Located in prime Bushwick on the corner of Dekalb and Wilson Avenue, this mixed use building is currently arranged as 4 free market apartments, a ground floor retail store measuring approximately 1,400 SF and 4 garages built at the rear of the lot and facing Dekalb Avenue, which combine to make an attractive investment opportunity. The apartments are currently occupied on a month to month basis, with no leases in place. The retail space, which will be delivered vacant, has an advantageous corner position, 25 FT of window frontage facing Wilson Avenue and is an ideal location for a new restaurant, bar, cafe or grocery store. Positioned on an up and coming restaurant row, the store can comfortably fetch $4,000 per month. A fifth apartment was previously situated behind the store and could be reinstated to make 5 total apartments. The apartments are currently configured as two bedroom, railroad units, with potential to be converted to boxed, 2 or 3 bedroom apartments, which can garner between $2500-3000 monthly per unit.
The property is serviced by multiple lines of transportation, including the M,L and J/Z train lines and the B38 and B60 bus lines, which provide plenty of alternative transportation options during train shutdowns for repair work. Bushwick is one of the most rapidly burgeoning neighborhoods in New York City, with a considerable amount of the NYC new development pipeline being constructed throughout the neighborhood. Additionally, transportation upgrades are in the works for the neighborhood to accommodate future growth capacity. Please inquire for a detailed setup with the rent roll, expenses and projected income or to arrange a viewing.
