116 Avenue U, Brooklyn, NY 11223
6,000 SF building with tenant in place.
- Added:
- Apr 17, 2024
- Days on Market:
- 783
- Last Refresh:
- May 12 at 10:54 pm
Property Features for 116 Avenue U
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Office, Retail
Listing agent Joseph Devito License #New York
Listing office BHHS Fillmore R.E
Listing date Apr 17, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fillmore R.E
HighLights
- Prime Gravesend Avenue location.
- 6000 square foot building plus basement.
- Tenant in place with 7 years remaining on a triple net lease.
- Tenant pays 80% of property taxes.
- R5,C2‑3 zoning allows for future development opportunities.
- High traffic area near N train and city bus lines.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $466.6k | $77.76 |
| − Vacancy | −$55.5k | −$9.25 |
| EGI | $411.0k | $68.51 |
| − OpEx | −$123.3k | −$20.55 |
| NOI | $287.7k | $47.95 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.979752
- Latitude
- 40.596009
