Finalman, apre plis pase yon dekad san okenn kondominyòm komèsyal disponib sou Flatbush Avenue, opòtinite frape nan 315 Flatbush Avenue.

Kay pou yon franchise UPS pandan de deseni, kondominyòm sa a ki gen 1774 pye kare, plis pase 1000 pye kare nan premye etaj la ak plis pase 700 pye kare nan depo anba tè, kounye a sou mache vann apre 20 an.

Kounye a, kontra yo sou Flatbush Avenue te sistemi brese plis pase nivo $150 pou chak pye kare. Nan pri sa a, premye etaj la ta pwodwi plis pase $150,000 revni brit.

Magazen UPS la ta renmen rete pou 5 ane ankò, omwen. Kontra yo pèmèt yo yon opsyon pou 5 ane anplis, ke yo vle egzekite, men li pa mansyone tèm espesifik. Sa ki pase, se responsablite lokatè a pou nenpòt taks RE ki depase to 2004/2005. Si yo renouvle nan to Flavor Town, yon deli atravè lari a ki siyen yon kontra $143 ppsf nan 2024, Lè sa a, foto finansye a ta sanble konsa:

Revni Brit: $143,000
Taks RE: $4,667
Kout CAM Anyèl $12,384
Alokasyon Vide $0
Total Depans $17,051

Revni Nèt: $125,949

To Kapital @ $1.65M 7.6%

Pa twò mal pou yon katye kote pwopriyete komèsyal chanje men ak yon to kapital 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.