Canarsie Corner Brooklyn Mixed Use

Listing ID: 84
Last Updated: 04 10, 2017
Property Type(s): Garden/Low-Rise
Property Use Type: Investment
Contact : Andrew Lichtenstein,
President
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999
Email: AL@LichtensteinRE.com

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Contact


Andrew Lichtenstein,
President
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999
Email: AL@LichtensteinRE.com

Price
 
Asking Price: $ 1,000,000Opinion of Value: $ 1,200,000
Down Payment: $ 350,000Year Built: 1920
 
Property Size
 
Existing Built Square Footage: 2,390 Sq.FtLand Plot Lot Size: 0 Acres
Lot Frontage: 24Lot Depth: 92
Number of Units: 3Percent Occupied: 100 %
Investment Type:  

Attachments

1-Lichtenstein- Canarsie Corner Mixed Use Investment.pdf

Property Details

Property Description :

Property Is A 2 Story, Three Unit Mixed Use Building Located In The Canarsie Neighborhood Of Brooklyn. The Property Consists Of Two Residential Apartments Totaling 1,445 Square Feet, A 945 Square Foot Commercial Unit Plus 1 Parking Space.

Property Location :

Canarsie, Brooklyn

Highlights :

Close to the Famous Canarsie Pier.
Enjoy a day of Fishing, Kite Flying and Family Picnics at the Pier.
Easy Access to L Train, MTA B6, 17, 42, 60, 82, 103 and BM2 Buses.
Quiet Neighborhood with Safe Bikable Terrains.
Around the corner from Rockaway Parkway for Easy Shopping.

Property Financials

  Annual IncomeAnalytical Calculations
Scheduled Gross Income, Annually:$ 78,750Gross Rent Multiplier:
Less Vacancy & Collection Loss Assumption:$ 0Capitalization Rate: %
Reimbursement:$ Cash on Cash Return: %
Other Income:0 
a. Effective Gross Income, Annualy: $ 78,760 
  Annual ExpensesAnalytical Calculations
Management: Self Managed$ 0Expenses per unit:$ 7,063
Maintenance:$ 1,650Expenses per square foot:$ 8.87
Taxes:$ 7,453Price per unit:$ 333,333
Insurance:$ 1,500Price per square foot (building):$ 418
Heating:$ 1,793Price per area of land plot:$ 0
a. Total Annual Expenses: $ 21,190 
Annual Net Financials
c. Net Operating Income, Annually$ 57,570
d. Annual Debt Service:$ 0
e. Other Annual Capital Costs:$ 0
Pre Tax Cash Flow, Annually$ 0

Financing Information

This Loan is Proposed
Principal:$ 650,000
Interest Rate:3.75 %
Loan Amortization:30 Years
Loan Term:10 Years
Annual Debt Service:$ 35,123
Description:3.75% FIXED FOR 5+5 YEARS WITH 30 YEAR AMORTIZATION SCHEDULE. For qualified Applicant and subject to change until rate locked

Tenant Information

Tenant NameLease End (i.e. mm/dd/yyyy)square feet
Retail08/31/2025
Lease and Escalation:
5% Annual increase, Tenant Pays 70% of Water and Sewer

Property Attachments

Attachment
(click to open / enlarge)

Disclaimer

The statements, figures and information herein or provided at any time have been received from sources we believe to be authoritative, but no warranty, guarantee or representation is made as to the accuracy or completeness. Subject to errors, omissions, change of conditions, price, terms, rate, prior rental, sale, lease, financing, prior placement, withdrawal, cancellation or modification without notice. The information, including financial analysis does not constitute a representation, warranty, or guaranty of any or the numbers or information set forth herein or of any economic value attributable to the subject investment. Independent estimates of financial or economic attributes should be developed with due diligence of counsel and independent professionals before any decision is made regarding this. The materials and information do not constitute an offer or a solicitation of an offer for the purchase or sale of any securities whatsoever or in any companies affiliated herein. Furthermore, this site may contain information and press releases about and by affiliates; however, although this information was believed to be accurate as of the date prepared we hereby disclaim any duty or obligation to update such information. To the extent that any information is deemed to be a 'forward looking statement' as defined in the rules and regulations of the Securities Act of 1933, as amended, such information is intended to fit within the 'safe harbor' for forward looking information and is subject to material risk factors which may or may not be disclosed herein. We do not intend to make any investment representations about or any companies affiliated with us, or of opportunities and should not be viewed as such. Buyers/Borrowers must perform their own independent due diligence. References to square footage or age are approximate. This summary is for information only and does not constitute all or any part of an offer or contract. Buyer must verify all information and bears all risk for any inaccuracies. Broker does not warrant any inaccuracies; pricing, availability etc. is subject to change.
ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing