JLL, as exclusive agent, has been retained to sell 2043 Atlantic Avenue, a three-story mixed used building in Ocean Hill, Brooklyn ~ Property Financials ~ Gross Income: $115,562 Expenses: $18,977 Net Operating Income: $96,585 Cap Rate: 6.44% Asking Price: $1,500,000 ~ Property Description ~ The corner commercial unit is occupied by the Lisa S. Dozier Funeral Merchandise Boutique, which was recently renovated. It occupies approximately 1,200 square feet and pays $3,675/month with five percent increases every year. The tenant is liable to pay for 33% of the water/sewer and heat bills, as well as 33% of real estate tax increases. The second commercial unit is approximately 400 square feet and the tenant pays $1,300/month with five percent yearly increases. Here, the tenant is responsible for 17% of real estate tax increases, as well as 17% of the water/sewer bill. The two apartments, approximately 1,000 square feet each, including bedrooms and common areas, rent for $2,559/month and $2,394/month. 2043 Atlantic Avenue is conveniently located next to several points of public transportation including the A and C trains at Rockaway Avenue and the A,C, J, Z & L trains at Broadway Junction. These stations provide direct access to Downtown Brooklyn and Manhattan in 20-30 minutes. This is a great opportunity to acquire a stable, cash-flowing asset with new gas boiler in the center of a rapidly growing neighborhood.
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