7026 3Rd AveBrooklyn, NY 11209

Property Details for 7026 3Rd Ave

Year built

2015

Lot size

0.05 AC

Property size (Sq ft)

4,800 SF

Zone code

R6B

Property type

Investment properties

Property subtype

Live-work space

APN

05886-0046

APU

58860046

Description

This exceptional commercial property located at 7026 3rd Avenue in Brooklyn, New York, presents a unique investment opportunity. The property is a retail space currently operating as a successful Szechuan Asian Cuisine restaurant. The building encompasses a total of 3,600 square feet, with 1,200 square feet on the main level and an equally sized basement. The lot size is 2,000 square feet. The restaurant boasts a gross annual income of approximately $1 million. Current rent is $6,000 per month, with the tenant responsible for 15% of the property taxes. The asking price for this turnkey operation is $160,000. The landlord is prepared to sign a new 5-year lease with a qualified buyer. This is an ideal opportunity for an experienced restaurateur or investor seeking a profitable, established business in a vibrant Brooklyn neighborhood. The property consists of one unit and features a ceiling height that is described as "Other" in the provided documentation. The zip code is 11209, and the property is situated in Kings (Brooklyn) County. This listing presents a rare chance to acquire a well-established and profitable restaurant with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $793,583

  6.5%

  $732,538

  7%

  $680,214

• Comparable approach

  Method

  Valuation

  Relative Method

  $627,168

  Geo Method

  $627,168

• Alternative Use

  Use

  Valuation

  Residential

  $908,348

  Hospitality

  $832,042

  Educational

  $692,249

  Medical

  $716,056

  Retail

  $1,076,832

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6344

Longitude

-74.0269

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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