1209 Nostrand Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11225- Prospect Lefferts Gardens
$1,250,000 USD
718-395-1877
1209 Nostrand Ave, Brooklyn, NY for Sale
$1,250,000 USD
Storefront Retail/Residential - FOR SALE
1/2
null | 6.5% Cap Rate

1209 Nostrand Ave
Brooklyn, NY 11225
Prospect Lefferts Gardens


OVERVIEW

TerraCRG has been retained to exclusively represent ownership in the sale of 1209 Nostrand Avenue – a mixed-use building in the Prospect Lefferts Gardens neighborhood of Brooklyn. The ~2,400 SF property consists of: A free-market 4-bedroom plus office/2 full bath unit that is fully renovated including an in-unit washer/dryer. A fully renovated retail store which was previously a successful café. The space is fully built out and includes new flooring, service countertop, cooking hood/kitchen equipment, updated electric, electric roll down gate and a full basement. The building itself is also in very good condition including the roof, which was replaced 5 years ago. When the retail space is occupied, the building should have a gross annual income of ~102,000 and the Cap Rate should be about 6.5% with no renovation required to achieve that cap rate. The property is ideally located on the same block as the 2/5 Winthrop Street train station and in very close proximity to both Prospect Park and SUNY Downstate Hospital.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$504 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Free Market Mixed-Use Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,307 SF

ZONING

R6

APN/PARCEL ID

04819-0009

ASK ABOUT THIS PROPERTY

Matthew CosentinoTerraCRG Brooklyn Commercial Real EstateMore Info
718-395-1877

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Matthew CosentinoTerraCRG Brooklyn Commercial Real EstateMore Info
718-395-1877

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