Howard Cheung - Commercial Real Estate Showcase
Howard Cheung Property Listings
Homestead Bound Llc
2333 82nd St
Brooklyn, NY 11214
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99 Kingsland Avenue
Brooklyn, NY 11222-5660 - North Brooklyn Submarket
For Sale Price:
Condo (see detail)
This property has 1 condo for sale. The size of the for sale condo is 400 SF.
Condos For Sale:
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.
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CONDO SALE CONTACTS
Homestead Bound Llc
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