2573 Atlantic Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11207- Cypress Hills
$875,000 USD
718-894-8700
2573 Atlantic Ave, Brooklyn, NY for Sale
$875,000 USD
Storefront Retail/Residential - FOR SALE
1/12
null | 5.68% Cap Rate

2573 Atlantic Ave
Brooklyn, NY 11207
Cypress Hills


HIGHLIGHTS

  • RECENT GUT RENOVATED INTERIOR-MODERN, MINT CONDITION
  • IDEAL WORK LIVE SPACE
  • TENANTS HAVE SHORT TERM LEASES

OVERVIEW

PRICE IMPROVEMENT This mixed-use property offers an ideal live/work space. It has been Fully gut renovated in 2020 with all systems updated. The spacious duplexed studio, spanning approximately 1,400 sq. ft., includes a kitchenette, bathroom, and access to a full basement which is included with the unit. This unit is currently rented for $2,500 per month with a short term 6-month lease and then month to month afterwards. The second-floor unit, approximately 750 sq. ft., features a well-appointed kitchen, a bright living room, two bedrooms, and a full bathroom. The apartment boasts gorgeous wood floors, three skylights that flood the space with natural light, and access to a private deck and rooftop space. The Current tenants pay $2,500 per month and have a month-to-month lease. The storefront, basement, and back patio offer dual income. This property incurs low expenses with tenants paying all utilities and heat. The owner pays minimal gas, water, real estate taxes and insurance. With an approx. NOI of $50,600, based on CAP rates in the area this property offers a higher return compared to similar properties. Both units are equipped with mini-split systems for efficient heating and cooling, ensuring year-round comfort. This property has been thoughtfully renovated with all-new wiring, plumbing, and mini-split systems. Additionally, it is upgraded with 3-phase power and 200A service, offering optimal electrical capacity for modern needs. Please note, in order to view the 2nd floor on the video walk through: When the video starts, it shows the studio facing the kitchen and bathroom area. PLEASE CLICK THIS LINK FOR A VIRTUAL TOUR: Please note: To access the second floor on the virtual tour, you'll need to turn the view around to face the opposite door. There, you'll see a circle with an arrow. Hover over it, and an option to go upstairs will appear. Once you click this, it will take you to the second floor. https://my.matterport.com/show/?m=cqvSSw28R1r SEE ATTACHED SET UP FOR DETAILED INCOME, EXPENSE AND BUILDING INFORMAION.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$546 USD /SF

CAP RATE

5.68%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1905

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

1,006 SF

ZONING

M1-1

APN/PARCEL ID

03667-0038

ASK ABOUT THIS PROPERTY

Salvatore CrifasiCrifasi Commercial Real EstateMore Info
718-894-8700

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Salvatore CrifasiCrifasi Commercial Real EstateMore Info
718-894-8700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.