886 Franklin Avenue is a three-story mixed-use building in Crown Heights with four free-market apartments over one store. The rents in place today put it at a 6.9% cap day one, with room to push it higher through capital improvements.
The apartments aren't typical. The two top-floor units are lofts, and both second-floor units have their own outdoor space. The retail space is enormous. It runs 90 feet deep with a full basement underneath.
Location and Transportation
The building sits in the middle of one of central Brooklyn's busiest retail strips, with restaurants, cafés, bars and neighborhood retail drawing steady foot traffic all day. Prospect Park, the Brooklyn Botanic Garden and the Brooklyn Museum are all about a ten-minute walk, and Medgar Evers College is two blocks south.
Transit is three blocks away. Franklin Avenue–Medgar Evers College at Eastern Parkway is an express stop on the 2, 3, 4 and 5, which puts Atlantic Terminal one stop away and Manhattan a direct ride. The Franklin Avenue Shuttle runs out of the same station with a free transfer, connecting to the B and Q at Prospect Park and the C at Fulton Street.