Fully Occupied Seven Unit Mixed Use Building For Sale
414-416 Tompkins Avenue
Bedford-Stuyvesant
Closed 10/24/2014 at
$2,000,000
B43
I would like to be contacted:
718-768-6888
Want Ofer to contact you?
I would like to be contacted:
Google MapsDetails
Overview
The mixed use building at 414-416 Tompkins Avenue is now offered for sale. The building is located on Tompkins Avenue between Hancock Street and Halsey Street in the Bedford Stuyvesant neighborhood of Brooklyn.
The building consists of six residential units and one commercial unit. The property is currently configured as two buildings but the ownership is in the process of obtaining a new certificate of occupancy to combine the buildings into one. The property is fully occupied and has a gross annual income of over $10,200/monthly. With Estimated expenses at $30,700, the net operating income is approximately $92,700.
The property is situated on Tompkins Ave surrounded by a growing presence of note-worthy restaurants, boutiques & cafes. The property is also located only blocks away from Tompkins Park. The area has seen tremendous growth in the last 3 years. Despite the recent recession, the Bedford Stuyvesant area continued to improve. Residential retail rents have increased steadily as more new residents are migrating from out of town calling Bed-Stuy their first NYC home.
Attractions
Since 2008, a score of new cafes, restaurants, bakeries, boutiques and wine bars have sprung up in the areas with a concentrated growth found along the western and southern parts of the neighborhood to cater to new residents moving into the area. In 2011, Bedford Stuyvesant listed three Zagat rated restaurants for the first time, one of which being Peaches Hothouse located right across the street at 415 Tompkins Avenue.