Investment Overview

The subject offering is a 9,928 SF shopping strip, that is 100% occupied with seven tenants, on the corner of Church Avenue and Remsen Avenue in Brooklyn, NY. This is a single-story retail property that was constructed brand-new in 2010, with a dedicated front parking lot that accommodate 20 cars. The property has 206 feet of retail frontage on Remsen Avenue, and another 70 feet of retail frontage on Church Avenue. The property is comprised of two separate tax lots, and the asset rests on a 13,152 SF lot (C8-1 Zoning). All the tenants have annual rental increases. There is an ICAP Tax Abatement in-place through 6/30/2027. The current taxes are $54,526 (they would be $73,451 without the abatement). This is an opportunity to acquire a 100% occupied shopping strip in Brooklyn that generates strong cash flow with solid annual increases and outstanding frontage and visibility. The property is located directly across the street from Burger King and Dollar Tree, and it is surrounded by retailers such as Popeye’s, Dunkin Donuts and McDonald’s.