335 S 2nd St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
335 S 2nd St
20 Unit Apartment Building $4,750,000 ($237,500/Unit) 8.55% Cap Rate Brooklyn, NY 11211
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 8.55 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!!
- The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!!
- Neighbors Include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, +++!!!
- The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R6/C2-3 Zoning, +++!!!
- The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 8.55 Cap 100% Occupied 25 Unit Mixed-Use Building In Williamsburg For Sale!!! The Building Features Excellent Signage, Great Exposure, 5 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R6/C2-3 Zoning, Signalized Intersection, (4) 3 Br. Apts., (8) 2 Br. Apts., (8) 1 Br., Full Basement, All New LED Lighting, 200 Amp, Power, CAC, +++!!! The Property Is Located In The Heart Of Williamsburg 1 Block Off I-278 & Just Minutes From The Williamsburg Bridge!!! Neighbors Include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin’, Liberty Tax, Meineke Car Care Center, Trader Joe’s, McDonald’s, IHOP, +++!!! The Building Has 345+ Feet Of Wrap-Around Frontage On Busy S. 2nd Street, Borinquen Place & Keap Street!!! This Property Offers HUGE Upside Potential!!! This Could Make A Great Addition To Your Investment Portfolio Or Be The Next Home For Your Business!!!
Income:
Black Flamingo (Bar): $120,000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Diaz Food Center (Grocery Store): $40,200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
El Gran Canario (Restaurant): $69,600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Juice Bar & Lounge: $39,000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Beauty Salon: $21,600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Unit 2A: $16,500 Ann.; Lease Exp.: 12/31/23.
Unit 2B: $24,000 Ann.; Lease Exp.: 6/30/24.
Unit 2C: $22,200 Ann.; Lease Exp.: 2/28/24.
Unit 2D: $11,544 Ann.; Lease Exp.: 7/31/24.
Unit 2E: $10,152 Ann.; Lease Exp.: 12/31/24.
Unit 3A: $ 11,724 Ann.; Lease Exp.: 11/30/23.
Unit 3B: $18,444 Ann.; Lease Exp.: 6/14/23.
Unit 3C: $12,624 Ann.; Lease Exp.: 7/31/23.
Unit 3D: $17,880 Ann.; Lease Exp.: 2/28/24.
Unit 3E: $11,136 Ann.; Lease Exp: 7/31/24.
Unit 4A: $9,240 Ann.; Lease Exp.: 12/31/24.
Unit 4B: $10,920 Ann.; Lease Exp.: 3/14/24.
Unit 4C: $18,444 Ann.; Lease Exp.: 11/30/23.
Unit 4D: $18,792 Ann.; Lease Exp.: 3/31/25.
Unit 4E: $9,816 Ann.; Lease Exp.: 3/31/24.
Unit 5A: $8,364 Ann.; Lease Exp.: 1/31/25.
Unit 5B: $21,000 Ann.; Lease Exp.: 6/30/24.
Unit 5C: $8,016 Ann.; Lease Exp.: 12/31/23.
Unit 5D: $15,240 Ann.; Lease Exp.: 10/14/23.
Unit 5E: $9,204 Ann.; Lease Exp.: 10/14/24.
Tax Rebate (Paid By The Stores): $40,636 Ann.
Water Rebate (Paid By The Stores): $10,392 Ann.
Expenses:
Oil: $34,987 Ann.
Electric: $3,142 Ann. (Common Area Only)
Maintenance & Repairs: $5,000 Ann.
Property Super: $5,000 Ann.
Insurance: $17,680 Ann.
Water: $31,442 Ann.
Taxes: $123,140 Ann.
Total Expenses: $220,391 Ann.
Current Gross Income: $626,668 Ann.
Net Operating Income (NOI): $406,277 Ann. (8.55 Cap!!!)
Income:
Black Flamingo (Bar): $120,000 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Diaz Food Center (Grocery Store): $40,200 Ann.; Lease Exp.: 2031; $600 Ann. Inc.; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
El Gran Canario (Restaurant): $69,600 Ann.; Lease Exp.: 2034; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Juice Bar & Lounge: $39,000 Ann.; Lease Exp.: 2032; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Beauty Salon: $21,600 Ann.; Lease Exp.: 2031; Pays 1/3 Of Taxes + 1/3 Of Water Bill.
Unit 2A: $16,500 Ann.; Lease Exp.: 12/31/23.
Unit 2B: $24,000 Ann.; Lease Exp.: 6/30/24.
Unit 2C: $22,200 Ann.; Lease Exp.: 2/28/24.
Unit 2D: $11,544 Ann.; Lease Exp.: 7/31/24.
Unit 2E: $10,152 Ann.; Lease Exp.: 12/31/24.
Unit 3A: $ 11,724 Ann.; Lease Exp.: 11/30/23.
Unit 3B: $18,444 Ann.; Lease Exp.: 6/14/23.
Unit 3C: $12,624 Ann.; Lease Exp.: 7/31/23.
Unit 3D: $17,880 Ann.; Lease Exp.: 2/28/24.
Unit 3E: $11,136 Ann.; Lease Exp: 7/31/24.
Unit 4A: $9,240 Ann.; Lease Exp.: 12/31/24.
Unit 4B: $10,920 Ann.; Lease Exp.: 3/14/24.
Unit 4C: $18,444 Ann.; Lease Exp.: 11/30/23.
Unit 4D: $18,792 Ann.; Lease Exp.: 3/31/25.
Unit 4E: $9,816 Ann.; Lease Exp.: 3/31/24.
Unit 5A: $8,364 Ann.; Lease Exp.: 1/31/25.
Unit 5B: $21,000 Ann.; Lease Exp.: 6/30/24.
Unit 5C: $8,016 Ann.; Lease Exp.: 12/31/23.
Unit 5D: $15,240 Ann.; Lease Exp.: 10/14/23.
Unit 5E: $9,204 Ann.; Lease Exp.: 10/14/24.
Tax Rebate (Paid By The Stores): $40,636 Ann.
Water Rebate (Paid By The Stores): $10,392 Ann.
Expenses:
Oil: $34,987 Ann.
Electric: $3,142 Ann. (Common Area Only)
Maintenance & Repairs: $5,000 Ann.
Property Super: $5,000 Ann.
Insurance: $17,680 Ann.
Water: $31,442 Ann.
Taxes: $123,140 Ann.
Total Expenses: $220,391 Ann.
Current Gross Income: $626,668 Ann.
Net Operating Income (NOI): $406,277 Ann. (8.55 Cap!!!)
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$626,668
|
$30.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$626,668
|
$30.27
|
| Taxes |
$123,140
|
$5.95
|
| Operating Expenses |
$97,251
|
$4.70
|
| Total Expenses |
$220,391
|
$10.65
|
| Net Operating Income |
$406,277
|
$19.63
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $626,668 |
| Annual Per SF | $30.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $626,668 |
| Annual Per SF | $30.27 |
| Taxes | |
|---|---|
| Annual | $123,140 |
| Annual Per SF | $5.95 |
| Operating Expenses | |
|---|---|
| Annual | $97,251 |
| Annual Per SF | $4.70 |
| Total Expenses | |
|---|---|
| Annual | $220,391 |
| Annual Per SF | $10.65 |
| Net Operating Income | |
|---|---|
| Annual | $406,277 |
| Annual Per SF | $19.63 |
Property Facts
Unit Amenities
- Storage Space
- Ceiling Fans
- Views
- Carpet
- Basement
- Den
- Dining Room
- Freezer
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Security System
- On-Site Retail
- Storage Space
- Bicycle Storage
- Maintenance on site
- On-Site ATM
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | - | - |
| 2+1 | 8 | - | - |
| 1+2 | 8 | - | - |
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 02411-0027 | Total Assessment | $1,238,850 (2024) |
| Land Assessment | $149,850 (2024) | Annual Taxes | $123,140 ($5.95/SF) |
| Improvements Assessment | $1,089,000 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
02411-0027
Land Assessment
$149,850 (2024)
Improvements Assessment
$1,089,000 (2024)
Total Assessment
$1,238,850 (2024)
Annual Taxes
$123,140 ($5.95/SF)
Tax Year
2023
zoning
| Zoning Code | R6/C2-3 |
| R6/C2-3 |
-
Matthew Shane -
All Island Commercial
1 of 23
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
335 S 2nd St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.