EXCLUSIVE OFFERING MEMORANDUM 88 9th Street Gowanus, Brooklyn · 2020-05-14 · 88 9th Street...
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EXCLUSIVE OFFERING MEMORANDUM 88 9th Street Gowanus, Brooklyn WESTBRIDGE REALTY GROUP | 152 MADISON AVENUE, SUITE 202 | NEW YORK, NY 10016 | WWW.WESTBRIDGE-RE.COM $9,000,000 ASKING PRICE $203 PER SF 44,400 SQUARE FEET 6.96% CAP RATE 88 9th Street
Transcript of EXCLUSIVE OFFERING MEMORANDUM 88 9th Street Gowanus, Brooklyn · 2020-05-14 · 88 9th Street...
EXCLUSIVE OFFERING MEMORANDUM
88 9th Street Gowanus, Brooklyn
WESTBRIDGE REALTY GROUP | 152 MADISON AVENUE, SUITE 202 | NEW YORK, NY 10016 | WWW.WESTBRIDGE-RE.COM
$9,000,000ASKING PRICE
$203PER SF
44,400SQUARE FEET
6.96%CAP RATE
88 9th Street
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EXCLUSIVE AGENTSDavid MarcianoOffice: 212.658.0793 Cell: [email protected]
EXECUTIVE SUMMARY Westbridge Realty Group is pleased to announce the sale of 88 9th Street, a 222’ x 200’ lot in the Gowanus section of Brooklyn. The site contains 44,400 square feet with 300 units of self storage and a U-Haul franchise grossing $902,345 of annual income, all paying month to month.
The property is located directly under the F and G subway line, and is also walking distance to the R subway train.
88 9th Street Gowanus, Brooklyn 88 9th Street Gowanus, Brooklyn
152 Madison Avenue | Suite 202 | New York, NY 10016 | (212) 658-0793 | Westbridge-Re.com2 88 9TH STREET 3
88 9th Street Gowanus, Brooklyn
PROPERTY INFORMATION
ADDRESS 88 9th Street LOT AREA ±44,400 SF
CITY, STATE, ZIP Brooklyn, NY 11215 UNITS 300 Units of Self Storage
NEIGHBORHOOD Gowanus ZONING M2-1
BLOCK/LOT 1007 / 20 FAR 2
LOT SIZE 222 ft. x 200 ft. REAL ESTATE TAXES $19,728
88 9th Street Gowanus, Brooklyn
STORAGE + PARKING $752,309
U-HAUL $150,036
EFFECTIVE GROSS INCOME $902,345
GROSS EXPENSESGROSS EXPENSESMONTHLY ANNUAL
REAL ESTATE TAXES $1,644 $19,728
ELECTRIC $672 $8,065
GUARD $2,800 $33,600
EMPLOYEE $16,375 $196,500
TIME WARNER $284 $3,409
TELEPHONE $166 $1,987
INSURANCE $1,085 $13,019
TOTAL EXPENSES $23,026 $276,309
NET OPERATING INCOMENET OPERATING INCOMENET OPERATING INCOME $626,036
ASKING PRICE $9,900,000
CAP RATE 6.32%
PRICE PER SF $223 / SF
RENTAL INCOMERENTAL INCOME
INCOME & EXPENSES
88 9th Street Gowanus, Brooklyn 88 9th Street Gowanus, Brooklyn
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88 9th Street Gowanus, Brooklyn
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SLOP STORAGE
88 9th Street Gowanus, Brooklyn
ROW DIMENSIONS
100 5 X 10
200 5 X 5
300 5 X 5
400 10 X 10
500 5 X 10
600 5 X 5
700 5 X 5
800 5 X 10
900 10 X 10
1000 10 X 10
1100 5 X 10
1200 5 X 10
1300 5 X 10
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88 9th Street Gowanus, Brooklyn
88 9TH STREET 5
88 9th Street Gowanus, BrooklynAERIAL
88 9TH STREET 6
7 88 9TH STREET 3152 Madison Avenue | Suite 202 | New York, NY 10016 | (212) 658-0793 | Westbridge-Re.com
DISCLAIMERThis Offering Memorandum has been prepared exclusively by Westbridge Realty Group, on behalf of the Owner, regarding the purchase of the property described herein at 88 9th Sreet, Brooklyn, NY. The materials and information contained in this Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire.
The information contained herein has either been given to us by the Owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. The prospective buyer should carefully verify each item of income, and all other information contained herein.
No inspections of the Property are permitted unless accompanied by the Owners or a representative from Westbridge Realty Group.
88 9th Street Gowanus, Brooklyn
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88 9th Street Gowanus, Brooklyn
