Warehouse*Developement*Investment Property*Parking*Can Deliver Vacant (Scholes St, Williamsburg, Brooklyn)

Can Be Delivered Vacant

Large Parking Area,

Lot Size: 27,500 square feet,

The Lease Expires Jan 2025,

Zoning: M1-1,

Commercial FAR: 1.00 – 27,500 buildable Square

Facility FAR: 2.40 – 66,000 buildable square feet

Located in the Williamsburg section of Brooklyn,

the property consists of 7 lots adjacent to each other

with 150 feet of frontage on Scholes Street and 125 feet

of frontage on Meserole Street.

The property is fully leased to PAY-O-MATIC Corp.

They use the property as parking and warehouse

space for their business operations. There are currently 3 separate

warehouse buildings on the property.

One of the buildings size is 50 x 200 sq. ft. and consists of 10,000 sq. ft.

with an additional 2,500 sq. ft. of a second floor.

The size of a second warehouse building on the property is 50 x 100 sq. ft. with a second

floor and total of 10,000 sq. ft. The size for the third and smaller warehouse

building is 25 x 100 sq. ft. no second floor. The remaining 10,000 sq. ft. of

property is used for parking. The ceiling height is 16ft and 11ft.

It is a triple-net lease with the tenant currently paying $409,772 per year

3% escalations every year.

The lease is set to expire in January 2025 with the tenant then having a 5-year option.

Contact: 917 – 284 – 5920