268 Bay Ridge Ave Brooklyn, NY 11220
New construction retail and community facility spaces with parking.
Lot size:
0.21 AcresProperty Features for 268 Bay Ridge Ave
General Information
- Property type
- Commercial
- Standard status
- Active
- Lot size
- 0.21 Acres
Building Details
- Year built
- 2015
Source:
Elliman
Listing Agent: Jian Yang Carey
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Bay Ridge Investment Opportunity
This offering presents an investment opportunity in Bay Ridge, featuring new construction units including two commercial stores, one community facility, and ten indoor parking spots, available as a package deal. Store #S1, spanning 2,970 square feet, is currently leased to a Tae Kwon Do school, generating a monthly income of $5,227, with common charges of $959.68 and property taxes of $7,347.44 annually. Store #S2, a 2,292-square-foot bakery, pays $3,500 monthly with a 3% yearly increase, along with common charges of $751 and annual property taxes of $5,761. The community facility, #CF, is 1,200 square feet and is rented as storage, yielding $2,060 monthly, with common charges of $289 and annual property taxes of $771. All three stores operate under triple net leases. The ten indoor parking spots generate $3,360 annually, with common charges of $743 per year and a property insurance premium of $3,050. The seller's total yearly expenses are $4,103. The building generates a net yearly income of $164,291, reflecting a 5.3% cap rate. The seller is open to owner's financing with a minimum 35% down payment.
Location Intelligence
Current Use by Public Records
Glory Martial Arts ...
Training Center
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.026448
- Latitude
- 40.635806
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - New construction retail and community facility spaces with parking.
Where is this retail space located?
The property is located at 268 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: - High Net Yearly Income: Generates $164,291 in net yearly income, offering a 5.3% cap rate.; - Package Deal: Includes two commercial stores, one community facility, and ten indoor parking spots.; - Triple Net Leases: Stores #S1, #S2, and #CF operate under triple net leases, minimizing landlord responsibilities.
