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989 Hegeman Ave
Brooklyn, NY 11208
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers & End-Users!!! 100% Occupied Free Market Mixed-Use Corner Building In Brooklyn For Sale!!!
- The Property Is Located In The Heart Of Brooklyn 1 Block Off Linden Blvd. (Rt. 27)!!!
- This Property Offers HUGE Upside Potential!!!
- The Building Features Excellent Signage, Great Exposure, 2 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R5 Zoning, (4) 2 Br. Apts., +++!!!
- Neighbors Include The Home Depot, Stop & Shop, ShopRite, CubeSmart Self Storage, L.A. Fitness, Sunoco, Dollar Tree, Wendy’s, Subway, +++!!!
- This Property Can Be Bought In Addition To 482 Atkins Avenue For Only $2.525m!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers & End-Users!!! 100% Occupied Free Market Mixed-Use Corner Building In Brooklyn For Sale!!! The Building Features Excellent Signage, Great Exposure, 2 Stores, 6 Parking Spaces, High 10’ Ceilings, Strong R5 Zoning, (4) 2 Br. Apts., Basement, LED Lighting, 200 Amp Power, A/C, +++!!! The Property Is Located In The Heart Of Brooklyn 1 Block Off Linden Blvd. (Rt. 27)!!! Neighbors Include The Home Depot, Stop & Shop, ShopRite, CubeSmart Self Storage, L.A. Fitness, Sunoco, Dollar Tree, Wendy’s, Subway, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! This Property Can Be Bought In Addition To 482 Atkins Avenue For Only $2.525m!!!
Income:
Laundromat: $48,000 Ann.
Grocery Store: (600 Sqft.): $30,000 Ann.; Lease Exp.: 5/1/29; $600 Ann. Inc.
Unit 2R (2 Br., 1 Bath): $21,600 Ann. M-M.
Unit 2L (2 Br., 1 Bath): $21,600 Ann. M-M.
Unit 3R (2 Br., 1 Bath): $21,600 Ann. M-M.
Unit 3L (2 Br., 1 Bath): $21,600 Ann. M-M.
Total Gross Rent: $164,400 Ann.
Expenses:
Gas: $2,800 Ann.
Electric: $780 Ann. (Hallway + Basement Only)
Maintenance & Repairs: $250 Ann.
Insurance: $4,823 Ann.
Water & Sewer: $2,000 Ann. (Excluding Laundromat)
Trash: $0 Ann.
Taxes: $15,973 Ann.
Total Expenses: $26,626 Ann.
Gross Income: $164,400 Ann.
Net Operating Income (NOI): $137,774 Ann. (8.62 Cap!!!)
Income:
Laundromat: $48,000 Ann.
Grocery Store: (600 Sqft.): $30,000 Ann.; Lease Exp.: 5/1/29; $600 Ann. Inc.
Unit 2R (2 Br., 1 Bath): $21,600 Ann. M-M.
Unit 2L (2 Br., 1 Bath): $21,600 Ann. M-M.
Unit 3R (2 Br., 1 Bath): $21,600 Ann. M-M.
Unit 3L (2 Br., 1 Bath): $21,600 Ann. M-M.
Total Gross Rent: $164,400 Ann.
Expenses:
Gas: $2,800 Ann.
Electric: $780 Ann. (Hallway + Basement Only)
Maintenance & Repairs: $250 Ann.
Insurance: $4,823 Ann.
Water & Sewer: $2,000 Ann. (Excluding Laundromat)
Trash: $0 Ann.
Taxes: $15,973 Ann.
Total Expenses: $26,626 Ann.
Gross Income: $164,400 Ann.
Net Operating Income (NOI): $137,774 Ann. (8.62 Cap!!!)
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,502 SF
Building Class
C
Year Built
1925
Price
$2,199,616 CAD
Price Per SF
$399.78 CAD
Cap Rate
8.62%
NOI
$189,525 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.00
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
R5
Parking
6 Spaces (1.09 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- 24 Hour Access
- Bus Line
- Corner Lot
- Metro/Subway
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 04454-0040 | Improvements Assessment | $306,283 CAD |
| Land Assessment | $25,524 CAD | Total Assessment | $331,806 CAD |
PROPERTY TAXES
Parcel Number
04454-0040
Land Assessment
$25,524 CAD
Improvements Assessment
$306,283 CAD
Total Assessment
$331,806 CAD
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