243 Avenue U

Description

Prime Brooklyn location ,Corner Avenue U & West 4th Street.
DRASTIC PRICE REDUCTION FROM $6 MILLION TO $5,500,000. CAP RATE 4.63 %.
Certificate Of Occupancy Commercial Ground store ,basement accessory uses storage approximately 8000 sq.ft. and 2nd story offices. Height in feet 25 feet. Total 15,880 building square feet. Lot area 7940 irregular. Building width 82 feet by 97 feet depth . First time on the Market.
The building is in excellent condition. A NEW C TOWN HAS COME IN WITH LEASE UNTIL 2037 . Supermarket paying $ 20,000. per month +heat,water and tenant pays any additional tax above $97,500. Base Real Estate taxes owner responsible for. Twenty year lease beginning May 1,2017 Through April 30, 2037. Every five years a 5% increase.
The 2nd floor Offices tenant is the MTA and paying $ 10,219.58 . per month plus utilities. Lease until March 31,2020. MTA has option to renew. APPROXIMATE 7960 SQ.FT.

Second floor Perfect location for any type of very large Business , Corporation, franchises, Real Estate management , mortgage company, medical offices, insurance companies, , health fitness centers and many other uses . Annual Gross Income $360,000+.
The owner pays Real estate taxes $97,500. + Insurance $ 9,119. Net Operating Income $253,383. Mass transportation N Train 3 short blocks & the McDonald Avenue F Train 2 short blocks away. Easy access to the Belt Parkway and Ocean Parkway to the City.
Excellent property for investment. . Subject to errors and omissions.

Essentials

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