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1197 Flatbush Ave 3,070 SF 100% Leased Retail Building Brooklyn, NY 11226 $1,875,477 CAD ($610.90 CAD/SF) 7.05% Cap Rate
Executive Summary
Verada, as exclusive agent, is pleased to offer for sale 1197 Flatbush Avenue, a mixed-use building in Flatbush, Brooklyn.
The property features two free-market apartments above a vacant, turnkey restaurant space. The apartments generate $46,200 annually in current residential income.
The restaurant space is vacant and turnkey, well suited for an owner-operator.
Projected/stabilized NOI is $95,156, and the $1,350,000 ask equals a 7.05% pro forma cap rate and $333.50/SF, below the mixed-use comp average.
Ownership is keeping the restaurant space vacant at sale, positioning the building for an owner-operator buyer to occupy and run their own concept.
The property features two free-market apartments above a vacant, turnkey restaurant space. The apartments generate $46,200 annually in current residential income.
The restaurant space is vacant and turnkey, well suited for an owner-operator.
Projected/stabilized NOI is $95,156, and the $1,350,000 ask equals a 7.05% pro forma cap rate and $333.50/SF, below the mixed-use comp average.
Ownership is keeping the restaurant space vacant at sale, positioning the building for an owner-operator buyer to occupy and run their own concept.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,070 SF
Building Class
C
Year Built
1933
Price
$1,875,477 CAD
Price Per SF
$610.90 CAD
Cap Rate
7.05%
NOI
$132,221 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.82
Lot Size
0.04 AC
Zoning
R6 - R6 zoning districts are widely mapped in built-up, medium-density areas in Brooklyn, Queens and the Bronx.
Frontage
30’ on Flatbush Ave
Amenities
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Sip unWine Bar
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Sip unWine Bar | Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 05188-0010 | Improvements Assessment | $130,117 CAD |
| Land Assessment | $20,812 CAD | Total Assessment | $150,929 CAD |
Property Taxes
Parcel Number
05188-0010
Land Assessment
$20,812 CAD
Improvements Assessment
$130,117 CAD
Total Assessment
$150,929 CAD
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1197 Flatbush Ave
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