Investment Overview

The subject offering is a 3,740 square foot, three story mixed use property located along the prime Flatbush Avenue retail corridor in Flatbush, Brooklyn. The asset consists of 1,540 square feet of ground floor retail and two 1,100 square foot residential units above. The property features 20 feet of frontage and sits on a 1,600 square foot lot. The ground floor retail is leased to El Dorado through September 2030 with structured 5% annual increases, providing strong in place cash flow and built in growth. The second and third floors are currently vacant, offering full upside through lease up or repositioning of the residential units. Zoned R7A/C2-4, the property offers a total buildable of 6,400 square feet, leaving approximately 3,104 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 mixed use asset with stable retail income, annual rent growth, and significant value add potential on both the residential and development side.