7506 5th Ave - 7506 5th Ave, Brooklyn
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7506 5th Ave - 7506 5th Ave, Brooklyn
3 Unit Apartment Building Offered at $1,650,000 at a 3.45% Cap Rate in Brooklyn, NY 11209
Investment Highlights
- Heavy Daytime Foot Traffic
- Brick Construction
- Near Public Transportation
- Easy Access to Public Transportation
Executive Summary
Welcome to 7506 5th Ave, a prime commercial property situated in the heart of Bay Ridge, Brooklyn. Boasting an excellent location with heavy daytime foot traffic, this property presents a lucrative investment opportunity. Currently 100% leased, the first floor is home to a bustling convenience store and deli, catering to the bustling neighborhood. The upper floors offer versatile living spaces, with each floor featuring three bedrooms, a full bath, a spacious living room, dining room, an eat-in kitchen. This setup provides ample living space and flexibility for potential tenants or owners. Current residential rents are below market and have plenty of room for improvement.
Whether you're looking to expand your investment portfolio or establish your business in a thriving neighborhood, this property offers endless potential. Don't miss the chance to secure this prime commercial space in one of Brooklyn's most sought-after locations. BEING SOLD AS IS.
1st Floor - Convenience/Deli
2nd Floor - 3 Beds, 1 Bath, Living Room, Dining Room, Eat In Kitchen
3rd Floor - 3 Beds, 1 Bath, Living Room, Dining Room, Eat In Kitchen
Electric separately metered
Cooking gas separately metered
Whether you're looking to expand your investment portfolio or establish your business in a thriving neighborhood, this property offers endless potential. Don't miss the chance to secure this prime commercial space in one of Brooklyn's most sought-after locations. BEING SOLD AS IS.
1st Floor - Convenience/Deli
2nd Floor - 3 Beds, 1 Bath, Living Room, Dining Room, Eat In Kitchen
3rd Floor - 3 Beds, 1 Bath, Living Room, Dining Room, Eat In Kitchen
Electric separately metered
Cooking gas separately metered
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$103,800
|
$31.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,800
|
$31.45
|
| Taxes |
$11,870
|
$3.60
|
| Operating Expenses |
$35,000
|
$10.61
|
| Total Expenses |
$46,870
|
$14.20
|
| Net Operating Income |
$56,930
|
$17.25
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $103,800 |
| Annual Per SF | $31.45 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $103,800 |
| Annual Per SF | $31.45 |
| Taxes | |
|---|---|
| Annual | $11,870 |
| Annual Per SF | $3.60 |
| Operating Expenses | |
|---|---|
| Annual | $35,000 |
| Annual Per SF | $10.61 |
| Total Expenses | |
|---|---|
| Annual | $46,870 |
| Annual Per SF | $14.20 |
| Net Operating Income | |
|---|---|
| Annual | $56,930 |
| Annual Per SF | $17.25 |
Property Facts Under Contract
Unit Amenities
- Air Conditioning
- Cable Ready
- Eat-in Kitchen
- Attic
- Basement
1 of 1
Walk Score ®
Walker's Paradise (92)
Transit Score ®
Rider's Paradise (93)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 05941-0042 | Total Assessment | $83,640 (2024) |
| Land Assessment | $22,380 (2024) | Annual Taxes | $11,870 ($3.60/SF) |
| Improvements Assessment | $61,260 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
05941-0042
Land Assessment
$22,380 (2024)
Improvements Assessment
$61,260 (2024)
Total Assessment
$83,640 (2024)
Annual Taxes
$11,870 ($3.60/SF)
Tax Year
2023
zoning
| Zoning Code | R6B, BR, C1-3 (Residential Low Rise Buildings, Commercial Retail Space, Mixed Use Building) |
| R6B, BR, C1-3 (Residential Low Rise Buildings, Commercial Retail Space, Mixed Use Building) |
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7506 5th Ave - 7506 5th Ave, Brooklyn
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