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Single-Tenant Office Medical

Williamsburg Retail Condo

228 Bushwick Ave, Brooklyn, NY 11206

Listing Price: $3,800,000

Cap Rate
5.39%
Tenant Name
Prominis
Years Remaining On Lease
7.8
Guarantor
Personal Guarantee
Rentable SF
5,850
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.82

Investment Overview

• NNN • This is the Medical Group’s second lease at the premises. They have been in operation at this location since 2014. • Williamsburg is Brooklyn’s most popular and expensive Neighborhood. Having undergone significant gentrification since the late 1990’s, it is now home to numerous internationally known boutiques, galleries, Cafés, restaurants, and clubs. • Located in a dense and affluent neighborhood with over 41,000 people living within a half-mile radius with an average household income of over $82,800.

Investment Highlights

  • • Medical office condo with 4 parking spaces located in the Williamsburg neighborhood of Brooklyn on Bushwick Avenue between Maserole Street and Montrose Ave
  • • ICIP Tax abatement in effect until the 2035/2036 tax year
  • • 8 years remaining on a 10-year lease with annual 3% rent increases. One 10-year option with a continuation of the same annual increases thereafter.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

Financing By

Single-Tenant Office Medical

Williamsburg Retail Condo

Listing Price: $3,800,000

Cap Rate
5.39%
Tenant Name
Prominis
Years Remaining On Lease
7.8
Guarantor
Personal Guarantee
Rentable SF
5,850
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.82

Investment Highlights

  • • Medical office condo with 4 parking spaces located in the Williamsburg neighborhood of Brooklyn on Bushwick Avenue between Maserole Street and Montrose Ave
  • • ICIP Tax abatement in effect until the 2035/2036 tax year
  • • 8 years remaining on a 10-year lease with annual 3% rent increases. One 10-year option with a continuation of the same annual increases thereafter.

Investment Overview

• NNN • This is the Medical Group’s second lease at the premises. They have been in operation at this location since 2014. • Williamsburg is Brooklyn’s most popular and expensive Neighborhood. Having undergone significant gentrification since the late 1990’s, it is now home to numerous internationally known boutiques, galleries, Cafés, restaurants, and clubs. • Located in a dense and affluent neighborhood with over 41,000 people living within a half-mile radius with an average household income of over $82,800.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

Financing By

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