Size (SqFt) 204,600
Zoning R6 C2-2
Parking Spaces spaces
Mixed Use
Marketing description
Calling All Investors, Developers & End-Users!!! 100% Occupied 7 Unit Mixed-Use Corner Building In Midwood For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 9’ Ceilings, R6/C2-2 Zoning, 3 Apartments, 4 Stores, Basement, All New LED Lighting, 200 Amp Power, CAC, +++!!! The Property Is Located In The Heart Of Midwood Just Blocks From Flatbush Avenue & Brooklyn College!!! Neighbors Include USPS, Honda, Bank Of America, Target, ShopRite, Staples, T.J. Maxx, Dunkin’, Dollar Tree, Pathmark, Aldi, +++!!! The Building Has 102’ Of Frontage On Nostrand Avenue + 22’ Of Frontage On Avenue J!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Chinese Restaurant (Corner Store + LL): $42,000 Ann.; M-M.
Shoe Repair Shop: $23,400 Ann.; M-M.
Coffee Shop: $24,000 Ann.; M-M.
Beauty Salon: $54,000 Ann.; M-M.
Apt 1A. (1 Br. Apt.): $23,400 Ann.; M-M.
Apt. 2A (Studio): $13,800 Ann.; M-M.
Apt. 3A (2 Br. Apt): $24,000 Ann.; M-M.
Gross Income: $204,600 Ann.
Expenses:
Gas: $6,477 Ann. (Whole Building)
Electric: $541 Ann. (Hallway & Basement Only)
Maintenance & Repairs: $3,500 Ann.
Insurance: $11,500 Ann.
Water & Sewer: $5,157 Ann.
Taxes: $20,243.32 Ann.
Total Expenses: $47,418.32 Ann.
Net Operating Income (NOI): $157,181.68 Ann.
Listing Contacts
Listed by All Island Estates Realty Corporation
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