CORNER COMMERCIAL BUILDING CAN BE DELIVERED VACANT OR OCCUPIED
We are pleased to offer for sale 1080 Utica Avenue. This 10,000 SF, 2-story, corner, commercial building is located along major, heavily trafficked Utica Avenue in East Flatbush. There are currently 6 spaces in the building which a new owner could keep as-is and use as an easy investment property with in-place cashflow of $186k from Day 1 (a 6.2% cap rate) or which an end-user could combine or subdivide as they saw fit for their own business uses. This building has had major capital work done in the last 5 years - all 3 roofs have been fully replaced and all 3 warranties will be delivered to new owner at closing. The exterior façade has also been fully resealed and with waterproof sealant to prevent water intrusion. In addition, ownership just installed a brand new commercial HVAC condenser on the roof last year. This building has no violations and a long history of good tenants and on-time rental payments. The 2nd floor is 3500 SF and is comprised of one commercial space currently in use by the church. The 1st floor is comprised of 6 spaces, 5 of which have retail frontage along Utica Avenue and Beverly. This building is one of the few in the area with retail space and has a long history of being very easy to lease (owners have never had to market vacancies, they were always taken by word of mouth when it became clear tenants were moving out). This building is free of violations, has been well maintained, has a strong rental history and will provide strong returns for an investor or an excellent space to an end-user.
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