Overview

Description

TerraCRG has been retained to exclusively represent ownership in the sale of the mixed-use building at 1195 Bushwick Avenue in the Bushwick neighborhood of Brooklyn.

The Free-Market Corner property is Lender Owned and consists of:
1.Two Free-Market Residential Units.
Each floor through unit consists of 4 bedrooms and 2 baths. Each Unit is ~1,080 SF.
2. One Corner Retail Space occupied by a Grocery Store.
3. Additional Ground Floor Space occupied by a Massage Therapy Office.

The 4,000 SF building has extremely low expenses as the property is Tax Class Protected.
The building is fully occupied except for 1 of the residential units. When projecting income for the 1 vacant residential unit, the pricing equates to a:~6.8% Cap Rate and 419/SF. There is also significant upside rent potential in the corner retail space, which is currently rented at $2,831/month. Market rent for that space is $6,000/month.

The building is ideally located a block from the Halsey Street J train station and in close proximity to all the new bars and restaurants that have recently opened to cater to the residents of the luxury rental buildings that have been built in Bushwick.

Highlights

• Free Market
• Tax Class Protected
• Low Expenses
• Lender Owned
• ~6.8% Cap Rate
• 4,000 SF
• Corner Building
• Block From the Subway

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