Skip to main content

Mixed-Use

1860 Flatbush Ave

1860 Flatbush Ave, Brooklyn, NY 11210

Listing Price: $4,500,000

Cap Rate
1.19%
Number of Units
6
Occupancy
60.0%
Price/Unit
$750,000
Price/Gross SF
$214.29
Gross SF
21,000

Investment Overview

The Nowak Group of Marcus & Millichap has been retained exclusively by ownership to arrange the sale of 1860 Flatbush Avenue in the Midwood neighborhood of Brooklyn, NY. The subject property is a 14,940 square foot mixed-use property (with additional 7,700 square feet of basement space accompanying the ground-level retail unit, totaling 21,000 gross square feet) located on the western corner of Flatbush Avenue and E 38th Street. The lot is 9,000 square feet and is zoned R5/C2-2.

The subject property is broken down into 2 residential 2-bedroom apartments, and 4 commercial units.

The commercial units are leased to Our Place (~1,900 SF counseling/rehab clinic), Allstate (~1,300 SF insurance office), and 7th Street (~1,300 SF real estate office). The vacant ground-level retail space, formerly occupied by Gopuff and Family Dollar, is approximately 7,500 SF (with additional 7,500 SF basement square footage), and offers 115 feet of block frontage on Flatbush Avenue. Investors can realize immediate upside and stabilized cash flow by leasing the ground floor level and its accompanying basement.

1860 Flatbush Avenue offers investors the opportunity to own a sizeable corner retail property on a major retail corridor, and realize immediate upside through filling the vacant retail space at a market lease.

Investment Highlights

  • • Mixed-use building totaling 14,940 square feet of above-grade space (21,000 gross SF including the retail basement)
  • • Unit mix is 2 apartments and 4 commercial units
  • • R5/C2-2 zoned corner lot
  • • Approximately 115 feet of block frontage on Flatbush Avenue
  • • Immediate upside through leasing the vacant retail space

Exclusively Listed By

Mixed-Use

1860 Flatbush Ave

Listing Price: $4,500,000

Cap Rate
1.19%
Number of Units
6
Occupancy
60.0%
Price/Unit
$750,000
Price/Gross SF
$214.29
Gross SF
21,000

Investment Highlights

  • • Mixed-use building totaling 14,940 square feet of above-grade space (21,000 gross SF including the retail basement)
  • • Unit mix is 2 apartments and 4 commercial units
  • • R5/C2-2 zoned corner lot
  • • Approximately 115 feet of block frontage on Flatbush Avenue
  • • Immediate upside through leasing the vacant retail space

Investment Overview

The Nowak Group of Marcus & Millichap has been retained exclusively by ownership to arrange the sale of 1860 Flatbush Avenue in the Midwood neighborhood of Brooklyn, NY. The subject property is a 14,940 square foot mixed-use property (with additional 7,700 square feet of basement space accompanying the ground-level retail unit, totaling 21,000 gross square feet) located on the western corner of Flatbush Avenue and E 38th Street. The lot is 9,000 square feet and is zoned R5/C2-2. The subject property is broken down into 2 residential 2-bedroom apartments, and 4 commercial units. The commercial units are leased to Our Place (~1,900 SF counseling/rehab clinic), Allstate (~1,300 SF insurance office), and 7th Street (~1,300 SF real estate office). The vacant ground-level retail space, formerly occupied by Gopuff and Family Dollar, is approximately 7,500 SF (with additional 7,500 SF basement square footage), and offers 115 feet of block frontage on Flatbush Avenue. Investors can realize immediate upside and stabilized cash flow by leasing the ground floor level and its accompanying basement. 1860 Flatbush Avenue offers investors the opportunity to own a sizeable corner retail property on a major retail corridor, and realize immediate upside through filling the vacant retail space at a market lease.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower