Investment 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.