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Office Vacant-User

1670 East 17th Street

1670 East 17th Street, Brooklyn, NY 11229

Listing Price: $6,100,000

Cap Rate
1.50%
Gross SF
10,900
Rentable SF
10,900
Price/Gross SF
$559.63
Lot Size
0.09 acres
Year Built
1925

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 1670 East 17th Street, a three-story mixed-use commercial elevator building with retail and offices located between Kings Highway & Quentin Road in the Sheepshead Bay neighborhood of Brooklyn, NY. The subject property is built full on a 73.83 ft x 119.42 ft, R7A, C4-4A zoned lot (Block: 06779 Lot: 0033) totaling 3,903 SF. The property enjoys substantial light and air throughout with 4 suites on each floor totaling 12 units with a storage unit in the basement. The current zoning permits an additional 4,700 SF to be added to the property. It features 73.9 ft of frontage on East 17th Street. The subject property is located one block from the Kings Highway subway station, serviced by the B & Q lines as well as by the B2, B31, B82, and B100 bus lines. Investors and developers have the opportunity to purchase a partially cash-flowing commercial building with vacant upper-level floors presenting an immediate value-add opportunity located along a prime commercial and residential corridor in the emerging Homecrest subsection of Sheepshead Bay in Brooklyn where demand for commercial and residential space remains strong.

Investment Highlights

  • Prime Location on E 17th Street Directly off Kings Highway in the Homecrest subsection of Sheepshead Bay
  • 10,900 SF, Three-Story Commercial Elevator Building with Additional 4,700 SF As-of-Right
  • 12 Commercial Units with 33% Occupancy and Immediate Vacancy on 2nd and 3rd Floors
  • Substantial Light and Air Exposure Throughout with 2nd and 3rd Floors Overlooking Kings Highway
  • 73.9 ft of Frontage on E 17th Street
  • One Block from the Kings Highway "B" & "Q" Trains
  • Located Next to National and Regional Stores Including Chase Bank, HSBC, NYCB, Planet Fitness, Rainbow, Target, CVS

Exclusively Listed By

Office Vacant-User

1670 East 17th Street

Listing Price: $6,100,000

Cap Rate
1.50%
Gross SF
10,900
Rentable SF
10,900
Price/Gross SF
$559.63
Lot Size
0.09 acres
Year Built
1925

Investment Highlights

  • Prime Location on E 17th Street Directly off Kings Highway in the Homecrest subsection of Sheepshead Bay
  • 10,900 SF, Three-Story Commercial Elevator Building with Additional 4,700 SF As-of-Right
  • 12 Commercial Units with 33% Occupancy and Immediate Vacancy on 2nd and 3rd Floors
  • Substantial Light and Air Exposure Throughout with 2nd and 3rd Floors Overlooking Kings Highway
  • 73.9 ft of Frontage on E 17th Street
  • One Block from the Kings Highway "B" & "Q" Trains
  • Located Next to National and Regional Stores Including Chase Bank, HSBC, NYCB, Planet Fitness, Rainbow, Target, CVS

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 1670 East 17th Street, a three-story mixed-use commercial elevator building with retail and offices located between Kings Highway & Quentin Road in the Sheepshead Bay neighborhood of Brooklyn, NY. The subject property is built full on a 73.83 ft x 119.42 ft, R7A, C4-4A zoned lot (Block: 06779 Lot: 0033) totaling 3,903 SF. The property enjoys substantial light and air throughout with 4 suites on each floor totaling 12 units with a storage unit in the basement. The current zoning permits an additional 4,700 SF to be added to the property. It features 73.9 ft of frontage on East 17th Street. The subject property is located one block from the Kings Highway subway station, serviced by the B & Q lines as well as by the B2, B31, B82, and B100 bus lines. Investors and developers have the opportunity to purchase a partially cash-flowing commercial building with vacant upper-level floors presenting an immediate value-add opportunity located along a prime commercial and residential corridor in the emerging Homecrest subsection of Sheepshead Bay in Brooklyn where demand for commercial and residential space remains strong.

Exclusively Listed By

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