519 Court St - Carroll Gardens, New York
Charming brick three-story townhouse with 800 SF retail (with basement and backyard) and two large full-floor residential units each with 1.5 bedrooms and 1 bath. The house is fully-occupied now at free market rents and both residential leases end in 2017. NOI is currently $85K/year giving this a Cap rate of nearly 3.5% when fully-rented at today's rents. Of course, it would also make a fantastic owners duplex with the rent from the chic retail space offsetting the cost of ownership. Currently, and for the next five years, the retail space is rented to a high-end salon who maintains the space impeccably. They have the sole use of the garden and basement.This Carroll Garden's house is conveniently located near the 9th St subway stop on the F and G lines. Nearby are fine eateries: Buttermilk Channel, Dover, Frankies, Le Petit Café and Court St Grocers.
This listing courtesy of Douglas Elliman