774 55th Street

Welcome to the newly renovated four levels commercial building located in the vibrant heart of Sunset Park, one of the busiest and most sought-after neighborhoods in Brooklyn, the cross streets of 8th Avenue and 55th Street. This exceptional building offers a convenient and accessible space for various businesses. With its prime location, modern amenities, and nearby facilities it presents an ideal opportunity for investors. The building is positioned in proximity to an abundance of banks, pharmacies, restaurants, supermarkets, shops, and much more. This commercial building presents an exceptional opportunity for businesses looking to establish or expand their presence in Sunset Park. With its prime location, modern features, and easy access to all nearby facilities, it offers the perfect setting for success and growth. This 4-level Commercial building was completed in 2018 and still has 21 years of TAX Abatement. The first floor is occupied by a restaurant, monthly rental is $9000 The second floor has 3 commercial spaces, each unit has approximately 500 sq ft, A law office with a monthly rental of $1957, an accountant office with a monthly rental of $2200, a vacant office was used by an Insurance Company and was rented for $1800 with a projected monthly rental of $1800-$2000. The third floor also has 3 commercial spaces. The entire floor was rented to a mortgage banker for $5900 monthly, now it’s available for rent and projected monthly rental $5900-$6000 The cellar is a Beauty Spa, monthly rental $4200 Building Size 20ft X 88 and Lost size 20 x 100, with Total 5418 sqft EXPENSES: Property tax $16,000 annually Elevator Management $240/monthly Cleaning Service $200/monthly Common Area Electric $300/monthly Projected CAP 7% with all units fully rented.