715 Lorimer Street & 45 Richardson Street Williamsburg Brooklyn NY 11211
This property presents a huge opportunity for an investor or restaurateur to open on a heavily trafficked corner space in the most popular neighborhood in all of Brooklyn and be located one block from McCarren Park and the McCarren Park Pool. 2000 square feet (gross) of commercial space. 100 square feet of property frontage for outdoor tables and seating to maximize number of clientele served. Turn-key investment property featuring: Two buildings for sale, side by side, on a corner lot in one of the most desirable and fastest developing areas of Williamsburg’s North Side. Fully upgraded and renovated – new roof, new water and sewer main, plumbing and electrical throughout.
New Boilers and hot water heaters for individual unit heating. Six renovated free market rentals collecting market rate rents and two ground floor commercial spaces. Richardson Street side commercial space is currently occupied by a successful and well known restaurant with full liquor license in place. Lorimer Street corner commercial space will be delivered vacant and currently carries a partial liquor license.
Commercial spaces can be combined for one large commercial/restaurant space or kept separate to maintain separate businesses. Corner commercial is a prime lucrative high foot traffic / income area for lottery ticket sales and ATM fees. Corner wall provides income as rentable mural space for additional income production.
Both buildings feature roof decks with gorgeous views which can be used for additional restaurant seating and can be built out further to maximize roof area square footage.
Monthly break even point for Owner/User Commercial Business: $12,228.99 – Net Monthly Equity Payment: $9,642.00 = Actualized Commercial Rent Cost: $2,586.00 (15.48 per square foot compared to $115 per foot market rate).
- Address: 715 Lorimer Street & 45 Richardson Street Brooklyn NY 11211
- Location: Williamsburg, corner of Lorimer Street and Richardson Street
- Buildings On Lot: 2
- Total Residential Units: 6
- Total Commercial Units: 2
- Combined Total Square Footage: 6,000 + 2000 Basement Usable
- Combined Total Commercial Square Footage: 2,000
- Combined Total Residential Square Footage: 4,000
- Zoning: M1-2/R6A/MX-8
- Lot Size: 25 ft x 80 ft
Gross Yearly Income At Market Rent: $427,200
Asking: $7,200,000 | Please Contact Our Office To Schedule Walk Through Or Request Floor Plans