Overview

This 4-story property offers the unique opportunity to obtain free market residential units, a highly desirable corner retail space along with additional cell tower income.

The corner building consists of 4 free-market apartments, 2 retail spaces, 1 office space and a cell tower. The retail spaces are occupied by a jewelry store and a cell phone store, both on a month-to-month basis. Three out of four apartments are vacant, and the 4th unit is also month-to-month. Fully-occupied, the building can generate an annual gross income of ~$416,000 and a net operating income of ~$295,000.

The property is located on one of the busiest retail strips in Brooklyn and is in very close proximity to the R train and numerous national tenants, including City MD, T-Mobile, Duane Reade, Rite Aid, Capital One Bank, Chase Bank, Snipes, GNC, Burger King & McDonald’s.