335 2Nd St, Brooklyn, NY 11211
20 Unit Apartment Building | $5,000,000 ($250,000/Unit) | 8.13% Cap Rate | Brooklyn, NY 11211
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,000,000
- Property Type
-
Multifamily
- Square Feet
- 20,700 SF
Listing Contacts
Matthew Shane
Verified Profile
- Property Info
Property Overview
Calling All Investors, Developers & End-Users!!! 8.13 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!! The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R6/C2-3 Zoning, Signalized Intersection, (4) 3 Br. Apts., (8) 2 Br. Apts., (8) 1 Br., Full Basement, All New LED Lighting, 200 Amp, Power, CAC, +++!!! The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!! Neighbors Include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin’, Liberty Tax, Meineke Car Care Center, Trader Joe’s, McDonald’s, IHOP, +++!!! The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!! This Property Offers HUGE Upside Potential!!! This Could Make A Great Addition To Your Investment Portfolio Or Be The Next Home For Your Business!!!
Income:
Black Flamingo (Bar): $120,000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Diaz Food Center (Grocery Store): $40,200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
El Gran Canario (Restaurant): $69,600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Juice Bar & Lounge: $39,000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Beauty Salon: $21,600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Unit 2A: $16,500 Ann.
Unit 2B: $24,000 Ann.
Unit 2C: $22,200 Ann.
Unit 2D: $11,544 Ann.
Unit 2E: $10,152 Ann.
Unit 3A: $ 11,724 Ann.
Unit 3B: $18,444 Ann.
Unit 3C: $12,624 Ann.
Unit 3D: $17,880 Ann.
Unit 3E: $11,136 Ann.
Unit 4A: $9,240 Ann.
Unit 4B: $10,920 Ann.
Unit 4C: $18,444 Ann.
Unit 4D: $18,792 Ann.
Unit 4E: $9,816 Ann.
Unit 5A: $8,364 Ann.
Unit 5B: $21,000 Ann.
Unit 5C: $8,016 Ann.
Unit 5D: $15,240 Ann.
Unit 5E: $9,204 Ann.
Tax Rebate (Paid By The Stores): $40,636 Ann.
Water Rebate (Paid By The Stores): $10,392 Ann.
Expenses:
Oil: $34,987 Ann.
Electric: $3,142 Ann. (Common Area Only)
Maintenance & Repairs: $5,000 Ann.
Property Super: $5,000 Ann.
Insurance: $17,680 Ann.
Water: $31,442 Ann.
Taxes: $123,140 Ann.
Total Expenses: $220,391 Ann.
Current Gross Income: $626,668 Ann.
Net Operating Income (NOI): $406,277 Ann. (8.13 Cap!!!)
Income:
Black Flamingo (Bar): $120,000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Diaz Food Center (Grocery Store): $40,200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
El Gran Canario (Restaurant): $69,600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Juice Bar & Lounge: $39,000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Beauty Salon: $21,600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Unit 2A: $16,500 Ann.
Unit 2B: $24,000 Ann.
Unit 2C: $22,200 Ann.
Unit 2D: $11,544 Ann.
Unit 2E: $10,152 Ann.
Unit 3A: $ 11,724 Ann.
Unit 3B: $18,444 Ann.
Unit 3C: $12,624 Ann.
Unit 3D: $17,880 Ann.
Unit 3E: $11,136 Ann.
Unit 4A: $9,240 Ann.
Unit 4B: $10,920 Ann.
Unit 4C: $18,444 Ann.
Unit 4D: $18,792 Ann.
Unit 4E: $9,816 Ann.
Unit 5A: $8,364 Ann.
Unit 5B: $21,000 Ann.
Unit 5C: $8,016 Ann.
Unit 5D: $15,240 Ann.
Unit 5E: $9,204 Ann.
Tax Rebate (Paid By The Stores): $40,636 Ann.
Water Rebate (Paid By The Stores): $10,392 Ann.
Expenses:
Oil: $34,987 Ann.
Electric: $3,142 Ann. (Common Area Only)
Maintenance & Repairs: $5,000 Ann.
Property Super: $5,000 Ann.
Insurance: $17,680 Ann.
Water: $31,442 Ann.
Taxes: $123,140 Ann.
Total Expenses: $220,391 Ann.
Current Gross Income: $626,668 Ann.
Net Operating Income (NOI): $406,277 Ann. (8.13 Cap!!!)
Property Details
- Class
- C
- Year Built
- 1926
- Stories
- 5
- Property Subtype
- Storefront Retail/Residential, Office/Residential
- Lot Size (sq. ft)
- 4,356 SF
- Units
- 20
Highlights
- Calling All Investors, Developers & End-Users!!! 8.13 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!!
- The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R6/C2-3 Zoning, +++!!!
- The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!!
- The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!!
- Neighbors Include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, +++!!!
- This Property Offers HUGE Upside Potential!!!
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