Ní ikẹhin, lẹhin ọdun mẹwa ti ko si ohun elo ile-itaja ti iṣowo ni Flatbush Avenue, anfani ti wa ni 315 Flatbush Avenue.

Ibi ti UPS franchise ti wa fun ọdun mewa, condominium yii ti o ni square-foot 1774, ju 1000 square feet lo lori ilẹ, pẹlu ju 700 square feet ti ipamọ ni basement, ti wa ni ọja tita lẹhin ọdun 20.

Lọwọlọwọ, awọn ijikọ ni Flatbush Avenue ti wa ni nigbagbogbo n bọ si oke $150 fun square foot. Ni idiyele yẹn, ilẹ ilé yoo ṣe agbejade ju $150,000 owo-wiwọle.

Ibi itaja UPS fẹ lati duro fun ọdun marun miran, o kere ju. Iwe-aṣẹ wọn fun wọn ni aṣayan ọdun marun afikun, eyiti wọn fẹ lati lo, ṣugbọn ko darukọ awọn ofin pato. Ohun ti o wa ni ipamọ ni ojuse olugbe fun eyikeyi owo-ori RE loke oṣuwọn ti 2004/2005. Ti wọn ba ni iwe-ẹri ni oṣuwọn Flavor Town, deli ti o wa kọja ita ti o fowo si iwe-aṣẹ $143 ppsf ni 2024, lẹhinna aworan owo yoo dabi eleyi:

Owo-wiwọle: $143,000
Owo-ori RE: $4,667
Iwọn ilẹ CAM lododun: $12,384
Iye to wa fun ibẹ: $0
Gbogbo inawo: $17,051

Owo net: $125,949

Iye Ipin @ $1.65M 7.6%

Kò buru fun agbegbe ti ibi ti ohun-ini iṣowo ti n yipada ni oṣuwọn ipin 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.