Offering Summary
SVN | SVN CPEX Real Estate has been exclusively hired to market for sale 5817 Avenue T, located in the Mill Basin neighborhood of Brooklyn, NY. The corner commercial building boasts 177’ of wraparound frontage and is income producing. The building itself is 16,090 square feet with six commercial units and four residential units. The property’s diverse tenancy and strong cashflow make this an excellent high cap rate opportunity.
Property Highlights
- Income producing property
- 177’ of wrap around frontage
- Parking in rear
- Steps from the B100 bus stop
- PPSF: $240
- Cap Rate: 8.23%
Property Facts
- Address 5817 Avenue T, Brooklyn, NY 11234
- Block Lot 8380_2
- Buildable SF 16,090 SF
- Location Corner of Avenue T and East 59th Street
- Lot Dimensions 113.49’ x 100’ (irregular)
- Lot Size 11,850 SF *
- Building Class K2
- Building Size 16,090 SF
- Residential Units 4
- Commercial Units 6
- Zoning R5, C1-2
- Taxes $111,125
- * Approximate
Financials
- REVENUE
- Commercial Income $308.508
- Residential Income $119,700
- Miscellaneous Income $60,190 (Tax/Water Reimbursements)
- Gross Annual Income $488,398
- EXPENSES
- SUMMARY
- Expenses $171,421
- Net Operating Income (NOI) $316,976
- Cap Rate 8.23%
- Notes * Please inquire for full breakdown of income and expenses