Location, Location, Location!!! This Mixed Use building is sitting on the busiest junction in Bensonhurst, 18th avenue and 65th street, and has extremely rare C4-2 zoning.Presently, the building features a store and 2 residential units, fully occupied with below-market residential rents allowing for great upside. The store has undergone serious renovation last year and has 19 years lease in place with above-average annual rent escalations, topping out at 6% over the last five years, and strong financials to back it up. The two residential units are a 2 bedroom and a 1 bedroom with both tenants in good standing. Most desirable, however, is the C4-2 zoning, allowing for 5610 sq ft of buildable on the lot, far above neighboring properties. Coupled with the rent escalations built into the commercial lease, the potential of redevelopment makes this property extra appealing.Taxes are $16,360 annually, partially supported by the commercial tenant, and expenses are very low.This is a co-exclusive listing. Please contact us for more details. Buyer agent CYOF.
Courtesy of: Douglas Elliman 774 Broadway
Office Phone: 212.995.5357
Listing Agent: Rinat Gabai
Updated: 13th December, 2018 8:54 AM.
6516 18th Avenue Brooklyn, NY