Mixed-Use Property Listed at 272 Smith Street Brooklyn

FOR SALE

$5,000,000

272 Smith Street

5,200 SF

Square Feet

$962

PPSF

6.68%

CAP

Property Description

NOI

$334,121

Cap Rate

6.68%

This 100% free-market mixed use asset is positioned on one of the most desirable retail strips in all of Brooklyn. Only two blocks from Carroll Park and in close proximity to multiple subway stops, 272 Smith Street is the definition of a prime location.
The property, spanning 5,360 square feet, offers 7 recently renovated free-market apartments all achieving top of market rents for the area.
The Cubana Cafe, a long-standing local favorite, provides income stability through a strong rent of $8,760 per month ($133 PSF).
Offering stable in-place income and an attractive 6.7% cap rate in place, 272 Smith Street is positioned to deliver for any investor from day one.

Property Details

Zoning

R6B, C2-4

Lot Size

1,500 SF

Listing Type

sale

Offering Memorandum

Download

Purchase Price ($)

Down Payment (%)

Interest Rate (%)

Amortization

Loan Term

Gross Income ($)

Vacancy Rate (%)

Mgmt Fee ($)

Insurance ($)

Maintenance ($)

Utilities ($)

Property Taxes ($)

Reserves ($)

Net Operating Income (NOI)

$530,083

Debt Service Coverage Ratio (DSCR)

1.86x

Cap Rate

10.60%

Cash Flow (Annual)

$245,652

Cash-on-Cash Return

19.65%

Monthly Debt Service

$23,703

Annual Debt Service

$284,431

View on Map

Address

272 Smith Street

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Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale

No investors found in this market.

Contact the Listing Team

Michael (Mike) Salvatico

Real Estate Broker

173 closed

Shaun Riney

Senior Managing Director of Investments

358 closed

Will Carbonari

Investment Sales Associate

4 closed

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Download Offering Memorandum