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6516 18th Ave |Bensonhurst
$2,988,888
Studio
Time on market: 379 days
Taxes/Maintenance: $0
Property type: Rental
Courtesy of The Corcoran Group
"Location, Location, Location!!!" has never been more apt. This Mixed Use building is sitting on the busiest junction in Bensonhurst, 18th avenue and 65th street, and has extremely rare C4-2 zoning. Presently, the building features a store and 2 residential units, fully occupied with below-market residential rents allowing for great upside. The store underwent serious renovation last year by a national tenant and has 19 years left of a 20-year lease in place with above-average annual rent escalations, topping out at 6% over the last five years, and strong financials to back it up. The two residential units are a 2 bedroom and a 1 bedroom with both tenants in good standing. Most desirable, however, is the C4-2 zoning, which allows for 5610 sq ft of buildable on the lot, far above neighboring properties. Coupled with the rent escalations built into the commercial lease, the potential of redevelopment makes this property extra appealing. Taxes are $16,360 annually, partially supported by the commercial tenant, and expenses are very low. This is a co-exclusive listing between Corcoran and Douglas Elliman. Buyers Brokers must CYOF more
AMENITIES

No Pets Allowed
Pre-War Building
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MORTGAGE CALCULATOR

Sale Price
Down Payment
%
Mortgage Payment:
Common Charges & Taxes: $0

Total Monthly Payment:
Mortgage Amount $2,391,110
Term
30 Year Fixed
Rate
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