MIXED-USE BUILDING
FOR SALE - $2,500,000 3070 BRIGHTON 1ST , BROOKLYN, NY 11235
BRIGHTON BEACH INVESTMENT PROPERTY
PRESENTED BY
Joseph T. Hamdan
Amy Koh
Alexander Korotkiy
NYS Licensed R.E. Broker
NYS Licensed Associate RE. Broker
NYS Licensed Associate R.E. Broker
718.921.3100
www.cbrcd.com
CONFIDENTIAL OFFERING MEMORANDUM
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EXECUTIVE SUMMARY
OFFERING SUMMARY
PROPERTY OVERVIEW
Year Built:
2006
Proudly presenting a great investment opportunity in the heart of Brighton Beach, Brooklyn. The property consists of 3 residential units and 1 commercial unit. The building was built in 2006 and is Tax Abated until 2025 for the residential units with an additional tax abatement until 2034 for the commercial units. The commercial unit is 2,000 sq. ft. and collecting $79,800 annually. Each residential unit is approximately 900 sq. ft. with an annual rent roll of $64,920. There is also an additional opportunity to rent the basement/storage space out for approximately $2,000/month with space for a billboard on the side of the building.
Building Size:
5,221
LOCATION OVERVIEW
Sale Price: Cap Rate:
$2,500,000 4.81%
NOI:
$120,170
Lot Size:
0.0 Acres
Zoning:
R6, C1-2
Market:
Brooklyn
Submarket: Price / SF:
Brighton Beach $478.84
Brighton Beach is an oceanside neighborhood in the southern portion of the New York City borough of Brooklyn, along the Coney Island peninsula. According to the 2010 United States Census report, the Brighton Beach and Coney Island area, combined, had more than 110,000 residents. Brighton Beach is bounded by Coney Island proper at Ocean Parkway to the west, Manhattan Beach at Corbin Place to the east, Sheepshead Bay at the Belt Parkway to the north, and the Atlantic Ocean to the south along the beach and boardwalk.
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PROPERTY DESCRIPTION PROPERTY OVERVIEW Proudly presenting a great investment opportunity in the heart of Brighton Beach, Brooklyn. The property consists of 3 residential units and 1 commercial unit. The building was built in 2006 and is Tax Abated until 2025 for the residential units with an additional tax abatement until 2034 for the commercial units. The commercial unit is 2,000 sq. ft. and collecting $79,800 annually. Each residential unit is approximately 900 sq. ft. with an annual rent roll of $64,920. There is also an additional opportunity to rent the basement/storage space out for approximately $2,000/month with space for a billboard on the side of the building.
LOCATION OVERVIEW Brighton Beach is an oceanside neighborhood in the southern portion of the New York City borough of Brooklyn, along the Coney Island peninsula. According to the 2010 United States Census report, the Brighton Beach and Coney Island area, combined, had more than 110,000 residents. Brighton Beach is bounded by Coney Island proper at Ocean Parkway to the west, Manhattan Beach at Corbin Place to the east, Sheepshead Bay at the Belt Parkway to the north, and the Atlantic Ocean to the south along the beach and boardwalk.
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INCOME & EXPENSES INCOME SUMMARY Gross Income EXPENSE SUMMARY Insurance Utilities Water & Common Area Electric Gross Expenses Net Operating Income
BRIGHTON BEACH INVESTMENT PROPERTY FOR SALE - $2,500,000
PER SF
$144,720
$27.72
BRIGHTON BEACH INVESTMENT PROPERTY FOR SALE - $2,500,000
PER SF
$12,500
$2.39
$7,250
$1.39
$19,750
$3.78
$120,170
$23.02
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FINANCIAL SUMMARY INVESTMENT OVERVIEW Price Price per SF CAP Rate Cash-on-Cash Return (yr 1) Total Return (yr 1) Debt Coverage Ratio OPERATING DATA Gross Scheduled Income Other Income Total Scheduled Income Vacancy Cost Gross Income Operating Expenses
BRIGHTON BEACH INVESTMENT PROPERTY FOR SALE - $2,500,000 $2,500,000 $478.84 4.8% 4.81 % $120,170 BRIGHTON BEACH INVESTMENT PROPERTY FOR SALE - $2,500,000 $144,720 $0 $144,720 $0 $144,720 $19,750
Net Operating Income
$120,170
Pre-Tax Cash Flow
$120,170
FINANCING DATA Down Payment
BRIGHTON BEACH INVESTMENT PROPERTY FOR SALE - $2,500,000 $2,500,000
Loan Amount
-
Debt Service
-
Debt Service Monthly
-
Principal Reduction (yr 1)
-
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RENT ROLL TENANT
UNIT
UNIT
ANNUAL
NAME
NUMBER
SIZE (SF)
RENT
Retail
1
2,000
$79,800
2 Bedroom Apt.
2
1,000
$22,200
2 Bedroom Apt.
3
1,000
$21,420
1 Bedroom Apt.
4
900
$21,300
4,900
$144,720
Totals/Averages UNIT TYPE
Totals/Averages
COUNT
% TOTAL
SIZE (SF)
$/SF/YR
ANNUAL RENT
4
100.0
1,225
$29.53
$36,180
4
100%
4,900
$29.53
$144,720
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UNIT MIX SUMMARY UNIT TYPE
Totals/Averages
COUNT
% TOTAL
SIZE (SF)
$/SF/YR
ANNUAL RENT
4
100.0
1,225
$29.53
$36,180
4
100%
4,900
$29.53
$144,720
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DEMOGRAPHICS MAP & REPORT
POPULATION
0.25 MILES
0.5 MILES
1 MILE
10,552
31,460
75,872
Median age
48.8
50.4
49.9
Median age (Male)
43.3
45.9
46.6
Median age (Female)
52.8
53.5
52.2
0.25 MILES
0.5 MILES
1 MILE
5,022
14,876
35,285
# of persons per HH
2.1
2.1
2.2
Average HH income
$45,952
$47,026
$50,696
Average house value
$586,063
$446,997
$469,734
Total population
HOUSEHOLDS & INCOME Total households
* Demographic data derived from 2010 US Census
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ADDITIONAL PHOTOS
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FLOOR PLANS
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LOCATION MAPS
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REGIONAL MAP
Brighton Beach Investment Property - For Sale
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AERIAL MAPS
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