VACANT, TWO-STORY MIXED-USE BUILDING/ funeral home, FOR SALE for $3.2M

TWO STORY MIXED-USE BUILDING FOR SALE
EXCELLENT INVESTMENT/DEVELOPMENT OPPORTUNITY
VACANT
OPPORTUNITY ZONE

Location:
North side of Park Avenue between N Oxford Street and Cumberland Street
Block:
2029
Lot:
53
Lot Size:
19’ x 95’
Building Size:
Lower Level: 19’ x 46’ irr = 892
First Floor: 19’ x 46’ irr = 892
Stories:
Second Floor: 19’ x 46’ irr = 892
Two (2)
Gross Square Feet:
2,676 (Approximately)
Zoning: (FAR)
Total Buildable Square Feet:
R6: (2.43) Height Limit 60’
4,561
Total Available Air Rights:
1,885
Assessment:
Real Estate Taxes:
$204,390 (23/24)
$21,649.00
Description:
A 19’ wide one-unit, two story mixed-use building. The building is occupied by Park Avenue Funeral Home. They use the lower level, which has the lounge, two half bathrooms and access to the backyard. The first floor has the front office, to the back is the chapel. There is also storage space at the back of the chapel. The second floor is a one-bedroom floor-through apartment. The unit has a front bedroom, middle dining room, back living room a full kitchen and bathroom.
The property has been well kept and is in good condition. The funeral home has nice brick façade, also the lounge expose brick on the inside. The chapel has beautifully carpeting, with 12’ ceilings. The one-bedroom apartment has nice wood floors, a skylight in the kitchen and get good sunlight.
The property is a nice investment opportunity, an investor can rent out the second floor and rent the lower level and first floor to a retail store or community facility.
The building is also a good development opportunity, a developer can add another two floors and convert the building into a mixed-use four family.
The property is located close to the Brooklyn Navy Yard, DUMBO and trains G, 2, 3, N, R, and W is within walking distance. Downtown Brooklyn is nearby which has the Barclay Center and brand restaurants and retail stores.
Income:
Unit Description Unit Type Projected Lse
1st Fl & Funeral Commercial $6,250 Owner
Lower Level:
2nd Fl: 1 1 Bd Apt Free Market $2,500 Owner
Projected Monthly Income: $8,750
Projected Annual Income: $105,000
Expenses:
Real Estate Taxes:
$21,649.00
Water & Sewer:
$3,200.00
Insurance:
$3,400.00
Heat (Gas):
$3,200.00
Electric: (common areas)
$1,200.00
Repairs & Maintenance:
Total Annual Expenses
$2,800.00
$35,449.00
Net Operating Income: $69,551
ASKING PRICE: $3,200,000
For Further Information or Inspection, Please Contact Sales Agent:
Kervin Vales (212) 396-8244