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181 Irving Ave 4,875 SF 100% Leased Retail Building Brooklyn, NY 11237 $4,070,548 CAD ($834.98 CAD/SF) 5.88% Cap Rate
Investment Highlights
- Walkers Paradise on this Primary High Traffic Avenue, which is highly sought out by major chainstores, and franchises.
- One Block from the Dekalb Ave Train Station
- The building itself houses two popular community destinations: Bushwick Bark and Werkshop Coffee Co.
- High Capitalization Rate - Ideal 1031 Exchange
- Building has Nonregulated Rent.
- Due to the growing young professional population, walkers paradise this commercial location is in demand for many Franchises.
Executive Summary
INVESTMENT PROPERTY/1031 EXCHANGE: I am pleased to present this great opportunity to purchase this well-maintained mixed use building for sale at a 5.88% capitalization rate. The High Net Operating income of $173,878 is ideal for a 1031 exchange.
The 3 story brick building is fully occupied. The building and all 6 units are in great condition. There are 4 modern residential (1 bedroom) apartments with new plumbing, electric, and wood floors above 2 commercial ground level storefronts. The modern, clean, finished basement with tiles is great for storage.This area is characterized by populated young professionals, and rapidly diversifying population with high pedestrian activity driven by its proximity to major transit hubs and local commercial "hot spots. The storefronts are in what is described as "Bushwick's trendiest section," in huge demand by franchises due to its demographics, high visibility, and 1 block proximity to the train station, paradise walk score, and close proximity to Wyckoff Heights Hospital, Myrtle Avenue, and Kinickboker Ave. The building itself houses two popular community destinations: Bushwick Bark and Werkshop Coffee Co.
The 3 story brick building is fully occupied. The building and all 6 units are in great condition. There are 4 modern residential (1 bedroom) apartments with new plumbing, electric, and wood floors above 2 commercial ground level storefronts. The modern, clean, finished basement with tiles is great for storage.This area is characterized by populated young professionals, and rapidly diversifying population with high pedestrian activity driven by its proximity to major transit hubs and local commercial "hot spots. The storefronts are in what is described as "Bushwick's trendiest section," in huge demand by franchises due to its demographics, high visibility, and 1 block proximity to the train station, paradise walk score, and close proximity to Wyckoff Heights Hospital, Myrtle Avenue, and Kinickboker Ave. The building itself houses two popular community destinations: Bushwick Bark and Werkshop Coffee Co.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,875 SF
Building Class
C
Year Built
1931
Price
$4,070,548 CAD
Price Per SF
$834.98 CAD
Cap Rate
5.88%
NOI
$239,348 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.95
Lot Size
0.06 AC
Zoning
R6, Brooklyn (S4) - R6 ZONING with building square feet of 1198 and 1200 Sqft available air rights
Frontage
25’ on Irving Ave
Amenities
- Courtyard
- Fenced Lot
- Security System
- Storage Space
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03259-0003 | Improvements Assessment | $628,900 CAD |
| Land Assessment | $9,953 CAD | Total Assessment | $638,853 CAD |
Property Taxes
Parcel Number
03259-0003
Land Assessment
$9,953 CAD
Improvements Assessment
$628,900 CAD
Total Assessment
$638,853 CAD
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181 Irving Ave
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