1671 Flatbush Ave

The subject property is a three-story mixed-use building located on the east side of Flatbush Avenue between Avenue H and Avenue I in the Flatlands area of Brooklyn. The building measures approx. 2,940 sq. ft. and contains a ground floor retail space that’s currently vacant, and (2) two-bedroom apartments. The lot also owns aprrox. 3,054 sq. ft. of unused air rights that can be used for future development of the property. The site is in close proximity to the (2) and (5) trains at the Flatbush Avenue - Brooklyn College station.

Building Type: Mixed-Use Investment Buildings
Location: Flatlands
Section/Block/Lot: 3/7579/7
Lot Dimensions: 20' x 99.92'
(Approx.)
Lot Sq Ft: 1,998
(Approx.)
Available Air Rights: 3,054
(Approx.)
Stories: 3
Residential Units: 2
Commercial Units: 1
Zoning: C2-2/R6
FAR: 3.00
Taxes: $5,125
(15/16)
Building Sq Ft: 2,940
(Approx.)
Building Dimensions: 20' x 49'
(Approx.)

Expenses
Real Estate Taxes: $5,125 (15/16)
Insurance: $2,205 Projected @ $0.75 Per SF
Water/Sewer: $2,940 Projected @ $1.00 Per SF
Fuel: $3,675 Projected @ $1.25 Per SF
Electric: $1,029 Projected @ $0.35 Per SF
Repairs/Maintenance: $1,764 Projected @ $0.60 Per SF
Management Fees: $1,083 3.0% of EGI
Total Annual Expenses: $17,821 (Projected)
Investment Information
Gross Monthly Income: $7,300 (Projected)
Gross Annual Income: $87,600 (Projected)
Less Total Expenses: $17,821 (Projected)
Net Operating Income: $69,779 (Projected)