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8623 Flatlands Ave 13,497 SF 100% Leased Retail Building Brooklyn, NY 11236 $7,340,447 CAD ($543.86 CAD/SF)
Investment Highlights
- 35-year 421-a tax exemption
- New 4-story elevator building plus cellar and 8 enclosed parking spaces
Executive Summary
Rare opportunity to add the only mixed-use property currently available in the 11236 zip code to your portfolio. A newly constructed (2024) elevator building featuring 12 residential units, ground-floor retail occupied by a pawn shop, 8 enclosed parking spaces, and a 35-year 421-a tax exemption.
This four-story building plus a cellar offers a balanced income profile with 8 free-market units and 4 affordable housing units, along with a retail component, residential lobby, dedicated parking garage, and accessory and bicycle storage. The residential units are complemented by multiple private and shared rooftop terraces.
This property offers a rare combination of new construction, multiple income streams, and long-term tax advantages in Brooklyn.
This four-story building plus a cellar offers a balanced income profile with 8 free-market units and 4 affordable housing units, along with a retail component, residential lobby, dedicated parking garage, and accessory and bicycle storage. The residential units are complemented by multiple private and shared rooftop terraces.
This property offers a rare combination of new construction, multiple income streams, and long-term tax advantages in Brooklyn.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
13,497 SF
Building Class
C
Year Built
2024
Price
$7,340,447 CAD
Price Per SF
$543.86 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
3.75
Lot Size
0.08 AC
Zoning
R5
Parking
8 Spaces (0.59 Spaces per 1,000 SF Leased)
Frontage
36’ on Flatlands Ave
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08007-0001 | Improvements Assessment | $1,212,836 CAD |
| Land Assessment | $235,587 CAD | Total Assessment | $1,448,423 CAD |
Property Taxes
Parcel Number
08007-0001
Land Assessment
$235,587 CAD
Improvements Assessment
$1,212,836 CAD
Total Assessment
$1,448,423 CAD
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Presented by
Legacy Estate Realty
8623 Flatlands Ave
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