1484 86 St, Brooklyn, NY 11228 Offering Memofiles.constantcontact.com/8c785264101/71ef9417-3d... · Metro Market: Brooklyn Submarket: Bath Beach County: Kings ... Demographic Market

Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks licensed to Coldwell Banker Commercial Affiliates. Each Office is Independently Owned and Operated.

Coldwell Banker Reliable Commercial Division

Prepared by:

7428 Fifth Avenue, Brooklyn, NY 11209 Phone: (718)921-3100 Web: www.cbrcd.com

Bath Beach Mixed Use Building For Sale 1484 86 St, Brooklyn, NY 11228

Richard DiPietro Licensed R.E. Salesperson Office: 347-809-5192 Mobile: 347-693-2995 Email: [email protected]

Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com

Table of Contents

Executive Summary____________________________________3

Property Details_______________________________________4

Financials____________________________________________5

Maps & Aerials________________________________________6

Traffic Count Report ___________________________________7

Demographic Market Comparison Report_______________8— 9

Demographic Summary Report__________________________10

Daytime Employment Report____________________________11

Consumer Spending Report_________________________12 —13

Contact Information___________________________________ 14

Confidentiality Statement______________________________ 15


Executive Summary

Executive Summary

The Property

1484 86th Street, Brooklyn, NY 11228

Property Specifications Property Type:

Mixed Use

Building Size:

3,040 SF / 20ft x 76ft

Lot Size: 1,600 SF / 20ft x 80ft

Year Built : 1931

Number of Stories:

2

Zoning: C1-2 / R4

Commercial Units

1 / 1,520 SF

Residential Units

2 / 1,520 SF

For Sale Price

Sale Price: $2,100,000

Per SF Price: $691

The Offering:

Coldwell Banker Reliable Commercial Division is

pleased to offer 1484 86th Street for sale. A two

story three unit mixed use building located in the

Bath Beach section of Brooklyn, NY.

Investment Highlights:

Annual Projections: $96,000 Gross Revenue / $12,000 Expenses / $84,000 Net Income.

Two 2 bedroom apartments over one 1,520 SF commercial unit. Apartments leased for $1,600 and $1,400 monthly. Tenants pay all utilities, owner expenses include building insurance, water & sewer and real estate taxes.

Commercial space is currently vacant. Market rental rates approximately $35-40 per SF per year.

Commercial Unit includes 1,600 SF basement.

Excellent opportunity for owner/user.

Location Highlights:

Located on 86th Street, a major retail corridor.

Nearby amenities include restaurants, supermarkets, schools, medical facilities, religious facilities, day cares and Dyker Beach Park.

Neighboring national tenants include Walgreens, Outback Steak House, Auto Zone, Chase, Papa John’s and more.

Nearby public transportation includes: the D Train and B1, B64, X27, X28 & X38 Buses.

Close proximity to the Belt Parkway & BQE.


Property Overview

Property Address

1484 86th Street, Brooklyn NY 11228

Property Details

Coldwell Banker Reliable Commercial Division is pleased to offer

1484 86th Street for sale. A two story three unit mixed use building

located in the Bath Beach section of Brooklyn, NY.

Investment Highlights:

Annual Projections: $96,000 Gross Revenue / $12,000 Expenses / $84,000 Net Income.

Two 2 bedroom apartments over one 1,520 SF commercial unit. Apartments leased for $1,600 and $1,400 monthly. Tenants pay all utilities, owner expenses include building insurance, water & sewer and real estate taxes.

Commercial space is currently vacant. Market rental rates approximately $35-40 per SF per year.

Commercial Unit includes 1,600 SF basement.

Excellent opportunity for owner/user.

For Sale Price

$2,100,000 $691 PSF

Property Specifications

Property Type: Mixed Use Building Size: 3,040 SF / 20ft x 76ft

Buildings on Lot 1 Stories 2 Zoning C1-2 / R4

Lot Size 1,600 SF / 20ft x 80ft Property Features

Commercial Units 1 Residential Units 2

Amenities Located on 86th Street, a major retail corridor

Location Information Cross Street: 15th Avenue

Metro Market: Brooklyn Submarket: Bath Beach

County: Kings

Property Details


Assumptions to Financial Pro Forma The Financial Pro Forma depicts a ten (10) year cash flow projection. The projection is based upon actual rental rates with assumptions regarding the future occupancy of the building as well as current and future market conditions.

The following assumptions were used in developing the Financial Pro Forma for the Property: 2% annual expense increases 3% annual revenue increases

Financials

Projected Asking Price $2,100,000

Price Per SF $691

Net Income Multiple 25

Capitalization Rate 4.0%

Investment Overview

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Projected Income: Gross Revenue $96,000 $98,880 $101,846 $104,902 $108,049 $111,290 $114,629 $118,068 $121,610 $125,258

Projected Expenses:Building Insurance 2,500 2,550 2,601 2,653 2,706 2,760 2,815 2,872 2,929 2,988Real estate taxes 6,300 6,426 6,555 6,686 6,819 6,956 7,095 7,237 7,381 7,529Water / Sewer 3,200 3,264 3,329 3,396 3,464 3,533 3,604 3,676 3,749 3,824 Total expense 12,000 12,240 12,485 12,734 12,989 13,249 13,514 13,784 14,060 14,341

Projected Net Income $84,000 $86,640 $89,362 $92,167 $95,060 $98,041 $101,115 $104,284 $107,550 $110,917

1484 86 St, Brooklyn, NY 11228

Financial Projections For the 10 Years Ending 2026

3,040Commercial Rent (1,520 SF@ $39.50 Per SF Per Year) 60,000$ Residential Rent (2 Units / 1,520 SF @ $24 Per SF Per Year ) 36,000$

ProjectionsBuilding SF


Maps & Aerials


Market Overview

Traffic Count Report


Demographic Market Comparison Report

Market Overview


Market Overview

Demographic Market Comparison Report (Continued)


Demographic Summary Report

Market Overview


Market Overview

Daytime Employment Report


Market Overview

Consumer Spending Report


Market Overview

Consumer Spending Report (Continued)


Contact Information

Contact Info For more information, please contact: Richard DiPietro, Licensed R.E. Salesperson 7428 5th Ave. Brooklyn, NY, 11209 Phone: 347-809-5192 Fax: 1-347-809-5192 Mobile: 347-693-2995 Email: [email protected] Coldwell Banker Reliable Commercial Division 7428 5th Ave Brooklyn, NY , 11209 Phone: 718-921-3100 Fax: 718-921-3110 Website: cbreliable.com


Confidentiality Statement

Confidentiality Statement This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

Documents

1484 86 St, Brooklyn, NY 11228 Offering Memofiles.constantcontact.com/8c785264101/71ef9417-3d... · Metro Market: Brooklyn Submarket: Bath Beach County: Kings ... Demographic Market