1231-1235 Bedford 3 Retail Properties Offered at $6,750,000 in Brooklyn, NY

INVICTUS Property Advisors exclusively presents the sale of 1231-1235 Bedford Avenue, a unique repositioning opportunity in the heart of Bedford-Stuyvesant. The property consists of three (3) contiguous mixed-use buildings with a total of twelve (12) residential units (all of which are studios/1-bedrooms) and four (4) ground floor retail stores. All of the residential units will be delivered vacant at closing. Currently, there are two (2) vacant retail stores (which will remain vacant) and two (2) occupied retail stores with leases expiring in March and August of 2020; they are currently paying $2,300 and $2,350 per month.
The buildings are each 20' wide, offering a total of 60' of frontage and 9,900 gross square feet. Alternatively, a developer could realize a total of 20,160 buildable square feet (BSF) as-of-right or 26,880 BSF with inclusionary housing in a flexible C4-5D / R7D zoning by redeveloping the existing structures once the retail leases expire.
The properties are at the intersection of two of Brooklyn's most active retail corridors: Bedford Avenue and Fulton Street. The immediate area is full of local and national retailers such as McDonald's, 7-Eleven, CityMD, T-Mobile, Planet Fitness, T-Mobile, AT&T, Walgreen's, KFC, among many others. The subject property is located just one avenue away from the A & C subway lines on Fulton Street & Nostrand Avenue and the C & S trains with access to Prospect Park on the Franklin Avenue Shuttle (S) Train in just 3 stops.