MLS® ID: CORC-5588678

6516 18th Avenue

Brooklyn, New York, 11204

$2,988,888 Active
  • - SQFT
"Location, Location, Location!!!" has never been more apt. This Mixed Use building is sitting on the busiest junction in Bensonhurst, 18th avenue and 65th street, and has extremely rare C4-2 zoning.Presently, the building features a store and 2 residential units, fully occupied with below-market residential rents allowing for great upside. The store underwent serious renovation last year by a national tenant and has 19 years left of a 20-year lease in place with above-average annual rent escalations, topping out at 6% over the last five years, and strong financials to back it up. The two residential units are a 2 bedroom and a 1 bedroom with both tenants in good standing. Most desirable, however, is the C4-2 zoning, which allows for 5610 sq ft of buildable on the lot, far above neighboring properties. Coupled with the rent escalations built into the commercial lease, the potential of redevelopment makes this property extra appealing.Taxes are $16,360 annually, partially supported by the commercial tenant, and expenses are very low.This is a co-exclusive listing between Corcoran and Douglas Elliman. Buyers Brokers must CYOF. Please contact us for more details.
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Listing courtesy of The Corcoran Group

Amenities

  • Zip
    11204
  • Office name
    The Corcoran Group
  • Bedrooms
    0
  • Property type
    Commercial
  • Year built
    1920
  • Agent name
    Dan Brady
  • Tax amount
    $ 1363.33
  • Purchase Type
    Active
  • HOA fees
    $ 1363.33
  • Full baths
    0
  • Rent
    No
  • Furnished
    Unfurnished

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