1341 Fulton Street is a fully occupied corner mixed-use building on one of Brooklyn's most bustling commercial corridors, offered at a 6.5 percent cap rate with strong in-place cash flow and meaningful unused air rights. The commercial space is a ground-floor corner storefront spanning 1,000 SF wit h an… Read More additional 1,000 SF basement - currently occupied by an established business with over a decade of continuous operation at this location. The commercial lease carries 3 percent annual rent escalations. Three residential apartments occupy the upper floors: a 1-bedroom duplex, a junior one-bedroom, and a studio. Renters pay their own heat, keeping operating costs lean and NOI strong. Gross annual income of $162,820 supports a net operating income of approximately $148,726 after real estate taxes, insurance, water and sewer, and BID charges. The property is self-managed with no current vacancy. Located at the corner of Fulton Street and Verona Place, the building benefits from high pedestrian and vehicular visibility in both directions. Transit access is exceptional: The LIRR is two blocks away; the A/C express at Nostrand Avenue is one block . Unused FAR under R7D/C2-4 zoning presents a clear path to expansion for an owner-user or long-term hold investor. The property is well suited for a 1031 exchange. All information deemed reliable but not guaranteed. Prospective purchasers are advised to independently verify all figures. Read Less
Listing Courtesy of: LAURENCE B WOHLGEMUTH, Douglas Elliman Real Estate
Listing Snapshot
Days Online
8
Last Updated
Property Type
MixedUse
Beds
2
Full Baths
3
Partial Baths
1
Square Ft.
1,000
Lot Size
0.04 Acres
Year Built
1910
MLS Number
RLS20092177
30 Days Snapshot Of 11216
$2.15M
0%
(avg) sold price
0
-100%
homes sold
Snapshot
Area Map
Additional Details
Basement
Basement YN: t
Building
Entry Level: 1, Features: GreenBuilding, Living Area Units: SquareFeet, Rooms Total: 11, Structure Type: MixedUse
Information herein is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by Coldwell Banker Warburg. If you have any questions regarding the accuracy of this data, please contact us at [email protected]. Data updated:
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