Howard Cheung - Commercial Real Estate Showcase

Howard Cheung Property Listings
Owner
Homestead Bound Llc
2333 82nd St
Brooklyn, NY 11214
(646) 701-1931


DetailMap
99 Kingsland Avenue

Brooklyn, NY 11222-5660 - North Brooklyn Submarket


Property Type:Office Sub Type:Office/Residential Status:Existing Year Built:2005
Stories:4 Typical Floor:- Building Size:15,706 SF
For Sale Price:Condo (see detail) Price/SF:For Sale
Cap Rate:-
Condos:This property has 1 condo for sale. The size of the for sale condo is 400 SF.


Condos For Sale:
Floor
Suite
Unit SF
Price
Space Use
  1st
101
400 SF
$450,000
Office
 
3047615


Floor
Suite
Unit SF
Price
Space Use
1st
101
400 SF
$450,000
Office

Sale Notes:
Commercial retail/office condo for sale in prime Williamsburg/Greenpoint location. The space is currently rented to a Smoke Shop paying $1900/month along with $200/month credit to cover the utilities portion of the HOA fee($426.16/month). There is a current lease in place for the next 10 years, with a 3% increase built-in annually. This guarantees a great return for many years to come. There is also a 421A tax exemption(15 years) in place so the current property taxes are only $82/year, which the tenant is 100% responsible for.

NOI = $20,087/year. High current cap rate with huge potential for even higher return down the road. Great investment for an unheard of low price.

Note: the unit is currently in the process of being built out.
The retail condo is minutes to McDonald's, Staples, and many boutique shops. Walking distance to the L subway on Graham Avenue and a short commute to Manhattan.

Unit is part of the Metroplex Suites Condominium with 24 residentials units and 2 commercial spaces.



Homestead Bound Llc
Howard Cheung
(646) 701-1931


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