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New Village Building 222 E 51st St 9,000 SF 100% Leased Retail Building Brooklyn, NY 11203 $5,399,667 CAD ($599.96 CAD/SF) 6.59% Cap Rate
Investment Highlights
- 40,000 Cars Per Day on Clarkson Ave and 60,000 Cars Per Day at Utica Ave
- Fully Renovated, New Boilers, New Windows, New Wood Floors, New 90 Min Doors etc......
- Corner Lot
Executive Summary
Fully Renovated Mixed-Use Property for Sale – 850 Clarkson Ave This turnkey, property is an exceptional investment opportunity, delivered fully occupied for immediate cash flow. Residential Units Total of four modern apartments: (2) four-bedroom units (2) two-bedroom units. Each unit equipped with its own dedicated boiler for independent heating. All residential tenants guaranteed by the Section 8 program, ensuring stable, government-backed rental income. Commercial Space Street-level store fronts, fully renovated. Separate utilities for commercial tenants Investment Highlights, NOI: $257,000. Owner pays only for water and common area electricity. Updated systems throughout: plumbing, electrical, and heating. High rental demand in a rapidly developing neighborhood Strong Future Growth Potential.
The property is located near major developments that will add over 1,000 new residential units within a 2-mile radius by 2026:
329 Clarkson Ave (Clarkson Estates): 328 units, under development.
564 Utica Ave (Utica Crescent): 325 units, under development.
406 Remsen Avenue: 96 units, under development.
407 Remsen Avenue: 56 units, under development. ETC…….
These projects are expected to further boost local demand and long-term value.
The property is located near major developments that will add over 1,000 new residential units within a 2-mile radius by 2026:
329 Clarkson Ave (Clarkson Estates): 328 units, under development.
564 Utica Ave (Utica Crescent): 325 units, under development.
406 Remsen Avenue: 96 units, under development.
407 Remsen Avenue: 56 units, under development. ETC…….
These projects are expected to further boost local demand and long-term value.
Data Room Click Here to Access
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,000 SF
Building Class
C
Year Built/Renovated
1931/2018
Price
$5,399,667 CAD
Price Per SF
$599.96 CAD
Cap Rate
6.59%
NOI
$355,824 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.44
Lot Size
0.06 AC
Zoning
R6 Brooklyn (S9) - Located in the Prospect Lefferts Garden neighborhood of Brooklyn between E 51st Ave & Utica Ave near the Sutter Ave - Rutland Rd subway station.
Frontage
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04637-0010 | Total Assessment | $535,020 CAD (2026) |
| Land Assessment | $104,032 CAD (2026) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $430,988 CAD (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
04637-0010
Land Assessment
$104,032 CAD (2026)
Improvements Assessment
$430,988 CAD (2026)
Total Assessment
$535,020 CAD (2026)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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Presented by
Nixon Izgel
New Village Building | 222 E 51st St
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