Any one intrested
99 belmont ave brooklyn ny
99 Belmont Ave Brooklyn NY
Mixed Use building delivered vacant - Projected 8.7 Cap Rate
The property is located just off the intersection of two of Brownsville's main commercial strips -- Belmont Avenue and Mother Gaston Blvd. It is also 1 block from Pitkin Avenue -- the neighborhood's main retail strip. This is a great opportunity for an investor or an owner/user.
this brick building has two large 3-BR apartments and commercial space on first floor plus 800 sqf fixed up basement
The building is in good condition it underwent major capital improvements in 2002. Improvements include: new boiler, water heater, electrical, plumbing, stairs, walls, windows and doors, new service and meters for all utilities (water, electric and gas), a finished basement. A skylight was added in 2004 and a new roof was added in 2006.
NEARBY
TRANSPORTATION
Subways
Lat Sutter Av 0.25 miles
3at Junius St 0.45 miles
Lat Atlantic Av 0.48 miles
3at Rockaway Av 0.49 miles
Lat Livonia Av 0.49 miles
Block/Lot: 3726/40
Lot Size: 20’ X 50’ 1,000 SF
Building Size 20’ X 40'
Stories: 3 plus finished basement
Gross Sq. Ft.: 3,000 (Approx) + 800 finished basement
Zoning: R6
Assessment $4,849
Taxes: $948
*Projected Income:
*(please verify with your own rental brokers, numbers I wrote are based on feedback I got from real estates owner on that block and few different rental brokers)
(1) Ground Floor (Store) $2000 monthly
(2) Apartment $2000 monthly
(3) Apartment $2000 monthly
Monthly total projected income $6,000
Yearly Total Projected Income $72,000
Estimated Expenses:
Real Estate Taxes (Actual) $ 948 WOW!
Insurance (Actual) $2,860
Water and Sewer $1,200
Fuel (Gas) $3,600
Electricity $650
Total Expenses $9,258
Projected Net Operating Income $62,742
Asking 720,000 GIVE YOUR BEST SERIOUS OFFER!
cap rate: 8.7
Lot
Lot sq. ft.1,000 ?Lot dimensions20 ft x 50 ftCorner lotNoBuildings on lot1
Floor Area Ratio (FAR)
Max far2.43 ?FAR as built3.2 ?Maximum usable floor area2,430Usable floor area3,200SF over FAR770
Max FAR depends on several factors including zoning, location and use. FAR values for this property are: Facility FAR 4.8, Commercial FAR 0 and Residential FAR 2.43
Building
Building classPrimarily Two Family with One Store or Office (S2) ?Sq. ft.3,200Building dimensions20 ft x 40 ftStories3Has garagen/aYear built1899 (estimated)Year last alteredn/a ?Certificate of OccupancyClick here ?
Use
Residential units2Commercial units1Residential sq. ft.1,600Retail sq. ft.800Other sq. ft.800
Zoning
District codeC1-3/R6
I.m ready to listen to a 689k NET offer