99 Kingsland #101
Brooklyn, NY 11222
Sq. Ft.: 400
Commercial retail/office condo with 23 feet of prime frontage for sale located on the border of Williamsburg and GreenPoint, in one of the most gentrified areas of Brooklyn . The space is currently rented to a Snack/Smoke Shop paying $1900/month along with $200/month credit to cover the utilities portion of the HOA fee of $438.94/month. There is a current lease in place for the next 10 years, with a 3% increase built-in annually. This guarantees a great return for many years to come. There is also a 421A tax exemption(ends 6/2021) so the current property taxes are only $797/year, which the tenant is 100% responsible for.NOI is $19,934/year. Solid 5.3% cap rate with huge potential for even higher return down the road. Great investment for an unheard of low price.This retail condo is part of the Continental Towers which consists of 24 residential apartments, 2 commercial spaces, and 12 parking spaces.The store is minutes to McDonald's, Staples, and many boutique shops. Walking distance to the L subway on Graham Avenue and a short commute to Manhattan.
Total Rooms: 0
Handicap Access: Yes
Utilities: Gas, Heat, Sewer, Water
Lot Size in Acres: 0
Lot Size in Sq. Ft.: 0
Property Type: CND
Property SubType: Condo
Property SubType 2: Condo
Units in Complex: 26
Floor of Unit: 4
Maintenance Fee: 438.94
Features: A/C Unit, A/C Unit - Wall, Patio Garden
$ per month
Year Fixed. % Interest Rate.
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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Listing courtesy of Keller Williams Realty Empire
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BNYMLS (Brooklyn) data last updated at November 21, 2017 12:24 AM ET