122 Meserole Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11222- Greenpoint
$4,500,000 USD
718-475-4358
122 Meserole Ave, Brooklyn, NY for Sale
$4,500,000 USD
Storefront Retail/Residential - FOR SALE
1/19
null | Request Cap Rate

122 Meserole Ave
Brooklyn, NY 11222
Greenpoint


HIGHLIGHTS

  • 29.33 x 80' Corner Mixed Use Building in the Heart of Greenpoint | Corner of Leonard & Meserole Avenue
  • 4 Apts, 1 Retail Store, & 1 Garage
  • Almost 5,500 SF of Above Grade SF along with an additonal 1,200+ SF in the Basement with 8.5' Ceilings
  • Perfect Opportunity for Investor, Retail End-User, or Residential End-User
  • 1 Block from the G-Train Entrance
  • Property is surrounded by some of the best restaurants, nightlife, and shopping in all of NYC

OVERVIEW

Marcus & Millichap is pleased to present 122 Meserole Avenue, a 100% free market, corner mixed-use building in the heart of Greenpoint. Set on the corner of Meserole Avenue and Leonard Street, the property comprises four apartments, one ground-floor store, and one garage. Its red brick facade lends the building a commanding presence, drawing the eye as you head east from Manhattan Avenue. The building sits on a 29.33' x 79.92' lot, with the ground floor built out to the full lot line and 80' of frontage along Leonard Street plus 29.33' along Meserole Avenue. Upstairs, the four apartments are spacious and filled with natural light thanks to the corner exposure, and their layouts lend themselves well to a repositioning into luxury rentals or a condominium conversion. Greenpoint has seen sustained demand from renters seeking well-located, character-rich buildings outside of Manhattan, and comparable renovated properties in the immediate area are achieving rents of roughly $100 per square foot annually. With rents currently well below market, an investor has a clear, near-term path to substantially increase cash flow through unit-by-unit renovation and lease-up at market rates, while also benefiting from the long-term appreciation Greenpoint has consistently delivered. Below, the corner retail space benefits from high ceilings and excellent visibility, making it well suited to a restaurant, café, or luxury retailer with modest capital investment. The location strikes a rare balance: close enough to bustling Manhattan Avenue to capture its foot traffic and demand, yet set back on the quieter, tree-lined Leonard Street among handsome brownstones and townhomes. Rounding out the offering is a private garage with curb cut which is a genuinely rare amenity that guarantees covered parking for a residential occupant or business owner alike, and a true premium in New York City. The property is well situated 1 block from the G Train entrance, a 2 minute walk from McCarren Park, and surrounded by some of the best restaurants, nightlife, and shopping in all of Brooklyn. Available for the first time in over 50 years, 122 Meserole Avenue is a meticulously maintained, one-of-a-kind asset, a true blank canvas ready for an investor, owner-user, or business owner to live their dreams in one of the World's most dynamic locations.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$930 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R6B

APN/PARCEL ID

02621-0001

ASK ABOUT THIS PROPERTY

Mike SalvaticoMarcus & MillichapMore Info
718-475-4358

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Mike SalvaticoMarcus & MillichapMore Info
718-475-4358

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