661 Central Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11207- Bushwick
$2,399,999 USD
888-276-0630
661 Central Ave, Brooklyn, NY for Sale
$2,399,999 USD
Storefront Retail/Residential - FOR SALE
1/22
null | 7.54% Cap Rate

661 Central Ave
Brooklyn, NY 11207
Bushwick


OVERVIEW

Free-market mixed-use corner building consisting of 2 commercial units plus 4 residential units. The sale includes the operating laundromat business in the front commercial space together with all laundromat machines, which are owned outright and included in the purchase price. Laundromat operates daily from 6:00 AM to 10:00 PM. Seller reports laundromat income of approximately $19,000/month, including self-service revenue of approximately $2,500/week and drop-off revenue of approximately $300/day, with no pickup service currently offered. Seller reports laundromat expenses of approximately $12,750/month, including building water at approximately $9,000 every 3 months, laundromat gas at approximately $1,800/month, folding attendant labor at approximately $175/day, and current rent allocated to the laundromat at $2,700/month. Property offers strong existing cash flow plus meaningful upside through lease-up, renovation, and potential new CofO configuration. Current NOI is approximately $181,060, with higher projected returns under as-is, renovated, and renovated plus new CofO scenarios. Existing configuration is 2 commercial + 4 residential, with projected future potential for 2 commercial + 5 residential subject to approvals/new CofO. Asking price: $2,399,999.

FOR SALE DETAILS

PRICE

$2,399,999 USD

PRICE/SF

$386 USD /SF

CAP RATE

7.54%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1906

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

M1-1

APN/PARCEL ID

03447-0010

ASK ABOUT THIS PROPERTY

Luis AlvarezeXp RealtyMore Info
888-276-0630

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Luis AlvarezeXp RealtyMore Info
888-276-0630

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