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Canarsie Corner Brooklyn Mixed Use

Listing ID: 84
Last Updated: 11 29, 2018
Property Type(s):
Property Use Type:
Contact : Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Make an offer to buy this property

Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Asking Price: $ 1,049,000Opinion of Value: $ 1,200,000
Down Payment: $ 350,000Year Built: 1920
Property Size
Existing Built Square Footage: 2,390 Sq.FtLand Plot Lot Size: 0 Acres
Lot Frontage: 24Lot Depth: 92
Number of Units: 3Percent Occupied: 100 %
Investment Type:  


1-Lichtenstein- Canarsie Corner Mixed Use Investment.pdf

Property Details

Property Description :

Property Is A 2 Story, Three Unit Mixed Use Building Located In The Canarsie Neighborhood Of Brooklyn. The Property Consists Of Two Residential Apartments Totaling 1,445 Square Feet, A 945 Square Foot Commercial Unit Plus 1 Parking Space.

Property Location :

Canarsie, Brooklyn

Highlights :

Close to the Famous Canarsie Pier.
Enjoy a day of Fishing, Kite Flying and Family Picnics at the Pier.
Easy Access to L Train, MTA B6, 17, 42, 60, 82, 103 and BM2 Buses.
Quiet Neighborhood with Safe Bikable Terrains.
Around the corner from Rockaway Parkway for Easy Shopping.

Property Financials

  Annual IncomeAnalytical Calculations
Scheduled Gross Income, Annually:$ 78,750Gross Rent Multiplier:13
Less Vacancy & Collection Loss Assumption:$ 0Capitalization Rate:5.3 %
Reimbursement:$ Cash on Cash Return: %
Other Income:0 
a. Effective Gross Income, Annualy: $ 78,760 
  Annual ExpensesAnalytical Calculations
Management: Self Managed$ 0Expenses per unit:$ 7,063
Maintenance:$ 1,650Expenses per square foot:$ 8.87
Taxes:$ 7,453Price per unit:$ 350,000
Insurance:$ 1,500Price per square foot (building):$ 439
Heating:$ 1,793Price per area of land plot:$ inf
a. Total Annual Expenses: $ 21,190 
Annual Net Financials
c. Net Operating Income, Annually$ 57,570
d. Annual Debt Service:$ 0
e. Other Annual Capital Costs:$ 0
Pre Tax Cash Flow, Annually$ 0

Financing Information

This Loan is Proposed
Principal:$ 650,000
Interest Rate:3.75 %
Loan Amortization:30 Years
Loan Term:10 Years
Annual Debt Service:$ 35,123
Description:3.75% FIXED FOR 5+5 YEARS WITH 30 YEAR AMORTIZATION SCHEDULE. For qualified Applicant and subject to change until rate locked

Tenant Information

Tenant NameLease End (i.e. mm/dd/yyyy)square feet
Lease and Escalation:
5% Annual increase, Tenant Pays 70% of Water and Sewer

Property Attachments

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ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing