620 WASHINGTON AVENUE, BROOKLYN, NY 11238 PRIME PROSPECT HEIGHTS LOCATION MIXED USE JEWEL – DELIVERED VACANT /VALUE-ADD POTENTIAL EXCLUSIVE OFFERING SUMMARY For further information, please contact exclusive broker: Ari Weisfogel (646) 472-8726 [email protected] 620 WASHINGTON AVENUE, BROOKLYN, NY 11238 PRIME PROSPECT HEIGHTS LOCATION MIXED USE JEWEL – DELIVERED VACANT /VALUE-ADD POTENTIAL Address: 620 WASHINGTON AVENUE, BROOKLYN, NY 11238 Description: 3-story 2,700 SF mixed use building containing one ground floor retail space and two apartments above. The property will be delivered vacant. There are approved plans to add one additional floor to the building, allowing for two 1,400 SF duplex apartments, each with their own outdoor patio space. The approved plans also allow for 450 SF to be added to the retail space by extending the back. Between Pacific Street and Dean Street Neighborhood Block/Lot Lot Size Built Stories Total Apartments Total Rooms Layout Total Stores Zoning FAR (built/allowed) Year Built Assessment/Taxes (14/15) 1st Mortgage: Delivered Free & Clear Income: Apartments (Projected) Commercial (Projected) Estimated Expenses: Taxes (14/15) Water & Sewer Payroll Fuel (Gas) Insurance Utilities Repairs, Maintenance, Misc. Estimated Net Operating Income: Prospect Heights 1131/17 20’ x 75’ 20’ x 45’ 3 2 8 2/4 1 C2-4/R6A 2.11/3.0 1931 $12,441/$2,388 $ 96,000 $ 60,000 $ $ $ $ $ $ $ 2,400 1,800 2,000 2,500 1,700 1,000 7,500 $156,000 $ 18,900 $137,100 Price: $2,200,000 ALL CASH Remarks: Right next door to brand new Hello Washington Boutique Luxury Condo Development at 618. One block south of Atlantic Avenue. Near the [A, C] subway trains. Metrics: Average Rent / Apartment / Month Price / SF Gross Rent Multiplier (x) Cap Rate (%) $4,000 (Projected) $815 14.01 6.23 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. AW103014 Besen & Associates, Inc., 381 Park Avenue South, New York, NY 10016 (212) 689-8488 Tel · (212) 689-9518 Fax · www.besenassociates.com 620 WASHINGTON AVENUE, BROOKLYN, NY 11238 PRIME PROSPECT HEIGHTS LOCATION MIXED USE JEWEL – DELIVERED VACANT /VALUE-ADD POTENTIAL PROPERTY PHOTO PLOT MAP 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. AW103014 Besen & Associates, Inc., 381 Park Avenue South, New York, NY 10016 (212) 689-8488 Tel · (212) 689-9518 Fax · www.besenassociates.com