Bensonhurst Commercial Property- The price is reduced by $350,000 from original $2,000,000. SELLING AS IS> with a few violations. The potential annual income $155,000 LESS $26,665. OPERATING EXPENSES = NET OPERATING INCOME. POTENTIAL CAP RATE .077% The seller will hold mortgage with 50 % down payment. Prime Kings Highway Location opposite the N train and B-82 Bus. Excellent Commercial mix use investment property. The C Of O is Lounge/Restaurant/Bar ( 2440 square feet + basement ). The restaurant tenant currently has a Liquor license and it is a restaurant. plus 3 units .There are 2 apartments ( 2 bedrooms each ) $1545. & $ 1600. no lease, and the third unit is classified as Club on the C of O. and to make the 2 bedroom apartment legal ,facing 2nd floor front 700 square feet which can generate additional income. A prospective buyer may consider to extend each apartment to 3 to 4 bedroom apartments for each. The two units are from the main entrance on Kings Highway and there is a back entrance for the one rear 2 bedroom apartment from the back of the building with address 150-154 Quentin Road. The restaurant is 2440 square feet with a back entrance for deliveries and 2000 sq ft full basement. Total square footage on the 2nd floor is 2440. Expenses $26,665. year Additional potential rental of $1,500.00 per month income ( $18,000. annual ) can be generated by leasing advertisement space on both side walls with East and West exposure facing Kings . The current restaurant tenant is paying $ 4,637. 00 + 50 % real estate tax & water . The lease expires 11/30/2021. The FAIR MARKET RENT CAN BE increased to $ 6500. per month ( an additional $ 1,863. per month or ( $ 22,356. Annual ) when the restaurant is vacated. BUYER IS TO DO DUE DILIGENCE BEFORE CONTRACT . THE SELLER will hold A MORTGAGE.at current bank rates and a term to be negotiated. Buyer must verify all information prior to purchasing and is subject to errors and omission.

Building type: Semi-Detached

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263 Kings Hwy, Brooklyn, NY 11223

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