1228 Flatbush Avenue — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Brooklyn, NY 11226

Investment Figures

Cap rate
2.70%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Investment Highlights: • • Stable retail income with built in rent growth providing strong in place cash flow • • Value add opportunity through lease up of two vacant residential units • • Additional air rights offering long term upside and redevelopment potential

Market Context

This mixed use in Brooklyn, NY is listed for sale. It is offered at an approximate 2.7% capitalization rate, a key benchmark for income-producing mixed use assets. It has been on the market for 100 days. Compare it against other mixed use listings for sale in Brooklyn, NY — view the full market.

Contact

  • Alexander Arustamian
  • Scott Plasky

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