315 Flatbush Avenue #2, Brooklyn, NY 11217
Local realty services provided by:CENTURY 21 Awaye Realty
315 Flatbush Avenue #2,Brooklyn, NY 11217
$1,650,000
- - Beds
- 2 Baths
- - sq. ft.
- Condominium
- Active
Listed by: dan p brady
Office: corcoran group
MLS#:RLS20100599
Source:NY_REBNY
Price summary
- Price:$1,650,000
About this home
Finally, after over a decade of no commercial retail condo availability along Flatbush Avenue, opportunity knocks at 315 Flatbush Avenue. <br> <br> 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. <br> <br> 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. <br> <br> 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: <br> <br> Gross Income: $143,000 <br> RE Taxes: $4,667 <br> CAM Charges Annually $12,384 <br> Vacancy Allowance $0 <br> Total Expenses $17,051 <br> <br> Net Income: $125,949 <br> <br> Cap Rate @ $1.65M 7.6% <br> <br> Not bad for a neighborhood where commercial property changes hands at a 5% cap rate....
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Home facts
- Year built:1889
- Subdivision & Development:Prospect Heights
- Listing ID #:RLS20100599
- Added:119 day(s) ago
- Updated:October 27, 2026 at 11:33 AM
Rooms and interior
- Total bathrooms:2
- Full bathrooms:1
- Half bathrooms:1
- Rooms Total:5
- Basement:Yes
Structure and exterior
- Year built:1889
- Exterior Features:Building Roof Deck
Finances and disclosures
- Price:$1,650,000
Features and amenities
- Appliances:WasherDryerAllowed
- Laundry features:Washer Dryer Allowed
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