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: 9 1 7 – 2 8 4 – 5 9 2 0
