911 DeKalb Ave - Storefront Retail/Office FOR SALE


Brooklyn, NY 11221- Bedford-Stuyvesant
$1,500,000 USD
516-941-8975
911 DeKalb Ave, Brooklyn, NY for Sale
$1,500,000 USD
Storefront Retail/Office - FOR SALE
1/7
null | 7.01% Cap Rate

911 DeKalb Ave
Brooklyn, NY 11221
Bedford-Stuyvesant


HIGHLIGHTS

  • Stable Income
  • Free-Market Potential
  • Large Residential Units

OVERVIEW

*Three Residential Units Plus One Commercial/Restaurant)* -Free-market potential! Stable income with plenty of upside. -The commercial space is currently occupied and renting for $7,000/month. -The three residential units above are all 3-Bedroom/1 Bath. All three units are RENT STABILIZED. -The owner of 911 Dekalb currently benefits from the J-51 Tax Abatement, which is why the residential units are rent stabilized. The tax abatement expires in 10 years. -The commercial space is on a 3-year lease with a 2-year option. There will be 3% increases yearly, including the option years. The tenant will also be paying one-third of the building's real estate taxes. The current cap rate for the property is 7%. All residential units become free-market when the tax abatement expires and the apartments are vacant.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$296 USD /SF

CAP RATE

7.01%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Restaurant, Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,669 SF

ZONING

R6A/C2-4

APN/PARCEL ID

01777-0040

ASK ABOUT THIS PROPERTY

Steven PuccioHighline ResidentialMore Info
516-941-8975

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Steven PuccioHighline ResidentialMore Info
516-941-8975

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