1 Merit Ct
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1 Merit Ct
4,200 SF Specialty Building Offered at $1,750,000 at a 10.13% Cap Rate in Brooklyn, NY 11229
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 4,200 Sqft. Marina/Hall With 19 Boat Slips In Gerritsen Beach For Sale!!!
- According To A Recent Building Inspection The Steel Navy Bulkhead Has Another 25-30 Years Left Of Life!!!
- Neighbors Include The Home Depot, Public Storage, Dunkin’, Cold Stone Creamery, T.J. Maxx, Tim Hortons, Aldi, +++!!!
- The Property Features High 17’ Ceilings, 19 Deep Water Boat Slips, 19 Parking Spaces, 88' Of Waterfront, Strong R4-1 Zoning, Steel Navy Bulkhead, +++!
- The Property Is Located In The Heart Of Gerritsen Beach Near The Gerritsen Inlet Bridge & Mau Mau Island!!!
- This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 4,200 Sqft. Marina/Hall With 19 Boat Slips In Gerritsen Beach For Sale!!!The Property Features High 17’ Ceilings, 19 Deep Water Boat Slips, 19 Parking Spaces, 88 Feet Of Waterfront, Strong R4-1 Zoning, Steel Navy Bulkhead, Private Gated Lot, Indoor Bar, Patio Area, Strategically Placed Curb Cut, 240 Amp Power, Low Property Taxes, Full Commercial Kitchen, Tin Roof, All New LED Lighting, CAC, +++!!! According To A Recent Building Inspection The Steel Navy Bulkhead Has Another 25-30 Years Left Of Life!!! The Property Is Located In The Heart Of Gerritsen Beach Near The Gerritsen Inlet Bridge & Mau Mau Island!!! Neighbors Include The Home Depot, Public Storage, Dunkin’, Cold Stone Creamery, T.J. Maxx, Tim Hortons, Aldi, +++!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
19 Boat Slips: $60,000 Ann. ($105 Per Foot)
2nd Floor Catering Hall: $72,000 Ann. (Available)
1st Floor Commercial Kitchen: $60,000 Ann. (Available)
Pro Forma Gross Income: $192,000 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $1,138 Ann.
Insurance: $3,823 Ann.
Snow & Landscape: $0 Ann.
Water & Sewer: $1,000 Ann.
Trash: $0 Ann.
Taxes: $8,836 Ann.
Total Expenses: $14,797 Ann.
Pro Forma Net Operating Income (NOI): $177,203 Ann. (10.13 Cap!!!)
Income:
19 Boat Slips: $60,000 Ann. ($105 Per Foot)
2nd Floor Catering Hall: $72,000 Ann. (Available)
1st Floor Commercial Kitchen: $60,000 Ann. (Available)
Pro Forma Gross Income: $192,000 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $1,138 Ann.
Insurance: $3,823 Ann.
Snow & Landscape: $0 Ann.
Water & Sewer: $1,000 Ann.
Trash: $0 Ann.
Taxes: $8,836 Ann.
Total Expenses: $14,797 Ann.
Pro Forma Net Operating Income (NOI): $177,203 Ann. (10.13 Cap!!!)
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$192,000
|
$45.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$192,000
|
$45.71
|
| Taxes |
$8,836
|
$2.10
|
| Operating Expenses |
$5,961
|
$1.42
|
| Total Expenses |
$14,797
|
$3.52
|
| Net Operating Income |
$177,203
|
$42.19
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $192,000 |
| Annual Per SF | $45.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $192,000 |
| Annual Per SF | $45.71 |
| Taxes | |
|---|---|
| Annual | $8,836 |
| Annual Per SF | $2.10 |
| Operating Expenses | |
|---|---|
| Annual | $5,961 |
| Annual Per SF | $1.42 |
| Total Expenses | |
|---|---|
| Annual | $14,797 |
| Annual Per SF | $3.52 |
| Net Operating Income | |
|---|---|
| Annual | $177,203 |
| Annual Per SF | $42.19 |
Property Facts
| Price | $1,750,000 | Building Class | C |
| Price Per SF | $417 | Lot Size | 0.22 AC |
| Sale Type | Investment or Owner User | Building Size | 4,200 SF |
| Cap Rate | 10.13% | No. Stories | 2 |
| Property Type | Specialty | Year Built/Renovated | 1920/2014 |
| Property Subtype | Marina | Parking Ratio | 4.52/1,000 SF |
| Price | $1,750,000 |
| Price Per SF | $417 |
| Sale Type | Investment or Owner User |
| Cap Rate | 10.13% |
| Property Type | Specialty |
| Property Subtype | Marina |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 4,200 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2014 |
| Parking Ratio | 4.52/1,000 SF |
Amenities
- Bus Line
- Waterfront
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 08876-2762 | Total Assessment | $87,300 |
| Land Assessment | $48,600 | Annual Taxes | $8,836 ($2.10/SF) |
| Improvements Assessment | $38,700 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
08876-2762
Land Assessment
$48,600
Improvements Assessment
$38,700
Total Assessment
$87,300
Annual Taxes
$8,836 ($2.10/SF)
Tax Year
2024
zoning
| Zoning Code | R4-1 (Amusement Park) |
| R4-1 (Amusement Park) |
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