1,920 SF Mixed-Use Building

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the mixed use building at 1876 A Fulton Street in the Bedford Stuyvesant neighborhood of Brooklyn. The building is located between Patchen Avenue and Ralph Avenue, less than 1 block from the Ralph Avenue C subway station and approximately 1½ blocks from the Utica Avenue A express subway line.   The brick building consists of 2 residential units, 1 retail store and a 2 car garage.  The retail store is occupied by an outstanding restaurant tenant.  The restaurant pays $3,200/month and also pays 75% of the water bill for the building and one-third of the total real estate taxes.  The 2 residential units are vacant and need to be renovated.  One of the units is configured as a 2 bedroom and the other is configured as a 1 bedroom unit. There is also a 2 car garage that is being rented at $250/month. The property has projected income of approximately $80,000/year when fully occupied, which equates to a 7.25% Cap Rate after renovation.  The property also has substantial development potential as it has 2,872 additional buildable air rights.