Rare Opportunity in Prime Bay Ridge, Brooklyn! This one-story, two-family mixed-use building is a must-have in your investment portfolio. All units are currently rented, generating a gross annual income of $134,400, with a 3% yearly increase. The storefront, approximately 2,000 square feet including the ground floor and basement, is currently operating as a liquor store. It comes with a fresh 10-year lease and a 5-year renewal option. The commercial tenant pays $350 quarterly for water and 50% of any annual property tax increases. The second and third floors each feature two-bedroom residential units, both occupied by reliable tenants who consistently pay rent on time. The building was gutted and fully renovated a few years ago at a significant cost to the owner. The net income is approximately $116,000 per year. Ideally located in the heart of Bay Ridge`s commercial district, just minutes from the I-278 as well as from the R train, this property offers convenience and strong investment potential. Rent roll and detailed expense information available upon request.
Details:
Families:
2
Property Type:
Mixed Use
Lot Size:
19Ã?101.75
Financials:
Price:
$2,380,000
RE/MAX Edge Rong Feng Li Office: (718)612-3088
provided by Brooklyn NY MLS
![[Bay Ridge Real Estate, listing number 3306946]](https://www.vlshomes.com/images/full/3306946a.jpg)