Overview
Calling All Investors, Developers & End-Users!!! 8.13 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!! The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R6/C2-3 Zoning, Signalized Intersection, (4) 3 Br. Apts., (8) 2 Br. Apts., (8) 1 Br., Full Basement, All New LED Lighting, 200 Amp, Power, CAC, +++!!! The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!! Neighbors Include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin’, Liberty Tax, Meineke Car Care Center, Trader Joe’s, McDonald’s, IHOP, +++!!! The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!! This Property Offers HUGE Upside Potential!!! This Could Make A Great Addition To Your Investment Portfolio Or Be The Next Home For Your Business!!! Income: Black Flamingo (Bar): $120, 000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Diaz Food Center (Grocery Store): $40, 200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill. El Gran Canario (Restaurant): $69, 600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Juice Bar & Lounge: $39, 000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Beauty Salon: $21, 600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill. Unit 2A: $16, 500 Ann. Unit 2B: $24, 000 Ann. Unit 2C: $22, 200 Ann. Unit 2D: $11, 544 Ann. Unit 2E: $10, 152 Ann. Unit 3A: $ 11, 724 Ann. Unit 3B: $18, 444 Ann. Unit 3C: $12, 624 Ann. Unit 3D: $17, 880 Ann. Unit 3E: $11, 136 Ann. Unit 4A: $9, 240 Ann. Unit 4B: $10, 920 Ann. Unit 4C: $18, 444 Ann. Unit 4D: $18, 792 Ann. Unit 4E: $9, 816 Ann. Unit 5A: $8, 364 Ann. Unit 5B: $21, 000 Ann. Unit 5C: $8, 016 Ann. Unit 5D: $15, 240 Ann. Unit 5E: $9, 204 Ann. Tax Rebate (Paid By The Stores): $40, 636 Ann. Water Rebate (Paid By The Stores): $10, 392 Ann. Expenses: Oil: $34, 987 Ann. Electric: $3, 142 Ann. (Common Area Only) Maintenance & Repairs: $5, 000 Ann. Property Super: $5, 000 Ann. Insurance: $17, 680 Ann. Water: $31, 442 Ann. Taxes: $123, 140 Ann. Total Expenses: $220, 391 Ann. Current Gross Income: $626, 668 Ann. Net Operating Income (NOI): $406, 277 Ann. (8.13 Cap!!!)