Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks licensed to Coldwell Banker Commercial Affiliates. Each Office is Independently Owned and Operated.
Coldwell Banker Reliable Commercial Division
Prepared by:
7428 Fifth Avenue, Brooklyn, NY 11209 Phone: (718)921-3100 Web: www.cbrcd.com
Bath Beach Mixed Use Building For Sale 1484 86 St, Brooklyn, NY 11228
Richard DiPietro Licensed R.E. Salesperson Office: 347-809-5192 Mobile: 347-693-2995 Email: [email protected]
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Table of Contents
Executive Summary____________________________________3
Property Details_______________________________________4
Financials____________________________________________5
Maps & Aerials________________________________________6
Traffic Count Report ___________________________________7
Demographic Market Comparison Report_______________8— 9
Demographic Summary Report__________________________10
Daytime Employment Report____________________________11
Consumer Spending Report_________________________12 —13
Contact Information___________________________________ 14
Confidentiality Statement______________________________ 15
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Executive Summary
Executive Summary
The Property
1484 86th Street, Brooklyn, NY 11228
Property Specifications Property Type:
Mixed Use
Building Size:
3,040 SF / 20ft x 76ft
Lot Size: 1,600 SF / 20ft x 80ft
Year Built : 1931
Number of Stories:
2
Zoning: C1-2 / R4
Commercial Units
1 / 1,520 SF
Residential Units
2 / 1,520 SF
For Sale Price
Sale Price: $2,100,000
Per SF Price: $691
The Offering:
Coldwell Banker Reliable Commercial Division is
pleased to offer 1484 86th Street for sale. A two
story three unit mixed use building located in the
Bath Beach section of Brooklyn, NY.
Investment Highlights:
Annual Projections: $96,000 Gross Revenue / $12,000 Expenses / $84,000 Net Income.
Two 2 bedroom apartments over one 1,520 SF commercial unit. Apartments leased for $1,600 and $1,400 monthly. Tenants pay all utilities, owner expenses include building insurance, water & sewer and real estate taxes.
Commercial space is currently vacant. Market rental rates approximately $35-40 per SF per year.
Commercial Unit includes 1,600 SF basement.
Excellent opportunity for owner/user.
Location Highlights:
Located on 86th Street, a major retail corridor.
Nearby amenities include restaurants, supermarkets, schools, medical facilities, religious facilities, day cares and Dyker Beach Park.
Neighboring national tenants include Walgreens, Outback Steak House, Auto Zone, Chase, Papa John’s and more.
Nearby public transportation includes: the D Train and B1, B64, X27, X28 & X38 Buses.
Close proximity to the Belt Parkway & BQE.
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Property Overview
Property Address
1484 86th Street, Brooklyn NY 11228
Property Details
Coldwell Banker Reliable Commercial Division is pleased to offer
1484 86th Street for sale. A two story three unit mixed use building
located in the Bath Beach section of Brooklyn, NY.
Investment Highlights:
Annual Projections: $96,000 Gross Revenue / $12,000 Expenses / $84,000 Net Income.
Two 2 bedroom apartments over one 1,520 SF commercial unit. Apartments leased for $1,600 and $1,400 monthly. Tenants pay all utilities, owner expenses include building insurance, water & sewer and real estate taxes.
Commercial space is currently vacant. Market rental rates approximately $35-40 per SF per year.
Commercial Unit includes 1,600 SF basement.
Excellent opportunity for owner/user.
For Sale Price
$2,100,000 $691 PSF
Property Specifications
Property Type: Mixed Use Building Size: 3,040 SF / 20ft x 76ft
Buildings on Lot 1 Stories 2 Zoning C1-2 / R4
Lot Size 1,600 SF / 20ft x 80ft Property Features
Commercial Units 1 Residential Units 2
Amenities Located on 86th Street, a major retail corridor
Location Information Cross Street: 15th Avenue
Metro Market: Brooklyn Submarket: Bath Beach
County: Kings
Property Details
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Assumptions to Financial Pro Forma The Financial Pro Forma depicts a ten (10) year cash flow projection. The projection is based upon actual rental rates with assumptions regarding the future occupancy of the building as well as current and future market conditions.
The following assumptions were used in developing the Financial Pro Forma for the Property: 2% annual expense increases 3% annual revenue increases
Financials
Projected Asking Price $2,100,000
Price Per SF $691
Net Income Multiple 25
Capitalization Rate 4.0%
Investment Overview
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Projected Income: Gross Revenue $96,000 $98,880 $101,846 $104,902 $108,049 $111,290 $114,629 $118,068 $121,610 $125,258
Projected Expenses:Building Insurance 2,500 2,550 2,601 2,653 2,706 2,760 2,815 2,872 2,929 2,988Real estate taxes 6,300 6,426 6,555 6,686 6,819 6,956 7,095 7,237 7,381 7,529Water / Sewer 3,200 3,264 3,329 3,396 3,464 3,533 3,604 3,676 3,749 3,824 Total expense 12,000 12,240 12,485 12,734 12,989 13,249 13,514 13,784 14,060 14,341
Projected Net Income $84,000 $86,640 $89,362 $92,167 $95,060 $98,041 $101,115 $104,284 $107,550 $110,917
1484 86 St, Brooklyn, NY 11228
Financial Projections For the 10 Years Ending 2026
3,040Commercial Rent (1,520 SF@ $39.50 Per SF Per Year) 60,000$ Residential Rent (2 Units / 1,520 SF @ $24 Per SF Per Year ) 36,000$
ProjectionsBuilding SF
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Maps & Aerials
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Market Overview
Traffic Count Report
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Demographic Market Comparison Report
Market Overview
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Market Overview
Demographic Market Comparison Report (Continued)
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Demographic Summary Report
Market Overview
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Market Overview
Daytime Employment Report
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Market Overview
Consumer Spending Report
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Market Overview
Consumer Spending Report (Continued)
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Contact Information
Contact Info For more information, please contact: Richard DiPietro, Licensed R.E. Salesperson 7428 5th Ave. Brooklyn, NY, 11209 Phone: 347-809-5192 Fax: 1-347-809-5192 Mobile: 347-693-2995 Email: [email protected] Coldwell Banker Reliable Commercial Division 7428 5th Ave Brooklyn, NY , 11209 Phone: 718-921-3100 Fax: 718-921-3110 Website: cbreliable.com
Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbreliable.com
Confidentiality Statement
Confidentiality Statement This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.