1002 Brighton Beach Ave - Bank FOR SALE


Brooklyn, NY 11235- Brighton Beach
$25,500,000 USD
212-430-5293
1002 Brighton Beach Ave, Brooklyn, NY for Sale
$25,500,000 USD
Bank - FOR SALE
1/3
null | 4.76% Cap Rate

1002 Brighton Beach Ave
Brooklyn, NY 11235
Brighton Beach


HIGHLIGHTS

  • LEASE GUARANTEED: Lease currently guaranteed by Chase, the largest bank chain in the United States with over $4.357 trillion in assets
  • BRANCH DEPOSITS: Branch holds $714,805,000 in deposits as of 6/30/2024
  • STRATEGIC LOCATION: Strategically located at a four-way signalized intersection with over 24,500 VPD, steps from the Brighton Beach subway stop (B,Q)
  • FUTURE DEVELOPMENT: Paused application for rezoning when Chase lease was signed that could bring the total buildable square footage up to 170,000 SF

OVERVIEW

Rare opportunity to acquire a Chase Bank on a 23,479 SF lot with 21 on-site parking spaces in the Brighton Beach neighborhood of Brooklyn, NY. Chase extended the lease for 10 years starting 1/1/2023 with no options to renew thereafter with 9% rent increases every three years throughout the term, with the last increase lasting 4 years through the end of the lease.

FOR SALE DETAILS

PRICE

$25,500,000 USD

PRICE/SF

$1,509 USD /SF

CAP RATE

4.76%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chase Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1942

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,479 SF

ZONING

R6, C1-2 & R7-1, C2-4

APN/PARCEL ID

08720-0001

ASK ABOUT THIS PROPERTY

Philip BiancavillaMarcus & MillichapMore Info
212-430-5293

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Philip BiancavillaMarcus & MillichapMore Info
212-430-5293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.