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$ 8,150,000
Est. payment | /mo
0.25 Acres Lot
$ 8,150,000
Est. payment | /mo
0.25 Acres Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Madison
MLS Listing ID 1024367
Rental Info No
Year Built 1925
Annual Tax Amount $136,669
Lot Size 0.252 Acres
Acres 0.2525
Property Sub-Type Multi Family
Source onekey2
Property Description
Calling All Investors, Developers, & End-Users!!! 6.02 Cap 100% Occupied 40 Unit Apartment Building On A Huge 11,000 Sqft. Lot In Brooklyn For Sale!!! The Property Features Excellent Signage, Great Exposure, R7A Zoning, High 9' Ceilings, 2 Skylights, 4 Stories, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Madison Just Off Kings Hwy. Near Kings Plaza & Minutes From The Belt Pkwy.!!! Neighbors Include T-Mobile, Target, ShopRite, CubeSmart Self Storage, Extra Space Storage, Staples, Petco, T.J. Maxx, CVS, Dunkin', Walgreens, Burlington, Michaels, CityMD, Meineke Car Care Center, Raising Cane's, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Apt A1: $15,270.72 Ann.; Lease Exp.: 11/30/27.
Apt. A2: $14,159.76 Ann.; Lease Exp.: 10/14/26.
Apt. A3: $18,852.72 Ann.; Lease Exp.: 8/31/27.
Apt. A4: $21,600 Ann. Super.
Apt. A5: $16,561.08 Ann.; Lease Exp.: 9/30/27.
Apt. A6: $15,529.56 Ann.; Lease Exp.: 5/31/28.
Apt. A7: $16,469.28 Ann.; Lease Exp.: 5/31/27.
Apt. A8: $17,205.96 Ann.; Lease Exp.: 12/31/27.
Apt. A9: $16,978.80 Ann.; Lease Exp.: 5/31/28.
Apt. A10: $16,15896 Ann.; Lease Exp.: 4/30/27.
Apt. B1: $25,200 Ann.; Lease Exp.: 3/31/27.
Apt. B2: $14,675.16 Ann.; Lease Exp.: 8/31/26.
Apt. B3: $15,154.92 Ann.; Lease Exp.: 6/30/27.
Apt. B4: $23,356.20 Ann.; Lease Exp.: 8/31/26.
Apt. B5: $16,860.84 Ann.; Lease Exp.: 7/31/27.
Apt. B6: $19,988.88 Ann.; Lease Exp.: 4/30/27.
Apt. B7: $15,993.72 Ann.; Lease Exp.: 5/31/27.
Apt. B8: $17,700 Ann.; Lease Exp.: 2/28/27.
Apt. B9: $12,975.48 Ann.; Lease Exp.: 3/31/27.
Apt. B10: $18,171.48 Ann.; Lease Exp.: 11/30/26.
Apt. C1: $24,291.96 Ann.; Lease Exp.: 5/31/28.
Apt. C2: $16,456.68 Ann.; Lease Exp.: 12/31/26.
Apt. C3: $17,556 Ann.; Lease Exp.: 12/31/27.
Apt. C4: $12,715.08 Ann.; Lease Exp.: 3/31/27.
Apt. C5: $18,776,04 Ann.; Lease Exp.: 11/30/27.
Apt. C6: $19,192.08 Ann.; Lease Exp.: 11/30/26.
Apt. C7: $19,200 Ann.; Lease Exp.: 4/30/28.
Apt. C8: $16,176.60 Ann.; Lease Exp.: 5/31/28.
Apt. C9: $19,662.48 Ann.; Lease Exp.: 5/31/28.
Apt. C10: $17,987.40 Ann.; Lease Exp.: 1/31/28.
Apt. D1: $22,354.08 Ann.; Lease Exp.: 3/31/27.
Apt. D2: $17,825.04 Ann.; Lease Exp.: 7/31/26.
Apt. D3: $18,112.68 Ann.; Lease Exp.: 12/31/26.
Apt. D4: $23,038.92 Ann.; Lease Exp.: 8/31/26.
Apt. D5: $17,734.68 Ann.; Lease Exp.: 8/31/26.
Apt. D6: $18,355.20 Ann.; Lease Exp.: 5/31/28.
Apt. D7: $16,810.44 Ann.; Lease Exp.: 12/31/26.
Apt. D8: $17,642.16 Ann.; Lease Exp.: 2/28/28.
Apt. D9: $16,823.64 Ann.; Lease Exp.: 5/31/28.
Apt. D10: $16,686 Ann.; Lease Exp.: 2/28/27.
Gross Income: $716,260.68 Ann.
Expenses:
Fuel: $43,031.92 Ann.
Electric: $2,861.80 Ann.
Water & Sewer: $33,764.48 Ann.
Insurance: $17,954.11 Ann.
Maintenance & Repairs: $19,964.95 Ann.
Taxes: $107,930.10 Ann.
Total Expenses: $225,507.36 Ann.
Net Operating Income (NOI): $490,753.32 Ann. (6.02% Cap!!!)
Income:
Apt A1: $15,270.72 Ann.; Lease Exp.: 11/30/27.
Apt. A2: $14,159.76 Ann.; Lease Exp.: 10/14/26.
Apt. A3: $18,852.72 Ann.; Lease Exp.: 8/31/27.
Apt. A4: $21,600 Ann. Super.
Apt. A5: $16,561.08 Ann.; Lease Exp.: 9/30/27.
Apt. A6: $15,529.56 Ann.; Lease Exp.: 5/31/28.
Apt. A7: $16,469.28 Ann.; Lease Exp.: 5/31/27.
Apt. A8: $17,205.96 Ann.; Lease Exp.: 12/31/27.
Apt. A9: $16,978.80 Ann.; Lease Exp.: 5/31/28.
Apt. A10: $16,15896 Ann.; Lease Exp.: 4/30/27.
Apt. B1: $25,200 Ann.; Lease Exp.: 3/31/27.
Apt. B2: $14,675.16 Ann.; Lease Exp.: 8/31/26.
Apt. B3: $15,154.92 Ann.; Lease Exp.: 6/30/27.
Apt. B4: $23,356.20 Ann.; Lease Exp.: 8/31/26.
Apt. B5: $16,860.84 Ann.; Lease Exp.: 7/31/27.
Apt. B6: $19,988.88 Ann.; Lease Exp.: 4/30/27.
Apt. B7: $15,993.72 Ann.; Lease Exp.: 5/31/27.
Apt. B8: $17,700 Ann.; Lease Exp.: 2/28/27.
Apt. B9: $12,975.48 Ann.; Lease Exp.: 3/31/27.
Apt. B10: $18,171.48 Ann.; Lease Exp.: 11/30/26.
Apt. C1: $24,291.96 Ann.; Lease Exp.: 5/31/28.
Apt. C2: $16,456.68 Ann.; Lease Exp.: 12/31/26.
Apt. C3: $17,556 Ann.; Lease Exp.: 12/31/27.
Apt. C4: $12,715.08 Ann.; Lease Exp.: 3/31/27.
Apt. C5: $18,776,04 Ann.; Lease Exp.: 11/30/27.
Apt. C6: $19,192.08 Ann.; Lease Exp.: 11/30/26.
Apt. C7: $19,200 Ann.; Lease Exp.: 4/30/28.
Apt. C8: $16,176.60 Ann.; Lease Exp.: 5/31/28.
Apt. C9: $19,662.48 Ann.; Lease Exp.: 5/31/28.
Apt. C10: $17,987.40 Ann.; Lease Exp.: 1/31/28.
Apt. D1: $22,354.08 Ann.; Lease Exp.: 3/31/27.
Apt. D2: $17,825.04 Ann.; Lease Exp.: 7/31/26.
Apt. D3: $18,112.68 Ann.; Lease Exp.: 12/31/26.
Apt. D4: $23,038.92 Ann.; Lease Exp.: 8/31/26.
Apt. D5: $17,734.68 Ann.; Lease Exp.: 8/31/26.
Apt. D6: $18,355.20 Ann.; Lease Exp.: 5/31/28.
Apt. D7: $16,810.44 Ann.; Lease Exp.: 12/31/26.
Apt. D8: $17,642.16 Ann.; Lease Exp.: 2/28/28.
Apt. D9: $16,823.64 Ann.; Lease Exp.: 5/31/28.
Apt. D10: $16,686 Ann.; Lease Exp.: 2/28/27.
Gross Income: $716,260.68 Ann.
Expenses:
Fuel: $43,031.92 Ann.
Electric: $2,861.80 Ann.
Water & Sewer: $33,764.48 Ann.
Insurance: $17,954.11 Ann.
Maintenance & Repairs: $19,964.95 Ann.
Taxes: $107,930.10 Ann.
Total Expenses: $225,507.36 Ann.
Net Operating Income (NOI): $490,753.32 Ann. (6.02% Cap!!!)
Location
State NY
County Kings (brooklyn)
Interior
Heating Oil
Cooling None
Fireplace No
Exterior
Parking Features On Street
Utilities Available Electricity Connected, See Remarks
Building
Sewer Public Sewer
Water Public
Structure Type Brick,Frame
Schools
High Schools Contact Agent
School District Contact Agent
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • Richard Matt Shane
NEARBY SCHOOL & BUSINESS
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