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1108 Blake Ave
Brooklyn, NY 11208
Retail Property For Sale
Investment Highlights
- Vacant Apartments
- Corner Building
Executive Summary
Invictus Property Advisors is pleased to present the exclusive offering of 1108 Blake Avenue, a three (3) unit mixed-use asset located in East New York, Brooklyn.
The building comprises two (2) vacant free market residential units, and one occupied ground floor retail space is leased to a deli that runs through 2028. The property also has a two-car garage in the rear.
The property is protected under Tax Class 1, which limits property tax increases year over year. Additionally, the lot benefits from QRS (Qualified Residential Site) designation and features a 2.5 FAR. It is also conveniently situated just five (5) blocks from the Shepherd Street Subway Station, served by the C line.
The building comprises two (2) vacant free market residential units, and one occupied ground floor retail space is leased to a deli that runs through 2028. The property also has a two-car garage in the rear.
The property is protected under Tax Class 1, which limits property tax increases year over year. Additionally, the lot benefits from QRS (Qualified Residential Site) designation and features a 2.5 FAR. It is also conveniently situated just five (5) blocks from the Shepherd Street Subway Station, served by the C line.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,400 SF
Building Class
C
Year Built
1910
Price
$1,500,000
Price Per SF
$441.18
Cap Rate
7.66%
NOI
$114,848
Percent Leased
33%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.60
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
R5 | C1-3 - Medium density district with a height limit of 40 feet
Parking
2 Spaces (0.59 Spaces per 1,000 SF Leased)
Frontage
21’ on Blake Ave
Property Taxes
| Parcel Number | 04071-0031 | Improvements Assessment | $52,920 |
| Land Assessment | $4,680 | Total Assessment | $57,600 |
Property Taxes
Parcel Number
04071-0031
Land Assessment
$4,680
Improvements Assessment
$52,920
Total Assessment
$57,600
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