Log In/Sign Up
Your email has been sent.
1108 Blake Ave 3,000 SF 100% Leased Retail Building Brooklyn, NY 11208 $1,425,000 ($475/SF) 8.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Corner-lot mixed-use asset with retail, residential, and garage
- Delivered vacant residential unit offers immediate upside
- Located in East New York near Montauk and Atkins Avenues
- Long-term deli tenant with lease through 2030 and annual escalations
- Projected 8.6% cap rate with pro forma NOI of $132,834
EXECUTIVE SUMMARY
Exodus Capital is pleased to offer 1108 Blake Avenue for sale located on the corner of Blake Avenue between Montauk & Atkins with a total of 3,000 SF. The building consists of two, free market apartments over a deli and vacant garage which is 500 SF – ideal for storage or one car. The building is 20 x 50 and built back by 70. The asset is Tax Class 1 – with annual taxes of $3,508. There is organic upside in the rents with strong program tenant options and the ability to build to a low 9% return.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,000 SF
Building Class
C
Year Built
1910
Price
$1,425,000
Price Per SF
$475
Cap Rate
8.60%
NOI
$122,550
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.30
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
R5 - Medium density district with a height limit of 40 feet
Frontage
21’ on Blake Ave
Walk Score®
Very Walkable (74)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 04071-0031 | Improvements Assessment | $49,380 |
| Land Assessment | $4,680 | Total Assessment | $54,060 |
PROPERTY TAXES
Parcel Number
04071-0031
Land Assessment
$4,680
Improvements Assessment
$49,380
Total Assessment
$54,060
1 of 3
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
1108 Blake Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.