1397 Flatbush Avenue — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Brooklyn, NY 11210

Photos

1397 Flatbush Avenue — Sale in Brooklyn, NY, photo 1 of 2
1397 Flatbush Avenue — Sale in Brooklyn, NY, photo 2 of 2

Investment Figures

Cap rate
7.29%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Investment Highlights: • Long-Term Retail Stability with a Hair Salon Lease in Place Through 2033 Along the High-Traffic Flatbush Avenue Corridor • Free Market Residential Units with Near-Term Upside Potential Including One Month-to-Month Apartment Allowing for Future Mark-to-Market Growth • Opportunity to Acquire a Well-Located Mixed-Use Asset at Approximately $482/SF with Additional Air Rights and Strong In-Place Cash Flow

Market Context

This mixed use in Brooklyn, NY is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in Brooklyn, NY — view the full market.

Contact

  • Alex Arustamian
  • Scott Plasky

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