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128 India St 3,880 SF 100% Leased Retail Building Brooklyn, NY 11222 $3,650,000 ($940.72/SF) 5.97% Cap Rate
Investment Highlights
- Mixed-Use Property in Prime Greenpoint
- The property offers three apartments and one commercial space
- The property is gut-renovated with stainless steel appliances
- The subject property is located in a highly desirable location between Manhattan Avenue and Franklin Street
- There is no exposure to rent stabilization laws and is a fully free market building
- The expenses are to remain under control with a protected tax class (8/30 rule) and pass-through utilities
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 128 India Street. The subject property is located in a highly desirable location between Manhattan Avenue and Franklin Street in Greenpoint, Brooklyn.
The property offers three apartments and one commercial space. There is no exposure to rent stabilization laws and is a fully free market building. The property is gut-renovated with stainless steel appliances. 128 India Street is built 22 ft x 30 ft, offering approximately 3,880 square feet and sits on a 25 ft x 66.75 ft lot.
The expenses are to remain under control with a protected tax class (8/30 rule) and pass-through utilities. 128 India Street has an in-place income well positioned to continue to grow.
The property is located situated off Manhattan Avenue directly adjacent to the G Train.
The property offers three apartments and one commercial space. There is no exposure to rent stabilization laws and is a fully free market building. The property is gut-renovated with stainless steel appliances. 128 India Street is built 22 ft x 30 ft, offering approximately 3,880 square feet and sits on a 25 ft x 66.75 ft lot.
The expenses are to remain under control with a protected tax class (8/30 rule) and pass-through utilities. 128 India Street has an in-place income well positioned to continue to grow.
The property is located situated off Manhattan Avenue directly adjacent to the G Train.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,880 SF
Building Class
C
Year Built/Renovated
1931/2017
Price
$3,650,000
Price Per SF
$940.72
Cap Rate
5.97%
NOI
$217,881
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.33
Lot Size
0.04 AC
Zoning
R7A / C2-4; Partial R6B - This is a C2-4 Zone
Frontage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Flame & Leaf
- Retailer
- -
- $50.53
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Flame & Leaf | Retailer | - | $50.53 | - |
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02540-0037 | Improvements Assessment | $685,800 |
| Land Assessment | $90,000 | Total Assessment | $775,800 |
Property Taxes
Parcel Number
02540-0037
Land Assessment
$90,000
Improvements Assessment
$685,800
Total Assessment
$775,800
Contacts
-
Donal Flaherty -
Derek Bestreich -
Luke Sproviero -
Corey Haynes -
Thomas Ventura -
Sal Monteverde -
Investment Property Realty Group
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128 India St
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