Napokon, nakon više od desetljeća bez dostupnosti komercijalnih stanova uz Flatbush Avenue, prilika kuca na vrata na adresi 315 Flatbush Avenue.

Ova 1774 četvornih stopa velika kondominij, koja se prostire na više od 1000 četvornih stopa u prizemlju uz više od 700 četvornih stopa prostora za skladištenje u podrumu, sada je na tržištu nakon 20 godina kao dom UPS franšizi.

Trenutno su najamnine uz Flatbush Avenue dosljedno premašile razinu od 150 USD po četvornom stopalu. Po toj cijeni, prizemlje bi generiralo više od 150,000 USD bruto prihoda.

UPS trgovina bi željela ostati još barem 5 godina. Njihov ugovor im omogućuje opciju dodatnih 5 godina, koju žele ostvariti, ali ne spominje specifične uvjete. Ono što se prenosi je odgovornost najmoprimca za bilo koje nekretninske poreze iznad stope 2004./2005. Ako se obnovi po stopi Flavor Towna, delikatese preko ceste koja je potpisala ugovor o najmu po stopi od 143 USD po četvornom stopalu 2024. godine, tada bi financijska slika izgledala ovako:

Bruto prihod: 143,000 USD
Nekretninski porezi: 4,667 USD
CAM troškovi godišnje: 12,384 USD
Dozvola za praznine: 0 USD
Ukupni troškovi: 17,051 USD

Neto prihod: 125,949 USD

Kapitalna stopa pri 1.65M USD: 7.6%

Nije loše za kvart gdje se komercijalna imovina prodaje po kapitalnoj stopi od 5%.

Finally, after over a decade of no commercial retail condo availability along Flatbush Avenue, opportunity knocks at 315 Flatbush Avenue.

Home to a UPS franchise for two decades, this 1774 square-foot condominium, over 1000 square feet on the ground floor with over 700 square feet of basement storage, is now on the sales market after 20 years.

Presently, leases along Flatbush Avenue have consistently broken through the $150 per square foot plateau. At that price, the ground floor would generate over $150,000 gross income.

The UPS store would like to stay for another 5 years, at least. Their lease allows them an option of an additional 5 years, which they want to exercise, but it does not mention specific terms. What does carryover is the tenant responsibility for any RE Taxes above the rate of 2004/2005. If they are resigned at the rate of Flavor Town, a deli across the street which signed a $143 ppsf lease in 2024, then the financial picture would look like this:

Gross Income: $143,000
RE Taxes: $4,667
CAM Charges Annually $12,384
Vacancy Allowance $0
Total Expenses $17,051

Net Income: $125,949

Cap Rate @ $1.65M 7.6%

Not bad for a neighborhood where commercial property changes hands at a 5% cap rate.