Super Prime Flatbush – Mixed Use Income Property!
Money Maker in Prime Flatbush Location – “The Junction”. 20′ wide, 3 story Mixed Use brick building with 1 Store plus 2 Residential Units. Approx. 2700 Gross Sq Ft. plus an additional 900 sf basement. Current income provides an actual CAP rate of 5.3%. 2120 Nostrand Avenue is between Flatbush Avenue and Glenwood Road, a continually thriving shopping destination.
Features a stable tenancy; all tenants are current in rent payments.
An asset that is easy to manage and maintain.
Store; Gross Annual Income (year 9 of a 15 year lease); $76,006.
Residential Units Gross Annual Income:
apt #1, $16,800. (no lease)
apt #2, $13,800. (no lease)
Total Gross Annual Income; $106,606.
Annual Real Estate Taxes: $7,487.
Other Expenses (elec. and 30% of water): $1,350.
Actual Cap Rate: 5.3%
Excellent Investment Opportunity- great for a 1031 Exchange
FAR/MAX FAR: 2.39/3.4
Please contact Michael Sabin for further information/an appointment:
Cell: 917 975-7491