212-372-2165
3448 Nostrand Ave, Brooklyn, NY for Sale
Storefront - FOR SALE
1/2
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3448 Nostrand Ave
Brooklyn, NY 11229
Sheepshead Bay


HIGHLIGHTS

  • High traffic corner on Nostrand Avenue in the heart of Sheepshead Bay with rare on-site parking.
  • Institutional-quality investment featuring national credit tenancy and a simple two-tenant rent roll.
  • 100% leased to Starbucks and Greene Street Cannabis Co. with strong in place cash flow
  • Contractual rent escalations provide long-term NOI growth.
  • Future value-add opportunity with approximately 4,641 SF of remaining as-of-right air rights.
  • Prime neighborhood retail location with strong residential density and access to the B/Q subway lines.

OVERVIEW

Newmark has been retained on an exclusive basis to arrange the sale of 3448–3454 Nostrand Avenue, Brooklyn, NY, a prime two-building retail asset located at a signalized corner in the Sheepshead Bay neighborhood. The property consists of two single-story retail buildings with on-site parking, prominently situated along one of the area's most active commercial corridors. 3448–3454 Nostrand Avenue is a 100% leased, two-tenant retail property anchored by Starbucks and Greene Street Cannabis Co. under long-term leases. The buildings total approximately 5,164 square feet on a 9,805 square foot R4 / C1-2 corner lot, complemented by approximately 4,641 square feet of surface parking, providing strong customer convenience and supporting tenant performance. Both tenants benefit from approximately 98 feet of combined corner frontage, strong visibility, and easy access from Nostrand Avenue and surrounding residential streets, driving consistent daily traffic. Starbucks benefits from 12% rent increases every five years, while Greene Street Cannabis Co. features 3% annual rent escalations, providing clear contractual rent growth over the hold period. The leases include reimbursement of real estate taxes, common area maintenance, and insurance, creating predictable and growing cash flow for ownership. Combined with approximately 4,641 square feet of as-of-right remaining air rights, the offering provides both stable current income and long-term optionality for future repositioning or redevelopment. Situated in the heart of Sheepshead Bay, the property is surrounded by dense residential housing, established neighborhood retail, and a diverse mix of restaurants, services, and daily-needs retailers. The Nostrand Avenue corridor serves as a major north-south artery through southern Brooklyn, offering seamless access to Downtown Brooklyn and Manhattan via nearby B and Q subway service and connecting bus routes. The combination of a highly visible corner, on-site parking, and credit-quality tenancy makes 3448–3454 Nostrand Avenue a compelling, defensive retail investment in a mature Brooklyn neighborhood.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,805 SF

ZONING

R4/C1-2

APN/PARCEL ID

07362-0008

ASK ABOUT THIS PROPERTY

Daniel O'BrienNewmarkMore Info
212-372-2165

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Daniel O'BrienNewmarkMore Info
212-372-2165

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