247 Avenue U - Storefront FOR SALE


Brooklyn, NY 11223- Gravesend
$2,690,000 USD
732-841-5899
247 Avenue U, Brooklyn, NY for Sale
$2,690,000 USD
Storefront - FOR SALE
1/5
null | 5% Cap Rate

247 Avenue U
Brooklyn, NY 11223
Gravesend


HIGHLIGHTS

  • Asking Price: $2,800,000
  • Tenant: Northfield Bank (NASDAQ: NFBK)
  • Rent Increases: 3% Annually
  • Net Operating Income: $143,502
  • Building Size: 6,400 SF (Two Levels)
  • Corner Property with Strong Visibility

OVERVIEW

Offered for sale is a fully leased, corner retail bank building located at 247 Ave U, Brooklyn, NY, occupied by Northfield Bank (NASDAQ: NFBK) under a long-term lease featuring rare 3% annual rent increases through June 30, 2033. The property consists of a 6,400 square foot building over two levels, prominently positioned on a corner along Avenue U, a well-established Brooklyn retail corridor. The corner exposure provides strong visibility, durable tenancy, and long-term real estate fundamentals. Northfield Bank (NASDAQ: NFBK) currently pays $249,999 in gross annual rent, generating a Net Operating Income of $134,502. The lease structure provides predictable cash flow with built-in annual growth, a feature that is increasingly difficult to find in today’s market. The property is offered at an asking price of $2,800,000, representing a stabilized, low-management investment backed by a publicly traded financial institution in a supply-constrained Brooklyn market. This opportunity is well suited for 1031 exchange buyers, private investors, and long-term holders seeking durable income with annual rent growth.

FOR SALE DETAILS

PRICE

$2,690,000 USD

PRICE/SF

$420 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

1,973 SF

ZONING

R5B

APN/PARCEL ID

07101-0125

ASK ABOUT THIS PROPERTY

Eli MizrachiWharton PropertiesMore Info
732-841-5899

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Eli MizrachiWharton PropertiesMore Info
732-841-5899

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