1742 Flatbush Ave
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1742 Flatbush Ave
1,980 SF 100% Leased Retail Building Brooklyn, NY 11210 £733,770 (£371/SF) 6.41% Net Initial Yield
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! Free Market Mixed-Use Building On Flatbush Ave. For Sale!!!
- The Property Is Located In The Heart Of Brooklyn Only A Few Blocks From Kings Highway!!!
- The Entire Building Can Be Delivered Vacant If Need Be!
- The Property Features Excellent Signage, Great Exposure, (1) Free Market 2Br. Apt., Strong R5/C2-2 Zoning, High 9’ Ceilings, Low Property Taxes, +++!!
- Neighbors Include Starbucks, Toyota, Acura, Honda, USPS, UPS, Chase Bank, T-Mobile, Target, ShopRite, Optimum, Staples, Life Storage, Dunkin’, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! Free Market Mixed-Use Building On Flatbush Ave. For Sale!!! The Property Features Excellent Signage, Great Exposure, (1) Free Market 2Br. Apt., Strong R5/C2-2 Zoning, High 9’ Ceilings, Low Property Taxes, Separate Meters, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Brooklyn Only A Few Blocks From Kings Highway!!! Neighbors Include Starbucks, Toyota, Acura, Honda, USPS, UPS, Chase Bank, T-Mobile, Target, ShopRite, Optimum, Staples, LIfe Storage, Dunkin’, AutoZone, Dollar Tree, Key Food, YMCA, CityMD, Aldi, +++!!! The Entire Building Can Be Delivered Vacant If Need Be! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!!
Income:
Grocery Store (990 Sqft. + 990 Sqft. LL): $36,000 Ann.; M-M.
2nd Floor Apt. (2 Br., 1 Bath, W/D): $30,000 Ann. Gut Renovated in 2012. (Available)
Pro Forma Gross Income: $66,000 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $250 Ann.
Insurance: $2,800 Ann.
Taxes: $2,826.96 Ann.
Trash: $0
Water & Sewer: $500 Ann.
Total Expenses: $6,376.96 Ann.
Net Operating Income (NOI): $59,623.04 Ann.
Income:
Grocery Store (990 Sqft. + 990 Sqft. LL): $36,000 Ann.; M-M.
2nd Floor Apt. (2 Br., 1 Bath, W/D): $30,000 Ann. Gut Renovated in 2012. (Available)
Pro Forma Gross Income: $66,000 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $250 Ann.
Insurance: $2,800 Ann.
Taxes: $2,826.96 Ann.
Trash: $0
Water & Sewer: $500 Ann.
Total Expenses: $6,376.96 Ann.
Net Operating Income (NOI): $59,623.04 Ann.
Financial Summary (Actual - 2021) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£52,141
|
£26.33
|
| Taxes |
£2,233
|
£1.13
|
| Operating Expenses |
£2,805
|
£1.42
|
| Total Expenses |
£5,037
|
£2.54
|
| Net Operating Income |
£47,104
|
£23.79
|
Financial Summary (Actual - 2021)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £52,141 |
| Annual Per SF | £26.33 |
| Taxes | |
|---|---|
| Annual | £2,233 |
| Annual Per SF | £1.13 |
| Operating Expenses | |
|---|---|
| Annual | £2,805 |
| Annual Per SF | £1.42 |
| Total Expenses | |
|---|---|
| Annual | £5,037 |
| Annual Per SF | £2.54 |
| Net Operating Income | |
|---|---|
| Annual | £47,104 |
| Annual Per SF | £23.79 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
1,980 SF
Building Class
B
Year Built
1920
Price
£733,770
Price Per SF
£371
Net Initial Yield
6.41%
NOI
£47,043
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.53
Land Acres
0.03 AC
Zoning
R5 - Medium density district with a height limit of 40 feet
Frontage
13 ft on Flatbush Ave
Amenities
- 24 Hour Access
- Bus Route
- Commuter Rail
- Public Transport
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Walk Score ®
Walker's Paradise (90)
Transit Score ®
Rider's Paradise (97)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 07598-0037 | Total Assessment | £36,925 (2024) |
| Land Assessment | £9,243 (2024) | Annual Taxes | £2,233 (£1.13/sf) |
| Improvements Assessment | £27,682 (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Number
07598-0037
Land Assessment
£9,243 (2024)
Improvements Assessment
£27,682 (2024)
Total Assessment
£36,925 (2024)
Annual Taxes
£2,233 (£1.13/sf)
Tax Year
2021
-
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1742 Flatbush Ave
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