Description
Rare Opportunity in Prime Bay Ridge, Brooklyn!This one-story, two-family mixed-use building is a must-have in your investment portfolio. All units are currently rented, generating a gross annual income of $134,400, with a 3% yearly increase.The storefront, approximately 2,000 square feet including the ground floor and basement, is currently operating as a liquor store. It comes with a fresh 10-year lease and a 5-year renewal option. The commercial tenant pays $350 quarterly for water and 50% of any annual property tax increases.The second and third floors each feature two-bedroom residential units, both occupied by reliable tenants who consistently pay rent on time.The building was gutted and fully renovated a few years ago at a significant cost to the owner. The net income is approximately $116,000 per year.Ideally located in the heart of Bay Ridge's commercial district, just minutes from the I-278 as well as from the R train, this property offers convenience and strong investment potential.Rent roll and detailed expense information available upon request.
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0BEDS
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0.04ACRES
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0BATHS
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01/2 BATHS
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3,990SQFT
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$596$/SQFT
School Ratings & Info
Description
Rare Opportunity in Prime Bay Ridge, Brooklyn!This one-story, two-family mixed-use building is a must-have in your investment portfolio. All units are currently rented, generating a gross annual income of $134,400, with a 3% yearly increase.The storefront, approximately 2,000 square feet including the ground floor and basement, is currently operating as a liquor store. It comes with a fresh 10-year lease and a 5-year renewal option. The commercial tenant pays $350 quarterly for water and 50% of any annual property tax increases.The second and third floors each feature two-bedroom residential units, both occupied by reliable tenants who consistently pay rent on time.The building was gutted and fully renovated a few years ago at a significant cost to the owner. The net income is approximately $116,000 per year.Ideally located in the heart of Bay Ridge's commercial district, just minutes from the I-278 as well as from the R train, this property offers convenience and strong investment potential.Rent roll and detailed expense information available upon request.
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