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Narrows Professional Building 9920-9922 4th Ave
45,000 SF 81% Leased Office Building Brooklyn, NY 11209 $15,500,000 ($344/SF) 5.20% Cap Rate
Investment Highlights
- Corner Building with Exposure
- Indoor & Outdoor Parking
- On Site Property Manager
- Two New Elevators
- Close to Major Transportation
- Retail & Office Tenants
Executive Summary
45,000 SF spanning across three floors, 40 Indoor Parking spaces in a Heated Garage with elevator access, 13 Outdoor Parking spaces, dedicated HVAC systems per unit, 2 Newly upgraded elevators, and a full time on site property manager. Some Major Tenants include Mass Mutual, Jag One Physical Therapy, Colonial Pharmacy, PRO Health, and many more.
Ideally located with easy Access from the Belt Parkway, Verrazano Bridge, Brooklyn-Queens Expressway, R-Train, and Local & Express Buses to NYC
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,890,324
|
$42.01
|
| Other Income |
$15,300
|
$0.34
|
| Vacancy Loss |
$94,516
|
$2.10
|
| Effective Gross Income |
$1,811,108
|
$40.25
|
| Taxes |
$485,066
|
$10.78
|
| Operating Expenses |
$520,100
|
$11.56
|
| Total Expenses |
$1,005,166
|
$22.34
|
| Net Operating Income |
$805,942
|
$17.91
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $1,890,324 |
| Annual Per SF | $42.01 |
| Other Income | |
|---|---|
| Annual | $15,300 |
| Annual Per SF | $0.34 |
| Vacancy Loss | |
|---|---|
| Annual | $94,516 |
| Annual Per SF | $2.10 |
| Effective Gross Income | |
|---|---|
| Annual | $1,811,108 |
| Annual Per SF | $40.25 |
| Taxes | |
|---|---|
| Annual | $485,066 |
| Annual Per SF | $10.78 |
| Operating Expenses | |
|---|---|
| Annual | $520,100 |
| Annual Per SF | $11.56 |
| Total Expenses | |
|---|---|
| Annual | $1,005,166 |
| Annual Per SF | $22.34 |
| Net Operating Income | |
|---|---|
| Annual | $805,942 |
| Annual Per SF | $17.91 |
Property Facts
Amenities
- Courtyard
- Fenced Lot
- Property Manager on Site
- Reception
- Natural Light
- Drop Ceiling
- Air Conditioning
- Fiber Optic Internet
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
LARGE SPACE WITH RECEPTION, WAITING, AREA, 5 EXAM ROOMS OR OFFICES, RESTROOM, AND STAFF ROOM. INCLUDES INDOOR PARKNG.
MOVE IN CONDITION PROFESSIONAL 4,250 SF CORNER OFFICE AVAILABLE ON THE 2ND FLOOR OF ELEVATOR BUILDING. FEATURES A MODERN RECEPTION, 4 EXECUTIVE OFFICES ALL WITH WINDOWS FACING 4TH AVENUE, A LARGE CONFERENCE ROOM, TRAINING ROOM, 20 FULL SIZE CUBICLES, FILING CABINETS, AND EXECUTIVE DESKS. FULL KITCHEN, PANTRY, FILING ROOM, AND 4 PARKING SPACES IN THE GARAGE. NEW HVAC. FULLY FURNISHED AND MOVE IN READY. PREVIOUSLY OCCUPIED BY A MAJOR INSURANCE COMPANY! CONTACT BROKER FOR ALL DETAILS!
- 3rd Fl-Ste 303
- 1,160 SF
- Office/Medical
- -
- Now
Available for LEASE - MOVE IN CONDITION CORNER SUITE - 3RD FL OF ELEVATOR BUILDING. SPACE HAS - 4 Private Offices, Reception, Waiting Area, 2 Restrooms, Kitchenette, includes 1 Indoor Parking Space
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 203 | 1,850 SF | Office/Medical | - | Now |
| 2nd Fl-Ste 210 | 4,250 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 303 | 1,160 SF | Office/Medical | - | Now |
| 3rd Fl-Ste 313 | 1,348 SF | Office/Medical | Full Build-Out | Now |
2nd Fl-Ste 203
| Size |
| 1,850 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 210
| Size |
| 4,250 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 303
| Size |
| 1,160 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
3rd Fl-Ste 313
| Size |
| 1,348 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 203
| Size | 1,850 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | Now |
LARGE SPACE WITH RECEPTION, WAITING, AREA, 5 EXAM ROOMS OR OFFICES, RESTROOM, AND STAFF ROOM. INCLUDES INDOOR PARKNG.
2nd Fl-Ste 210
| Size | 4,250 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
MOVE IN CONDITION PROFESSIONAL 4,250 SF CORNER OFFICE AVAILABLE ON THE 2ND FLOOR OF ELEVATOR BUILDING. FEATURES A MODERN RECEPTION, 4 EXECUTIVE OFFICES ALL WITH WINDOWS FACING 4TH AVENUE, A LARGE CONFERENCE ROOM, TRAINING ROOM, 20 FULL SIZE CUBICLES, FILING CABINETS, AND EXECUTIVE DESKS. FULL KITCHEN, PANTRY, FILING ROOM, AND 4 PARKING SPACES IN THE GARAGE. NEW HVAC. FULLY FURNISHED AND MOVE IN READY. PREVIOUSLY OCCUPIED BY A MAJOR INSURANCE COMPANY! CONTACT BROKER FOR ALL DETAILS!
3rd Fl-Ste 313
| Size | 1,348 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Available for LEASE - MOVE IN CONDITION CORNER SUITE - 3RD FL OF ELEVATOR BUILDING. SPACE HAS - 4 Private Offices, Reception, Waiting Area, 2 Restrooms, Kitchenette, includes 1 Indoor Parking Space
PROPERTY TAXES
| Parcel Number | 06134-0028 | Total Assessment | $4,538,700 |
| Land Assessment | $553,500 | Annual Taxes | $485,066 ($10.78/SF) |
| Improvements Assessment | $3,985,200 | Tax Year | 2024 |
PROPERTY TAXES
-
Wade Jabour -
Milan Obradovic -
Jabour Realty Co
Presented by
Narrows Professional Building | 9920-9922 4th Ave
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