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Property Description

OVER 7.4 PERCENT RATE OF RETURN. Exceptional Investment Opportunity in Prime Bayridge Location Portfolio listing consisting of 2 buildings 9404 and 9406 with a fully functional restaurant space. A Rare and unmatched investment opportunity in Bayridge, steps from the R train on 4th Ave. An outstanding 7.6% cap rate including a restaurant generating a gross annual income in excess of 2 million. Residential: – The 2 buildings generate net annual gross income of 345,000 (145,000 from the rental units and 240,000 from the restaurant space). – Comprising of 6 free-market rental units (fully occupied with month-to-month leases) and a fully operational restaurant. – Every apartment is individually metered for electric, the Penthouses have their own boiler, heat and washer/dryer. – 2 leases end October "25 for 9406; rest on a month-to-month basis. Commercial space: Steak & Ale House – This profitable restaurant generates over 2 million in gross annual revenue. – 110-seat dining area, 20-seat bar, 50-seat banquet room. – 4059 sf above grade; 4059 sf below grade. Fully vented with liquor license. – Below grade space has 5 walk-in refrigerators, prep area, ovens, receiving area, storage- Liquor dry wet goods etc; 6-8ft ceiling height. – Open for lunch and dinner, 6 days a week, liquor license and banquet facility. – High Potential to add breakfast and brunch services, take-out options, increase dining hours, increase banqueting services and open 7 days a week. – Prospective investor can rent the restaurant for 20,000- 25,000 month 46/sf 8/sf below grade NNN. – Presently operated by the owners, the fully operational business can also be bought out. Inquire for pricing. Key Features: Lot Dimensions: bldg 9404: 19.5 ft x 96.5 ft ; bldg 9406: 19.5 ft x 107.58 ft Building Dimensions: bldg 9404: 19.5 ft x 63 ft ; bldg 9406: 19.5 ft x 63 ft Total square footage as built: 8,987 sq ft Available Air Rights: 3,190 sq ft. Total Apartments: 6 (3 per building; All Free Market) Commercial Units: 1 (Fully operational restaurant) Zoning: R6A, C2-3, BR Stories: 3 Current Layouts of combined lots: 3rd Level: Conv 4BR/2BA mud room Washer dryer; 3BR/2BA washer dryer. Both with skylights. 2nd Level: 4 four 1BR/1BA apartments. 1st Level: Fully operational restuarant with liquor license and banquet facilities. Basement: Equipped with prep areas, walk in cold storage, and office space. Roof Access: Yes. Tax Information: Total Taxes: 30,472.60 annually. Please email for pro forma. rg@bhsusa. com.

Fort HamiltonNew York
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USA
NY
Fort Hamilton
11209
11209
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9404 -9406 4th Avenue

Fort Hamilton, New York, 11209, United States

11 Bedrooms
8 Bathrooms
$4,500,000
Listing ID #1892328
Basic Details
Property Type : Residential
Listing Type : For Sale
Listing ID : 1892328
Ref ID : 216517
Price : $4,500,000
Bedrooms : 11
Bathrooms : 8
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