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4222 Avenue D
Brooklyn, NY 11203
Allstate · Retail Property For Sale

Executive Summary

Welcome to this lucrative mixed-use property in East Flatbush, New York! This versatile property offers a total insurance cost of $3,600 annually and $1,800 for water annually. Tenants responsible for paying electric utilities, while water gas utilities are included. The 3-bedroom, 1-b unit is suitable for office or store use and rents for $2,400 per month with a very good tenant. In addition to the existing rental income there is a potential income of $10000 per month for the downstair office store front, making the total potential rental income $12400 per month. a current annual tax of $12,221, this property presents a promising investment opportunity. The property features a backyard for outdoor activities and relaxation, And it includes a shutter provide access to the basement. It also offers the possibility to rent out four units totaling 2000 square feet - one in the front and three in the back, providing additional income potential. With a calculated Net Operating Income (NOI) of $128,579 and a cap rate of approximately 12.86% based on a property value of $1,000,000, this property offers a solid return on investment and significant growth potential.

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,000 SF
Building Class
C
Year Built
1933
Price
$925,000
Price Per SF
$462.50
Cap Rate
6.43%
NOI
$59,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.15
Lot Size
0.04 AC
Zoning
R4 - Low density residential district
Parking
3 Spaces (1 Spaces per 1,000 SF Leased)

Amenities

  • Signage

Property Taxes

Property Taxes

Parcel Number
04976-0009
Land Assessment
$74,700
Improvements Assessment
$40,950
Total Assessment
$115,650
  • Listing ID: 31250582

  • Date on Market: 3/18/2024

  • Last Updated:

  • Address: 4222 Avenue D, Brooklyn, NY 11203

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