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Single-Tenant Industrial

311 Scholes Street

311 Scholes St, Brooklyn, NY 11206

Listing Price: $4,500,000

Cap Rate
5.65%
Gross SF
7,475
Price/Gross SF
$602.01
Lot Size
0.17 acres
Year Built
1920
Rentable SF
7,475

Investment Overview

The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange
the sale of 311 Scholes Street, a warehouse building located between Bogart & Waterbury Street
in the Williamsburg neighborhood of Brooklyn, NY. It is built 75 ft x 100 ft on a 75 ft x 99.67 ft,
M1-1 zoned lot. The building features one 10 ft x 12 ft garage door and a 15 ft ceiling height. It
is fully leased through 2028 with 4% rent escalations annually.

The subject property is strategically located within a 6-minute walk from the Montrose Avenue
subway station, serviced by the L line. It is also within a 14-minute drive to the BQE, providing
for ease of access to Manhattan, Queens, and throughout Brooklyn.

Investors have the unique opportunity to purchase a cash flowing warehouse in the rapidly developing Williamsburg neighborhood where commercial rents remain strong.

Investment Highlights

  • Tenant has been operating at the location since 2013, and is leasing an additional 20,000 SF nearby with 311 Scholes Street remaining their primary base
  • 4% year over year rent increases offer strong inflation hedge
  • Tenant has just signed a 7 year renewal after an original 5 year term
  • NN Lease with no landlord responsibilities except external roof and structural repairs

Exclusively Listed By

Financing By

Single-Tenant Industrial

311 Scholes Street

Listing Price: $4,500,000

Cap Rate
5.65%
Gross SF
7,475
Price/Gross SF
$602.01
Lot Size
0.17 acres
Year Built
1920
Rentable SF
7,475

Investment Highlights

  • Tenant has been operating at the location since 2013, and is leasing an additional 20,000 SF nearby with 311 Scholes Street remaining their primary base
  • 4% year over year rent increases offer strong inflation hedge
  • Tenant has just signed a 7 year renewal after an original 5 year term
  • NN Lease with no landlord responsibilities except external roof and structural repairs

Investment Overview

The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 311 Scholes Street, a warehouse building located between Bogart & Waterbury Street in the Williamsburg neighborhood of Brooklyn, NY. It is built 75 ft x 100 ft on a 75 ft x 99.67 ft, M1-1 zoned lot. The building features one 10 ft x 12 ft garage door and a 15 ft ceiling height. It is fully leased through 2028 with 4% rent escalations annually. The subject property is strategically located within a 6-minute walk from the Montrose Avenue subway station, serviced by the L line. It is also within a 14-minute drive to the BQE, providing for ease of access to Manhattan, Queens, and throughout Brooklyn. Investors have the unique opportunity to purchase a cash flowing warehouse in the rapidly developing Williamsburg neighborhood where commercial rents remain strong.

Exclusively Listed By

Financing By

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