9508-9516 Church Ave - Storefront FOR SALE


Brooklyn, NY 11212- East Flatbush
$3,860,000 USD
917-539-0402
9508-9516 Church Ave, Brooklyn, NY for Sale
$3,860,000 USD
Storefront - FOR SALE
1/6
null | 6.25% Cap Rate

9508-9516 Church Ave
Brooklyn, NY 11212
East Flatbush


HIGHLIGHTS

  • Fully Occupied 6,200 SF Three-Tenant Retail Strip on an 8,000 SF Lot with 80 Feet of Church Avenue Frontage
  • Long-Term Tenancy Stability with A to Z Hardware (25+ Years), My Optician (15+ Years), and Quilox Lounge (New 10-Year Lease)
  • Built-In Growth Through 2–3 Percent Annual Rent Increases Across All Tenants, with Leases Extending Through 2030 and 2035

OVERVIEW

The subject offering is a 6,200 square foot, three-tenant retail strip located on Church Avenue, between E 95th Street and E 96th Street in Brooklyn’s East Flatbush neighborhood. The property is 100 percent occupied. All three tenants have annual increases, and all three tenants reimburse for a proportionate share of taxes above their respective base years. This is a minimal-management multi-tenant retail asset resting on an 8,000 square foot lot zoned R6/C1-3. The site has an FAR of 2.43, and a total buildable square footage of 19,440 square feet. A to Z Hardware has been at this location for over 25 years. Their space consists of 3,000 square feet of ground floor retail, and a 700 SF mezzanine space. They have two percent annual increases on a lease that runs through 2035. My Optician has been at this location for more than 15 years. They have three percent annual increases on a 20-year lease that runs through 2030. Quilox Lounge, a local lounge and event space, just executed a new 10-year lease with three percent annual increases. The site is surrounded by local and neighborhood retailers in every direction down Church Avenue, including Popeye’s, Dollar Tree, Metro PCS and Key Food. The property benefits from high levels of foot traffic given its proximity to Brookdale Hospital, and the fact that Church Avenue is a major retail corridor throughout East Flatbush. This is an opportunity to acquire a fully occupied single-story retail asset with 80 feet of retail frontage along Church Avenue.

FOR SALE DETAILS

PRICE

$3,860,000 USD

PRICE/SF

$636 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3-Tenant/100% Occupied Retail Strip

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

R6

APN/PARCEL ID

04716-0042

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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