426 - 430 Union Ave
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426 - 430 Union Ave
3 Properties in Brooklyn, NY
Investment Highlights
- Free Market, Mixed-use Corner property perfect for a new development or investment!
- Additional FAR to build
- High foot traffic area in Prime WIlliamsburg with the Metropolitan Ave L/G train just a block away
- 3 contiguous buildings on one tax lot featuring 9-Units, bonus workspace & 2 legal curb cuts.
- Great Income & Low Maintenace - Property is in excellent condition
- Tenants on month-to-month leases, except three residential units whose leases expire in 2024
Executive Summary
Excellent Investment/development opportunity in prime Williamsburg, Brooklyn! This beautiful FREE MARKET 9-Unit, mixed-use corner property consists of 3 contiguous buildings that include 5 residential units, 2 lofts and 2 retail/office spaces.
430 Union Ave: Charming 5-family brick residential building featuring Four 1-beds & One 2bed-2bath plus partial finished basement & backyard)
426 Union Ave (AKA 1-5 Devoe St): Two-story corner retail & office building with basement, offering 2 Units ranging 1650-1800sqft each)
9 Devoe Street: Two-story brick building hosting 2 lofts, each approximately 1200Sqft, complete with a backyard and roof deck
Additional highlights include a 325 sqft bonus workspace, two legal curb cuts and additional FAR to build offering further development potential of a prominent corner new development. With a pro-forma NOI of $550k+ in as is condition with minimal renovation and a cap rate of 6.4%, this property offers great income with minimal maintenance. All units are free market and in great condition. Tenants do not have leases with the exception of three residential units whose leases expire in 2024.
Lot: 50 x 108 | Lot SQFT: 5,400
Building SQFT: 10,800
FAR As built 2
Zoning: R7A, C2-4
For more information, please do not hesitate to contact me!
430 Union Ave: Charming 5-family brick residential building featuring Four 1-beds & One 2bed-2bath plus partial finished basement & backyard)
426 Union Ave (AKA 1-5 Devoe St): Two-story corner retail & office building with basement, offering 2 Units ranging 1650-1800sqft each)
9 Devoe Street: Two-story brick building hosting 2 lofts, each approximately 1200Sqft, complete with a backyard and roof deck
Additional highlights include a 325 sqft bonus workspace, two legal curb cuts and additional FAR to build offering further development potential of a prominent corner new development. With a pro-forma NOI of $550k+ in as is condition with minimal renovation and a cap rate of 6.4%, this property offers great income with minimal maintenance. All units are free market and in great condition. Tenants do not have leases with the exception of three residential units whose leases expire in 2024.
Lot: 50 x 108 | Lot SQFT: 5,400
Building SQFT: 10,800
FAR As built 2
Zoning: R7A, C2-4
For more information, please do not hesitate to contact me!
Data Room Click Here to Access
Taxes & Operating Expenses (Pro forma - 2024) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Sale Type | Investment or Owner User | Individually For Sale | 0 |
| Status | Active | Total Building Size | 8,610 SF |
| Number of Properties | 3 | Total Land Area | 0.24 AC |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 8,610 SF |
| Total Land Area | 0.24 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 426 Union Ave, Brooklyn, NY 11211 | Retail | 3,137 SF | 1930 | - |
| 430 Union Ave, Brooklyn, NY 11211 | Multifamily | 2,973 SF | 1930 | - |
| 9 Devoe St, Brooklyn, NY 11211 | Office | 2,500 SF | 1930 | - |
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426 - 430 Union Ave
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