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223 Knickerbocker Ave 4,675 SF 100% Leased Retail Building Brooklyn, NY 11237 $2,415,455 CAD ($516.67 CAD/SF) 7.35% Cap Rate
Investment Highlights
- Cashflow + Upside: Currently grossing $186K, with clear path to achieve $200K via increases to legal and market rents
- Renovated With High-End Finishes: The three FM units are fully renovated with high-end appliances and fixtures and includes in-unit laundry
- Desirable Location: One block from Maria Hernandez Park, on Knickerbocker Avenue, the focal point of North Bushwick
- 50% Free Market: Three units are fully free market and three units are rent stabilized (one of which has a high legal rent of $3,725)
- Transit Oriented Location: The L-train is just two blocks away at Jefferson St, with access to Williamsburg and Union Square within 15 minutes
Executive Summary
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,675 SF
Building Class
C
Year Built
1931
Price
$2,415,455 CAD
Price Per SF
$516.67 CAD
Cap Rate
7.35%
NOI
$177,617 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.79
Lot Size
0.06 AC
Zoning
R6
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Richele Fashion
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Richele Fashion | - | - | - | - |
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03187-0006 | Improvements Assessment | $675,899 CAD |
| Land Assessment | $53,328 CAD | Total Assessment | $729,227 CAD |
Property Taxes
Parcel Number
03187-0006
Land Assessment
$53,328 CAD
Improvements Assessment
$675,899 CAD
Total Assessment
$729,227 CAD
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223 Knickerbocker Ave
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