3448 Nostrand Ave 5,164 SF 100% Leased Retail Building Brooklyn, NY 11229 For Sale

Newmark has been retained on an exclusive basis to arrange the sale of 3448–3454 Nostrand Avenue, Brooklyn, NY, a prime two-building retail asset located at a signalized corner in the Sheepshead Bay neighborhood.
The property consists of two single-story retail buildings with on-site parking, prominently situated along one of the area's most active commercial corridors.
3448–3454 Nostrand Avenue is a 100% leased, two-tenant retail property anchored by Starbucks and Greene Street Cannabis Co. under long-term leases. The buildings total approximately 5,164 square feet on a 9,805 square foot R4 / C1-2 corner lot, complemented by approximately 4,641 square feet of surface parking, providing strong customer convenience and supporting tenant performance. Both tenants benefit from approximately 98 feet of combined corner frontage, strong visibility, and easy access from Nostrand Avenue and surrounding residential streets, driving consistent daily traffic.
Starbucks benefits from 12% rent increases every five years, while Greene Street Cannabis Co. features 3% annual rent escalations, providing clear contractual rent growth over the hold period. The leases include reimbursement of real estate taxes, common area maintenance, and insurance, creating predictable and growing cash flow for ownership.
Combined with approximately 4,641 square feet of as-of-right remaining air rights, the offering provides both stable current income and long-term optionality for future repositioning or redevelopment.
Situated in the heart of Sheepshead Bay, the property is surrounded by dense residential housing, established neighborhood retail, and a diverse mix of restaurants, services, and daily-needs retailers. The Nostrand Avenue corridor serves as a major north-south artery through southern Brooklyn, offering seamless access to Downtown Brooklyn and Manhattan via nearby B and Q subway service and connecting bus routes.
The combination of a highly visible corner, on-site parking, and credit-quality tenancy makes 3448–3454 Nostrand Avenue a compelling, defensive retail investment in a mature Brooklyn neighborhood.