Skip to main content

Shopping Neighborhood

393 - 403 Avenue P

399 Avenue P, Brooklyn, NY 11223

Listing Price: $4,120,000

Cap Rate
5.34%
Gross SF
5,220
Rentable SF
5,200
Price/Gross SF
$789.27
Lot Size
0.12 acres
Year Built
1931

Investment Overview

Marcus & Millichap is pleased to offer an opportunity to acquire a neighborhood retail strip with a long history of excellent tenancy. Retailers who want to capture the Midwood retail market will look for leasing opportunities at this property first, over any other building on the street, for its high visibility and prime location.

Investment Highlights

  • The property is directly adjacent to the Avenue P MTA Subway Station (F line) which totals nearly 800,000 riders annually and grew 45.3% between 2018 - 2019.
  • Located on the dominant corner of Avenue P and McDonald Avenue, 399 Avenue P is the best option for retailers to capture foot traffic from the station.
  • Each retail bay has excellent store frontage and signage potential.
  • The next owner will have the opportunity to achieve higher rents for nearly a third of the property.
  • Newly signed tenant for the corner wants to expand in the building with other concepts.
  • Existing coffee shop wants to renew a ten year lease.
  • The property is primarily best suited for neighborhood service retailers.
  • Santander Bank nearby has deposits of over $100 MM. HSBC, Bank of America, Sterling National Bank, Isreal Discount Bank of NY, JP Morgan Chase, NY Community Bank, Northfield Bank, and TD Bank are all in the Midwood neighborhood with bank deposits over $1.8 BB.

Exclusively Listed By

Financing By

Shopping Neighborhood

393 - 403 Avenue P

Listing Price: $4,120,000

Cap Rate
5.34%
Gross SF
5,220
Rentable SF
5,200
Price/Gross SF
$789.27
Lot Size
0.12 acres
Year Built
1931

Investment Highlights

  • The property is directly adjacent to the Avenue P MTA Subway Station (F line) which totals nearly 800,000 riders annually and grew 45.3% between 2018 - 2019.
  • Located on the dominant corner of Avenue P and McDonald Avenue, 399 Avenue P is the best option for retailers to capture foot traffic from the station.
  • Each retail bay has excellent store frontage and signage potential.
  • The next owner will have the opportunity to achieve higher rents for nearly a third of the property.
  • Newly signed tenant for the corner wants to expand in the building with other concepts.
  • Existing coffee shop wants to renew a ten year lease.
  • The property is primarily best suited for neighborhood service retailers.
  • Santander Bank nearby has deposits of over $100 MM. HSBC, Bank of America, Sterling National Bank, Isreal Discount Bank of NY, JP Morgan Chase, NY Community Bank, Northfield Bank, and TD Bank are all in the Midwood neighborhood with bank deposits over $1.8 BB.

Investment Overview

Marcus & Millichap is pleased to offer an opportunity to acquire a neighborhood retail strip with a long history of excellent tenancy. Retailers who want to capture the Midwood retail market will look for leasing opportunities at this property first, over any other building on the street, for its high visibility and prime location.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower