1245 Fulton St, Brooklyn, NY 11216
16,073 SF Brooklyn building with tax abatement.
- Added:
- Jun 7, 2023
- Days on Market:
- 1126
- Last Refresh:
- Jun 25 at 9:45 pm
Property Features for 1245 Fulton St
General Information
- Standard status
- Active
- Size
- 16,073 SF
- Property subtype
- Retail
Listing office East Coast Realtors (718) 428-2900
Listing date Jun 7, 2023
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 East Coast Realtors
HighLights
- 25‑year tax abatement offering inflation protection for 10% of the building.
- 15‑year tax abatement offering inflation protection for 90% of the building.
- Building size is approximately 16,073 SF.
- Ground floor area is 7,860 SF.
- Lower level area is 8,213 SF.
- Tax abatement provides significant financial benefits.
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 | $1.25M | $77.76 |
| − Vacancy | −$148.7k | −$9.25 |
| EGI | $1.10M | $68.51 |
| − OpEx | −$330.3k | −$20.55 |
| NOI | $770.8k | $47.95 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.952256
- Latitude
- 40.680738
