Portfolio of 2 Properties for Sale Offered at $4,500,000 in Brooklyn, NY

2 Buildings for sale [9404 and 9406 Fourth ave]
Exceptional Investment Opportunity in Prime Bayridge Location
A Rare and unmatched investment opportunity in Bayridge, steps from the R train on 4th Ave.
An outstanding 7.6% cap rate including a restaurant generating a gross annual income in excess of $2 million.
Residential:
- The 2 buildings generate net annual gross income of $345,000 ($145,000 from the rental units and $240,000 from the restaurant space).
- Comprising of 6 free-market rental units (fully occupied with month-to-month leases) and a fully operational restaurant.
- Every apartment is individually metered for electric, the Penthouses have their own boiler, heat and washer/dryer.
- 2 leases end October '25 for 9406; rest on a month-to-month basis.
Commercial space:
Steak & Ale House
- This profitable restaurant generates over $2 million in gross annual revenue.
- 110-seat dining area, 20-seat bar, 50-seat banquet room.
- 4059 sf above grade; 4059 sf below grade. Fully vented with liquor license.
- Below grade space has 5 walk-in refrigerators, prep area, ovens, receiving area, storage- Liquor + dry + wet goods etc; 6'-8'ft ceiling height.
- Open for lunch and dinner, 6 days a week, liquor license and banquet facility.
- High Potential to add breakfast and brunch services, take-out options, increase dining hours, increase banqueting services and open 7 days a week.
- Prospective investor can rent the restaurant for $20,000- $25,000 month $46/sf+ $8/sf below grade NNN.
- Presently operated by the owners, the fully operational business can also be bought out. Inquire for pricing.
Key Features:
Lot Dimensions: bldg 9404: 19.5 ft x 96.5 ft ; bldg 9406: 19.5 ft x 107.58 ft
Building Dimensions: bldg 9404: 19.5 ft x 63 ft ; bldg 9406: 19.5 ft x 63 ft
Total square footage as built: 8,987 sq ft Available Air Rights: 3,190 sq ft.
Total Apartments: 6 (3 per building; All Free Market)
Commercial Units: 1 (Fully operational restaurant)
Zoning: R6A, C2-3, BR
Stories: 3
Current Layouts of combined lots:
3rd Level: Conv 4BR/2BA + mud room + Washer dryer; 3BR/2BA+ washer dryer. Both with skylights.
2nd Level: 4 four 1BR/1BA apartments.
1st Level: Fully operational restuarant with liquor license and banquet facilities.
Basement: Equipped with prep areas, walk in cold storage, and office space.
Roof Access: Yes.
Tax Information:
Total Taxes: $30,472.60 annually.
Please email for pro forma. rg@bhsusa.com.