3902-3910 Church Avenue, Brooklyn, NY 11203 · Brooklyn, NY 11203 Presented by Asset Commercial...

3902-3910 Church Avenue, Brooklyn,

NY 11203

6 Tenant Retail Building

Signalized Intersection

Building Size of 8,750 SF

100% Occupied

7.23% CAP Rate

Leasehold Interest with

43 years remaining

NOI: $140,987.08

ASKING PRICE:

$2,100,000

http://www.assetcrg.com/

3902-3910 Church Avenue,

Brooklyn, NY 11203

Presented by Asset Commercial Realty Group, LLC

A Full Service Commercial Real Estate Company

Confidentiality Disclaimer

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended

to be reviewed only by the party receiving it from Asset Commercial Realty Group, LLC (“AssetCRG”) and should

not be made available to any other person or entity without the written consent of AssetCRG. This Marketing

Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to

establish only a preliminary level of interest in the subject property. The information contained herein is not a

substitute for a thorough due diligence investigation. AssetCRG has not made any investigation, and makes no

warranty or representation, with respect to the income or expenses for the subject property, the future projected

financial performance of the property, the size and square footage of the property and improvements, the

presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal

regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of

any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information

contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however,

AssetCRG has not verified, and will not verify, any of the information contained herein, nor has AssetCRG

conducted any investigation regarding these matters and makes no warranty or representation whatsoever

regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate

measures to verify all of the information set forth herein.




Brooklyn, NY 11203



Investment HighlightsAsset Commercial Realty Group has been exclusively

retained to market the leasehold interest in 3902

Church Ave, Brooklyn NY, a fully leased Retail Building

in the East Flatbush neighborhood of Brooklyn.

The building, constructed in 2011, spans a total of 6,300

SF on a 8,750 SF lot. The property is situated on a

square lot providing huge visibility to all tenants on

major avenue and street: East 39, Church Avenue.

The property includes car parking spots in the front.

The entire building is 100% leased to 6 retail Tenants.

All tenants have built in 3% annual increases with

reimbursement for Real Estate Taxes of the Base Year

of their Lease.

The building is well positioned with great access to

public transportation. Its near many public and

express buses, and highways. Church Avenue bustles

with many retailers with a great amount of foot and

car traffic.

Collectively, the asset produces a Net Operating

Income (NOI) of $140,987.08. Ownership has set the

asking price at $2,100,000 which reflects a 7.23% CAP

rate or $333 PSF.

There are a total of 43 years remaining on the ground

lease.

Site




Brooklyn, NY 11203



Financial Overview & Lease Analysis

Financial Analysis

Address

3902 Church Avenue,

Brooklyn, NY 11203

3210 Church Avenue,

Brooklyn, NY 11203

Section/Block/Lot 4893/1 4893/5

Town/City Brooklyn / East Flatbush

Cross Streets 39th Street and Church Avenue

Lot Size 50 X 100 37.5 X 100

Lot SF 5,000 3,750

Building Size 50 X 6744 X 67

Building SF 3,351 2,948

Number of Stories One

Zoning R5, C2-2

Building Analysis

Annualized Operating Data

Scheduled Income $ 261,649.32

Tax Recapture $ 32,015.76

Recapture CAM $ 7,335.96

Gross Operating Income $ 301,001.04

Annualized Expenses

Ground Lease $ 98,880.00

Real Estate Taxes $ 43,188.00

Insurance $ 4,000.00

Snow Removal/Cleaning $ 3,000.00

Total Expenses $ 149,068.00

Net Operating Income $ 140,987.08

Price $2,100,000 / 7.23% CAP




Brooklyn, NY 11203



Rent Roll

Tenant Name End Date S.F. Annual Rent S.F. Annual Rent Recapture CAM

Recapture Taxes

Escallations / Options / Comments

Dance School Aug-20 1,000 $ 24.02 $ 30,000.00 $ - $ - Next Increase on 9/2018 by 3%. Responsible for Pro-Rata Share of

increases in Taxes. One 3 year Option.

Metro PCS Apr-22 900 $ 31.01 $ 36,000.00 $ 2,100.00 Next Increase on 5/2019 by $250. Responsible for Increases in Taxes.

Pharmacy May-26 900 $ 32.87 $ 38,192.40 $ 1,800.00 $ 6,870.60 Rent Increases on 6/2019 by 3%. Responsible for Pro-Rata Share of Taxes

and CAM. One 5 year Option.

Nail Salon Apr-22 900 $ 35.92 $ 41,733.96 $ 4,912.80 Rent Increases on 5/2016 by 3%. Responsible for Increases in Taxes

Kings Army Ministries (Church) Jan-19 1,000 $ 27.94 $ 39,338.16 $ 1,920.00 $ 3,000.00 Responsible for Increases in Taxes and CAM

Medical Office Oct-18 1,600 $ 27.94 $ 76,384.80 $ 3,615.96 $ 15,132.36 Rent Increases on 11/2015 by 3%. Responsible for Pro-Rata Share of CAM

& Taxes

Total 6,300 $ 29.90 $ 261,649.32 $ 7,335.96 $ 32,015.76




Brooklyn, NY 11203



Map




Brooklyn, NY 11203



Pictures




Brooklyn, NY 11203



Aerial



PLEASE CONTACT EXCLUSIVE ADVISOR:

Albert AranbaevManaging Principal

[email protected]: (212) 918-9037Mobile: (718) 551-7746

Broker Cooperation is Welcome!

3902-3910 Church Avenue, Brooklyn,

NY 11203

6 Tenant Retail Building

Signalized Intersection

Building Size of 8,750 SF

100% Occupied

7.23% CAP Rate

Leasehold Interest with

43 years remaining

NOI: $151,933.04

ASKING PRICE:

$2,100,000

mailto:[email protected]

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