Investment Overview

Marcus & Millichap is proud to present an opportunity to acquire a prime South Brooklyn retail corner located at the intersection of Avenue U and E 18th Street in Brooklyn’s Sheepshead Bay neighborhood. The offering consists of three separate contiguous buildings totaling 16,000 rentable square feet. The property rests on a 14,700-square-foot lot (140 ft x 105 ft) with 140 feet of retail frontage along Avenue U. The property is 100 percent occupied by three tenants. Walgreens occupies 8,900 square feet, on a corporate guaranteed lease through November 2028. Walgreens is responsible for their pro-rata share of both real estate taxes and insurance. This is a dark location for them, and the space has been subleased to Crazy Saving, a local discount retailer, whose lease expires on the same day as Walgreens’ lease in November 2028. The corner retail space is 1,600 square feet, and it is leased to Vision Palace Optical, which has been at this location for more than 35 years. The third retail space is the former CTown Supermarket, which consists of 3,500 square feet of ground floor and 2,000 square feet of additional second floor space. The building has a finished 7,200-square-foot lower level. Walgreens uses 2,000 square feet; the remainder is vacant. There is an elevator going from the Walgreens space to the lower level. This is an opportunity to acquire almost an entire block of retail on Avenue U two blocks from the subway (Avenue U Train Station – Q Train) and surrounded by local and national retailers, including TD Bank, Chase Bank, Citizen’s Bank and Dunkin'.