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$1,399,000
Est. payment /mo
2,240 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,240 sqft
Price per Sqft $624
MLS Listing ID 504067
Year Built 1930
Annual Tax Amount $20,803
Property Sub-Type Commercial
Property Description
Commercial/Mixed-use building on a high traffic block in Brighton Beach. The entire building is under lease by the same restaurant operator for 30+ years. The restaurant occupies the first floor and basement, as well as the 2nd floor residential space that is currently used as storage and event space by the restaurant operator. The current lease ends in January, 2028 and is available for review upon request. The tenant is current on the rent, but is presently receiving a preferential rent amount ($10,241/mo.) rather than the actual rent ($11,323). The 2027 rent amount will be $11,776 as per the lease agreement. The lease also calls for the tenant to pay the entire NYC Property Tax, but the landlord has not yet enforced that provision. The CURRENT rent makes this deal a 7 cap, while the actual rent and lease terms, once enforced, makes it a 9 cap! Can possibly be delivered vacant as well. This building is perfect for an owner/operator, or for the savvy investor who will surely recognize the significant upside potential of this situation. Listed Exclusively. Please do not approach the tenant. Listing status updated daily.
Location
State NY
County Kings (brooklyn)
Area Brighton Beach
Zoning R6
Rooms
Basement Partial
Interior
Interior Features Restrooms - Public
Equipment None
Exterior
Roof Type Flat
Present Use Restaurant
Building
Story 2
Foundation Poured Concrete
Others
Financing 1031 Exchange,Bank Mortgage,Cash
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Listed by Calemine & Co. Real Estate, LL
NEARBY SCHOOL & BUSINESS
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