1306 Atlantic Ave
Brooklyn, NY 11216
Mixed Use-12 Apartments over Store · Multifamily Property For Sale
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13 Units
Investment Highlights
- Long-Term Lease, 12 years left
- NOI: $344,111
- $462 per SF
- 5.42% Cap Rate
- Tenant pays 40% of taxes and 40% of water/sewer
- $488,462 per unit
Property Facts
| No. Units | 13 | Lot Size | 0.10 AC |
| Property Type | Multifamily | Building Size | 13,740 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1910 |
| Building Class | B | ||
| Zoning | R6gil | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 13,740 SF |
| No. Stories | 4 |
| Year Built | 1910 |
| Zoning | R6gil |
About 1306 ATLANTIC AVE , BROOKLYN, NY 11216
Westbridge Realty Group has been retained as the exclusive broker to sell 1306 Atlantic Avenue, aka 553 Nostrand Avenue, a 4-story corner mixed-use building in Crown Heights, Brooklyn. Built 42.5’ x 90’, the building spans 13,740 square feet and contains 12 apartments over 1 retail store, occupied by an organic food market. The food market is paying $16,320 / month with 12 years remaining on the lease and two 5 year options. They also pay 40% of the taxes and water bill. The property benefits from a stellar location on the corner of Atlantic Ave and Nostrand Ave in the Crown Heights section of Brooklyn. Over the last 5 years, gentrification has flooded the immediate area with the development of luxury condominiums and high-end retail tenants. The property is just steps away from the A and C subway trains.
Property Taxes
| Parcel Number | 01201-0004 | Improvements Assessment | $900,900 |
| Land Assessment | $26,100 | Total Assessment | $927,000 |
Property Taxes
