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201 Irving Ave
Brooklyn, NY 11237
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Nestled in the heart of Prime Bushwick.
- Location is surrounded by vibrant retail and dining corridors.
- Compelling Value-Add Upside
- Just two blocks from the L train and a few blocks from Maria Hernandez Park.
- Perfectly situated to attract both renters and investors.
EXECUTIVE SUMMARY
Marcus & Millichap - New York Multifamily is pleased to present 201 Irving Avenue, a five-unit mixed-use property located in Brooklyn, NY. Comprising four free market residential units—each with railroad two-bedroom layouts—and one 1,250 square foot commercial space and 4 rear garages (separate tax lot at 277 Himrod Street), the asset totals 5,100 gross square feet. All residential units are currently occupied with MTM rents well below market, providing immediate upside through repositioning. The ground floor deli tenant, A & O Grocery Corp, is secured on a long-term lease, offering stable cash flow and upside upon renewal. The retail space boasts a walk-in freezer and has subgrade storage in the cellar. The assets combine to a 2,000 square-foot lot and benefit from R6 Zoning in a highly walkable Brooklyn location primed for both residential and retail demand growth. This asset is ideally suited for hands-on investors seeking value-add upside and durable cash flow in Brooklyn’s competitive mixed-use landscape.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,100 SF
Building Class
C
Year Built
1931
Price
$2,626,750 CAD
Price Per SF
$515.05 CAD
Cap Rate
9.31%
NOI
$244,638 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.05
Lot Size
0.06 AC
Zoning
R6, Brooklyn, (S4) - Medium density residential district
Parking
3 Spaces (0.59 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Metro/Subway
PROPERTY TAXES
| Parcel Number | 03270-0001 | Improvements Assessment | $427,956 CAD |
| Land Assessment | $144,134 CAD | Total Assessment | $572,090 CAD |
PROPERTY TAXES
Parcel Number
03270-0001
Land Assessment
$144,134 CAD
Improvements Assessment
$427,956 CAD
Total Assessment
$572,090 CAD
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