1435 86Th StBrooklyn, NY 11228

Property Details for 1435 86Th St

Year built

1962

Lot size

0.28 AC

Property size (Sq ft)

11,290 SF

Zone code

R4

Property type

Office buildings

APN

06340-0060

APU

63400060

Description

This exceptional two-story medical office building, situated at 1435 86th Street in Brooklyn, New York, presents a compelling investment opportunity. The 11,290 square foot property, built in 1962 and situated on an 11,999 square foot lot, boasts a strong 6.85% cap rate and is currently 100% occupied. The building features a newly renovated interior (2019), a brand new roof, and a new HVAC system. A brand new elevator services all floors, from the lower level to the top floor. The property is zoned R4/C2-2. The primary tenant, Davita, holds a 15-year lease (NNN) with a January 31, 2038 expiration date, including two five-year options. This lease includes 10% rent increases every five years and is corporate guaranteed. Davita is also responsible for 100% of snow removal. An existing financing option of $7,950,000 at 3.74% interest is available, expiring in May 2030 with a February 2025 payment. A separate parking contract, costing $18,360 annually with a 2% annual increase, is also in place. Floor plans are available upon request. The asking price for this core+ investment is $15,250,000. This property offers a stable, high-return investment with a long-term, secure tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $2,216,532

  6.5%

  $2,046,030

  7%

  $1,899,885

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,475,151

  Geo Method

  $1,475,151

• Alternative Use

  Use

  Valuation

  Residential Income

  $2,537,077

  Hospitality / Lodging

  $2,323,949

  Institutional / Educational

  $1,933,498

  Healthcare / Senior Housing

  $1,999,994

  Retail / Commercial

  $3,007,664

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6124

Longitude

-74.0105

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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