1622 Pitkin Ave
Brooklyn, NY 11212
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- CORNER RETAIL PROPERTY on a heavy pedestrian traffic Avenue. Neighboring tenants include: Ashley Stewart, Rainbow Shops, Rite Aid, Popular Bank
EXECUTIVE SUMMARY
Built in 1930, this 2-story plus basement retail building consists of 2,855± SF with 3500 SF of unused air rights, and is located on the Southeast corner of Pitkin Avenue and Thomas S Boyland Street, just blocks from the Sutter Avenue Station on the [3] train. Subject property has 1,855± SF of ground floor retail space, 1,000± SF of storage on the second floor, and 1,000± SF of basement storage. As-of-right, this property has 6,317± total buildable SF. GameStop has renewed their lease 3 times in the last 6 months of their lease.
*Tenant pays taxes above base year 2008
*Tenant pays taxes above base year 2008
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,855 SF
Building Class
C
Year Built
1930
Price
$1,900,000
Price Per SF
$665.50
Cap Rate
4.24%
NOI
$80,654
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.40
Lot Size
0.05 AC
Zoning
C4-3, Brooklyn (K2) - a general commercial zoning district that allows for a variety of commercial, residential, and mixed-use buildings
AMENITIES
- Signage
ABOUT 1622 PITKIN AVE , BROOKLYN, NY 11212
Built in 1930, this 2-story plus basement retail building consists of 2,855± SF and is located on the Southeast corner of Pitkin Avenue and Thomas S Boyland Street, just blocks from the Sutter Avenue Station on the [3] train. Subject property has 1,855± SF of ground floor retail space, 1,000± SF of storage on the second floor, and 1,000± SF of basement storage. As-of-right, this property has 6,317± total buildable SF. *Tenant pays taxes above base year 2008
PROPERTY TAXES
| Parcel Number | 03519-0032 | Improvements Assessment | $285,300 |
| Land Assessment | $54,450 | Total Assessment | $339,750 |
