2728 Church Ave
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2728 Church Ave
10 Unit Apartment Building $2,099,000 ($209,900/Unit) 8.01% Cap Rate Brooklyn, NY 11226
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 100% Occupied 13 Unit Mixed-Use Building In Flatbush For Sale!!!
- The Property Is Located In The Heart Of Flatbush Just Off Linden Blvd. & Minutes From Prospect Park, The Brooklyn Museum & Brooklyn Botanic Garden!!!
- The Building Has 27+ Feet Of Frontage On Busy Church Ave.!!!
- The Building Features Excellent Signage, Great Exposure, 3 Stores, 6 Parking Spaces, High 9’ Ceilings, Strong R6/C1-3 Zoning, (10) 1 Br. Apts., +++!!!
- Neighbors Include USPS, Target, T-Mobile, Walgreens, CubeSmart Self Storage, Dunkin’, Taco Bell, Subway, Duane Reade, Five Below, IHOP, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 100% Occupied 13 Unit Corner Mixed-Use Building In Flatbush For Sale!!! The Building Features Excellent Signage, Great Exposure, 3 Stores, 6 Parking Spaces, High 9’ Ceilings, Strong R6/C1-3 Zoning, (10) 1 Br. Apts., Basement, LED Lighting, 200 Amp, Power, A/C, +++!!! The Property Is Located In The Heart Of Flatbush 2 Blocks Off Linden Blvd. & Only Minutes From Prospect Park, The Brooklyn Museum & Brooklyn Botanic Garden!!! Neighbors Include USPS, UPS, Target, T-Mobile, Walgreens, CubeSmart Self Storage, Dunkin’, Taco Bell, Subway, Duane Reade, Five Below, IHOP, +++!!! The Building Has 27+ Feet Of Frontage On Busy Church Ave.!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!
Income:
Biali (Restaurant; 800 Sqft. + 800 Sqft. LL): $33,600 Ann.; Lease Exp.: 8/1/28; 3% Ann. Inc.; Been Here 10+ Years.
Royal Cloudz Convenience: (600 Sqft.; No LL): $36,000 Ann.; Lease Exp.: 12/1/29; 5%Ann. Inc.
Coco Glam Studio (Salon; 500 Sqft.; No LL): $21,168 Ann.; Lease Exp.: 7/1/25; Additional 5 Year Option ; 3% Ann. Inc.
Unit 1A (1 Br., 1 Bath): $9,620.52 Ann.
Unit 2A (1 Br., 1 Bath): $14,319.60 Ann.
Unit 3A (1 Br., 1 Bath): $13,500.72 Ann.
Unit 4A (1 Br., 1 Bath): $24,000 Ann.
Unit 2B (1 Br., 1 Bath): $12,435.60 Ann.
Unit 3B (1 Br., 1 Bath): $17,191.20 Ann.
Unit 4B (1 Br., 1 Bath): $16,219.32 Ann.
Unit 2C (1 Br., 1 Bath): $8,528.40 Ann.
Unit 3C (1 Br., 1 Bath): $16,077.60 Ann.
Unit 4C (1 Br., 1 Bath): $15,044.76 Ann.
Carport: $6,000 Ann. (Available)
3 Stores Gross Rent: $90,768 Ann.
10 Apartments Gross Rent: $146,937.72 Ann.
Total Gross Rent: $243,705.72 Ann.
Expenses:
Gas: $9,000 Ann.
Electric: $4,000 Ann. (Common Area Only)
Maintenance & Repairs: $250 Ann.
Insurance: $10,000 Ann.
Water & Sewer: $9,000 Ann.
Trash: $0 Ann.
Snow & Landscape: $0 Ann.
Taxes: $42,340 Ann.
Total Expenses: $75,590 Ann.
Total Gross Income: $243,705.72 Ann.
Net Operating Income (NOI): $168,115.72 Ann. (8.01 Cap!!!)
Income:
Biali (Restaurant; 800 Sqft. + 800 Sqft. LL): $33,600 Ann.; Lease Exp.: 8/1/28; 3% Ann. Inc.; Been Here 10+ Years.
Royal Cloudz Convenience: (600 Sqft.; No LL): $36,000 Ann.; Lease Exp.: 12/1/29; 5%Ann. Inc.
Coco Glam Studio (Salon; 500 Sqft.; No LL): $21,168 Ann.; Lease Exp.: 7/1/25; Additional 5 Year Option ; 3% Ann. Inc.
Unit 1A (1 Br., 1 Bath): $9,620.52 Ann.
Unit 2A (1 Br., 1 Bath): $14,319.60 Ann.
Unit 3A (1 Br., 1 Bath): $13,500.72 Ann.
Unit 4A (1 Br., 1 Bath): $24,000 Ann.
Unit 2B (1 Br., 1 Bath): $12,435.60 Ann.
Unit 3B (1 Br., 1 Bath): $17,191.20 Ann.
Unit 4B (1 Br., 1 Bath): $16,219.32 Ann.
Unit 2C (1 Br., 1 Bath): $8,528.40 Ann.
Unit 3C (1 Br., 1 Bath): $16,077.60 Ann.
Unit 4C (1 Br., 1 Bath): $15,044.76 Ann.
Carport: $6,000 Ann. (Available)
3 Stores Gross Rent: $90,768 Ann.
10 Apartments Gross Rent: $146,937.72 Ann.
Total Gross Rent: $243,705.72 Ann.
Expenses:
Gas: $9,000 Ann.
Electric: $4,000 Ann. (Common Area Only)
Maintenance & Repairs: $250 Ann.
Insurance: $10,000 Ann.
Water & Sewer: $9,000 Ann.
Trash: $0 Ann.
Snow & Landscape: $0 Ann.
Taxes: $42,340 Ann.
Total Expenses: $75,590 Ann.
Total Gross Income: $243,705.72 Ann.
Net Operating Income (NOI): $168,115.72 Ann. (8.01 Cap!!!)
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$243,706
|
$26.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$243,706
|
$26.20
|
| Taxes |
$42,340
|
$4.55
|
| Operating Expenses |
$33,250
|
$3.58
|
| Total Expenses |
$75,590
|
$8.13
|
| Net Operating Income |
$168,116
|
$18.08
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $243,706 |
| Annual Per SF | $26.20 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $243,706 |
| Annual Per SF | $26.20 |
| Taxes | |
|---|---|
| Annual | $42,340 |
| Annual Per SF | $4.55 |
| Operating Expenses | |
|---|---|
| Annual | $33,250 |
| Annual Per SF | $3.58 |
| Total Expenses | |
|---|---|
| Annual | $75,590 |
| Annual Per SF | $8.13 |
| Net Operating Income | |
|---|---|
| Annual | $168,116 |
| Annual Per SF | $18.08 |
Property Facts
Unit Amenities
- Heating
- Views
- Intercom
Site Amenities
- 24 Hour Access
- Security System
- Gas Range
- Trash Pickup - Curbside
- Storage Space
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 05105-0017 | Total Assessment | $355,950 (2024) |
| Land Assessment | $81,000 (2024) | Annual Taxes | $42,340 ($4.55/SF) |
| Improvements Assessment | $274,950 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
05105-0017
Land Assessment
$81,000 (2024)
Improvements Assessment
$274,950 (2024)
Total Assessment
$355,950 (2024)
Annual Taxes
$42,340 ($4.55/SF)
Tax Year
2023
zoning
| Zoning Code | R6 / C1-3 |
| R6 / C1-3 |
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