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$ 3,999,000
Est. payment /mo
Active
332 Kings HWY Brooklyn, NY 11223
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 979554
Rental Info No
Year Built 1936
Annual Tax Amount $27,000
Property Sub-Type Multi Family
Source onekey2
Property Description
Brooklyn's Best Corner Commercial Investment Building for Sale. Welcome to an exceptional income-producing opportunity in a Prime Bensonhurst location. This solid corner FREE MARKET brick property spans over 6,414 square feet with 3 stories, 23 feet by 93 feet long of fine colorful yellow brick and architecture & an 11-foot black entrance door to residence entry. The residential units consist of FOUR 2-bedroom renovated apartments and a 1,650 square foot first floor duplex featuring 3 bedrooms, 2 full bathrooms, 2 living rooms, 2 kitchens, a home office ideal for a virtual businessperson. Commanding a premium rental income. In addition, Store #1 is a Prime Corner KINGS HIGHWAY Hair Salon with 20 feet front & 16 feet side windows exposure. Excellent income of $5,047 per month plus Sept 2026 the real estate tax of 25% kicks in of the current then R.E. tax to be paid by the store tenant. Store #2 has an independent new storefront currently a medical billing office on the side building. The current rent is $2,912, which includes partial front half of basement. The rental income is $2,912 per month. Currently the building income is $259,008 with expenses of approximately $38,000. NOI $219,008. With moderate rent increases for next year $279,000. Easily can offer much higher potential rental income with more individuals renting in the apartments. The potential upside to building up 6-7 stories, zoning R7A-2 commercial inlay. To build condos. All functional building equipment has been replaced in the past 5 years. New - gas heating system, 43 windows, new EPDM roof, upgraded electric per apartment, hallway painted, brick pointing, steam cleaning, outside concrete. For investors seeking a stable investment with dependable rents and low building maintenance, this is an opportunity worth considering. Owner will consider holding some financing.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Finished, Full
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features None
Utilities Available See Remarks
Building
Story 3
Sewer Other
Water Other
Structure Type Block,Brick
Others
Special Listing Condition None
Listed by RE/MAX Edge • Michael E. Napolitano
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