About 268 Bay Ridge
Investor's Delight!!! Introducing the new construction units with two commercial stores, one community facility plus ten indoor parking spots for sale as a package deal in Bay Ridge. Store #S1 which is 2970 sqft and is current leased as a Tae Kwon Do school which is paying $5,227 monthly, common charge of $959.68 and property tax $7,347.44. Store # S2 which is 2,292 sqft and is a bakery, it pays $3,500 with 3% yearly increase, common charge $751 and property tax $5,761 yearly. Store #CF which is 1200 sqft, it is renting as a storage, it pays $2,060, common charge $289 and property tax $771 yearly. Triple net leases for store # S1, S2 and #CF. The seller is collecting $3,360 from ten indoor parking spots, pays $743 yearly for common charges for ten parking spot and property insurance premium of $3,050 only. Total yearly expenses for the seller is $4,103 ONLY. The building is generating net yearly income of $164,291 which is 5% cap rate. The seller is willing to offer owner's financing with 35% and up as the down payment. Start making income as soon as you close the deal.
