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1622 Pitkin Ave 3,771 SF 100% Leased Retail Building Brooklyn, NY 11212 $1,495,000 ($396.45/SF)
Investment Highlights
- ±6,317 Buildable SF
- Immediate proximity to the Sutter Avenue L train station
- Dual frontage along Pitkin Avenue and Thomas S. Boyland Street
- The property sits at Pitkin Avenue and Thomas S. Boyland Street, benefiting from high vehicular and pedestrian flow
Executive Summary
1622 Pitkin Avenue is a two-story retail building positioned on a prime four-way hard corner at Pitkin Avenue and Thomas S. Boyland Street. 2,855 Gross SF. 1,858 Lot SF. Delivered fully vacant, the property offers an owner-user or investor the opportunity to re-tenant at market rates, reposition the asset, and create value through new retail occupancy. Zoning and FAR permit the development of approximately 4 residential units. Fully vacant asset positioned for market-rate leasing or owner occupancy. High-traffic intersection near the Sutter Avenue L train station. Improved basis following price adjustment enhances value-add upside
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
3,771 SF
Building Class
C
Year Built
1930
Price
$1,495,000
Price Per SF
$396.45
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.85
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
Frontage
Amenities
- Signage
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03519-0032 | Improvements Assessment | $302,400 |
| Land Assessment | $54,450 | Total Assessment | $356,850 |
Property Taxes
Parcel Number
03519-0032
Land Assessment
$54,450
Improvements Assessment
$302,400
Total Assessment
$356,850
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1622 Pitkin Ave