1108 60th Street, Brooklyn, NY
Hotel for Sale - $7,350,000 - 10,095 Sq. Ft. on 0.14 acres
Property Info
CIMLS# | 1007840 |
Location 1108 60th Street Brooklyn NY 11219 | |
Updated | June 22nd, 2018 |
Type | Hotel |
Price | $7,350,000 |
Building | 10,095 Sq. Ft. |
Land | 0.14 acres |
Property Description
Coldwell Banker Reliable Commercial Division is pleased to offer a new 26 room, 10,095 SF Hotel on a 6,000 SF lot including a 3,000 SF parking area for sale. Located at 1108 60th Street, on the border of the Dyker Heights and Borough Park section of Brooklyn NY.
Investment Highlights
10,095 SF Hotel, 26 Rooms, 6,000 SF Lot, 3,000 SF Parking
Annual Projections: $1,411,638 Gross Revenue, $773,163 Total Expenses, $638,475 Net Income, 45% Profit Margin, 8% Cap Rate
Location Highlights:
Average room rates in Brooklyn are $182.13 (source: the real deal)
Brooklyn hotel occupancy rates are among the highest of any urban market in the U.S. (source NYC.gov)
Close proximity to Manhattan.
Nearby retailers, restaurants and entertainment.
Easy access to public transportation. Walking distance to the N Train.
25 minute drive to JFK Airport and 30 minutes to La Guardia Airport.
Walk Score 93% (source CoStar)
Transit Score 76% (source CoStar)
Financials
Annual Projections:
$1,411,638 Gross Revenue
$773,163 Total Expenses
$638,475 Net Income
45% Profit Margin
8% Cap Rate