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8500-8514 4th Ave
Brooklyn, NY 11209
Multifamily Property For Sale
·
49 Units
INVESTMENT HIGHLIGHTS
- Bay Ridge elevator mixed-use building | 49 residential & 8 commercial
- Seconds to national retailers: Gap, Chase Bank, Sephora, McDonald’s, Wendy’s, Victoria’s Secret, Duane Reade, and T-Mobile
- Asking price equates to $234/SF | 6.12% cap rate | 8.37x the rent roll
- Excellent location, less than a block from the busiest stretch of 86th Street
- Directly in front of the “R” Train 86th Street stop
- Long-term family ownership
EXECUTIVE SUMMARY
The Brennan Team of Marcus & Millichap has been exclusively hired to sell 8500 4th Avenue, a mixed-use apartment building comprised of 49 apartments and eight (8)
commercial spaces. This five-story elevator building is located on 4th Avenue between 85th Street & 86th Street in the Bay Ridge neighborhood of Brooklyn, New York. The subject property was built in 1925 and measures 140 feet wide by 93 feet deep on a lot that extends 100 feet deep. The property is zoned R7B, C4-2A, and the total approximate building size is 57,500 square feet based on public record. 8500 4th Avenue presents the rare opportunity to purchase an exceptionally welllocated investment building with income spread between apartments as well as groundfloor retail. Bay Ridge is typically considered a stable, safe, low-velocity submarket that consistently sees strong rental demand. The subject property is located in front of the 86th Street [ R ] Train Station, providing easy access to Manhattan and the rest of Brooklyn.
commercial spaces. This five-story elevator building is located on 4th Avenue between 85th Street & 86th Street in the Bay Ridge neighborhood of Brooklyn, New York. The subject property was built in 1925 and measures 140 feet wide by 93 feet deep on a lot that extends 100 feet deep. The property is zoned R7B, C4-2A, and the total approximate building size is 57,500 square feet based on public record. 8500 4th Avenue presents the rare opportunity to purchase an exceptionally welllocated investment building with income spread between apartments as well as groundfloor retail. Bay Ridge is typically considered a stable, safe, low-velocity submarket that consistently sees strong rental demand. The subject property is located in front of the 86th Street [ R ] Train Station, providing easy access to Manhattan and the rest of Brooklyn.
PROPERTY FACTS
| Price Per Unit | $380,893 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.12% | Lot Size | 3.40 AC |
| No. Units | 49 | Building Size | 57,500 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | R7B/C4-2A - Regional Commercial Center | ||
| Price Per Unit | $380,893 CAD |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 3.40 AC |
| Building Size | 57,500 SF |
| No. Stories | 5 |
| Year Built | 1925 |
| Zoning | R7B/C4-2A - Regional Commercial Center |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- On-Site Retail
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | - |
| 2+1 | 35 | - | - |
PROPERTY TAXES
| Parcel Number | 06034-0041 | Improvements Assessment | $5,074,293 CAD |
| Land Assessment | $521,721 CAD | Total Assessment | $5,596,015 CAD |
PROPERTY TAXES
Parcel Number
06034-0041
Land Assessment
$521,721 CAD
Improvements Assessment
$5,074,293 CAD
Total Assessment
$5,596,015 CAD
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