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266 SARATOGA AVE, BROOKLYN, NY, 11233

266 SARATOGA AVE
$1,250,000

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Highlights

INVESTMENT HIGHLIGHTS

  • Value-Add: Property in need of full gut renovation.
  • Fully Free Market: The property is fully free market, allowing future ownership to capitalizeon neighborhood improvement.
  • Owner-User Potential: Retail unit will be delivered vacant, presenting an attractive owneruseropportunity.
  • 117 Feet of Wraparound Frontage: Corner retail exposure on Atlantic Avenue, with over 29,000 vehicles per day.
  • Protected Tax Class: Tax Class 1 limits tax increase to no more than 6% per year or 20% over 5 years.
  • Public Transportation: Close proximity to Ralph Ave C Train, and within a few blocks of the L, A, C, J & Z train lines at Broadway Junction, with direct access to Bushwick, Downtown Brooklyn, the Rockaways, and Jamaica, Queens.
  • Basis: At the asking price of $1,250,000, the price per square foot equates to $279, well below average for free market product.
  • Fully Built out Retail: Extension has 750 square feet of vacant storage that can be utilized or repurposed for additional cashflow.

Location

Agents

Broker of Record

Cory Rosenthal

License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203

Key Information

$ per SF
$279
Units
3
Type
Apartments