1397 Flatbush Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11210- Flatbush-Ditmas Park
$1,100,000 USD
212-430-5276
1397 Flatbush Ave, Brooklyn, NY for Sale
$1,100,000 USD
Storefront Retail/Residential - FOR SALE
1/32
null | 7.29% Cap Rate

1397 Flatbush Ave
Brooklyn, NY 11210
Flatbush-Ditmas Park


HIGHLIGHTS

  • Three-story mixed-use building with a ground-floor retail tenant and two free-market residential units.
  • Retail space leased to a nail/hair salon under a long-term agreement ending in 2033, providing secure, stable income.
  • Free-market residential units offer near-term upside through rent adjustments and leasing flexibility.
  • Favorable R7A/C2-4 zoning with additional air rights enabling potential future development or building expansion.
  • Situated on bustling Flatbush Avenue near Brooklyn College and surrounded by major national retailers and dining options.
  • Convenient access to Newkirk Av (2/5 trains) and Newkirk Plaza (B/Q trains), ensuring strong commuter and consumer traffic.

OVERVIEW

The subject offering is a 2,280 square foot, three-story mixed use property located along the prime Flatbush Avenue retail corridor in Flatbush, Brooklyn. The asset consists of 798 square feet of ground floor retail and two 741 square foot residential units above. The property features 20 feet of frontage and sits on an 800 square foot lot. The ground floor retail is leased to a nail salon through 2033, providing long term stability and strong visibility. The residential units are both free market, with one apartment leased through 2027 and the other currently operating on a month-to-month basis, offering the ability to mark rents to market in the near term. Zoned R7A/C2-4, the property offers a total buildable of 2,640 square feet, leaving approximately 360 square feet of additional air rights. The surrounding corridor is densely populated and supported by a strong mix of national and local retailers including Metro, Dunkin, Popeyes, Wingstop, Target, Subway, Key Food, Burger King, and Crunch Fitness. This is an opportunity to acquire a well located mixed use asset with long term retail stability and embedded upside driven by free market residential units.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$504 USD /SF

CAP RATE

7.29%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1933

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

871 SF

ZONING

R7A

APN/PARCEL ID

05228-0012

ASK ABOUT THIS PROPERTY

Alexander ArustamianMarcus & MillichapMore Info
212-430-5276

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Alexander ArustamianMarcus & MillichapMore Info
212-430-5276

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