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- LoopNet Team
1245 Fulton St
Brooklyn, NY 11216
1245 Fulton Street · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Bus Line
- Signage
ABOUT 1245 FULTON ST , BROOKLYN, NY 11216
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a long-term leased newly-developed retail building located on the north side of Fulton Street between Arlington Place and Bedford Avenue. The building is 100% leased to Planet Fitness who pays $655,000 per year with 12.5% increases every five years and reimburses for 100% of the real estate taxes over base year 2014/2015. Their lease expires in December 2030 and they have one (1) five (5) year option at another 12.5% increase. Additionally, the property will benefit from a new 15-year ICAP tax abatement which nearly caps a buyer's future expenses for the period. Planet Fitness, a publically traded company with over 1,000 stores nationwide, carries a B1 credit rating (Moody's) and their lease features a full corporate guaranty. Bedstuy
PROPERTY TAXES
| Parcel Number | 01842-0047 | Improvements Assessment | $1,479,150 |
| Land Assessment | $286,200 | Total Assessment | $1,765,350 |
PROPERTY TAXES
