FOR SALE EXCLUSIVE LISTING EMH Commercial Realty

Transcription

1 FOR SALE EXCLUSIVE LISTING EMH Commercial Realty 9 Marcus Garvey Blvd, Brooklyn, NY Exclusive Agents: Yona & Baruch Edelkopf

2 Description: EMH Commercial Realty has been retained on an exclusive basis to arrange the sale of 9 Marcus Garvey Boulevard. Located in the Bedford- Stuyvesant section of Brooklyn, the subject property is a fully occupied mixed-use building consisting of two retail units and five free market two bedroom apartments. The building recently underwent extensive renovations and currently boasts high end finishes and new mechanicals. The property is steps away from the Flushing Ave J,Z,M Subway Station and situated around the corner from the busy Broadway retail corridor recently strengthened with the opening of Starbucks. Investment Highlights Asking Price $2,955,000 Price/Buildable $340 Cap Rate 5.43% Neighborhood Bedford-Stuyvesant Property Type Mixed-Use Commercial Units 2 Residential Units 5 Gross Income $191,340 Description Company and Investment Overview Highlights Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. 2

3 Property Information Address 9 Marcus Garvey Blvd City State Zip Brooklyn, NY Cross Streets Ellery St & Broadway Neighborhood Bedford-Stuyvesant Block & Lot Lot Dimensions 25 ft x 87 ft Lot SF 2,175 Zoning C4-4L F.A.R Building Information Building Class S9 Building Dimensions 25 ft x 45 ft Building SF 3,375 Construction type Frame Total Lot FAR 8,700 Unused FAR 5,325 Stories 3 Residential Units 5 Commercial Units 2 Total Units 7 Property Company Information Overview Tax assessor's market value $582,000 Taxes 2018 $10,406 Tax Class 2A 3

4 Commercial Rent Roll Unit SF Rent/SF Status Escalations LXP Monthly Rent Annual Base Rent Store $ Actual 3% Jul-21 $1,545 $18,540 Store $ Actual 3% Oct-22 $1,500 $18, $ $3,045 $36,540 Unit Bedrooms Rooms Status Residential Rent Roll Rent Type Comments LXP Monthly Rent Annual Rent Actual FM Duplexed Jul-19 $2,800 $33,600 2R 2 5 Actual FM Jul-19 $2,400 $28,800 2L 2 5 Actual FM Sep-18 $2,400 $28,800 3R 2 5 Actual FM Duplex Sep-18 $2,650 $31,800 3L 2 5 Actual FM Duplex Sep-18 $2,650 $31, $12,900 $154,800 Company Rent Roll Overview 4

5 Revenue Investment Analysis Commercial Monthly Revenue $3,045 Commercial Yearly Base Revenue $36,540 Commercial Yearly Reimbursements $0 Total Commercial Yearly Revenue $36,540 Residential Monthly Revenue $12,900 Residential Yearly Revenue $154,800 Average Monthly Rent per Unit $2,580 Average Monthly Rent per Room $516 Total Gross Monthly Income $15,945 Total Gross Annual Income $191,340 Vacancy Loss ($5,740) Effective Gross Annual Income $185,600 Estimated Operating Expenses Water/Sewer $4,000 Heat $0 Utilities $0 Insurance $2,500 Real Estate Taxes $10,406 Repairs & Maintenance $2,750 Management $5,568 Total Operating Expenses $25,224 Financial Analysis Net Operating Income $160,376 Asking Price $2,955,000 Capitalization Rate 5.43% GRM Price per Unit $422,143 Price per Built SF $876 Price per Buildable SF $340 Investment Company Analysis Overview 5

6 6 Interior Company Photos Overview

7 7 Maps

8 Bedford-Stuyvesant is a vast Brooklyn neighborhood filled with historic brownstones and Victorian architecture. Starting in the 1920s and '30s, many young families moved to Bed-Stuy from Harlem in search of more space, quieter streets and a community they could call their own. The neighborhood's leafy streets and classic brownstones have made it a favorite amid Brooklyn's ongoing resurgence. Young professionals and artists are moving in, and new restaurants, bars and businesses are cropping up along Bed-Stuy's streets and avenues. Neighborhood Company Overview 8

9 EMH Commercial Realty was formed with the sole focus of closing commercial transactions in the smoothest and most efficient way possible. The primary focus of our team will be on the Brooklyn NY markets - a marketplace that our brokers have had much historical success. We utilize the latest in cutting edge technology and foster an open team environment to bring much needed market insight that is critical to each deal that comes across our desks. Our experienced team of motivated brokers work diligently with our base of sellers and investors to enhance and facilitate each transaction. That said, EMH is uniquely poised to be your subject matter expert for all your commercial real estate needs. Company Overview Overview 9

10 EMH Commercial Realty 109 South 5 th Street Suite 3100 Brooklyn NY Yona Edelkopf Desk: (718) yona@emhcr.com Baruch Edelkopf Desk: (718) baruch@emhcr.com Exclusive Company Agent Contact Overview 10