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1645 Pitkin Ave 10,400 SF Retail Building Brooklyn, NY 11212 $8,000,000 ($769.23/SF) 6.13% Cap Rate
INVESTMENT HIGHLIGHTS
- Surrounded by national tenants including Walgreens, McDonald’s, and Foot Locker
- Prime Pitkin Avenue frontage in dense Brooklyn retail corridor
EXECUTIVE SUMMARY
Fully leased to JD Sports, a FTSE 100 global retailer with $15B+ in revenue
Long-term Modified Gross Lease through 2032 with renewal options
Over 26,000 SF of unused air rights for potential future development
Long-term Modified Gross Lease through 2032 with renewal options
Over 26,000 SF of unused air rights for potential future development
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
10,400 SF
Building Class
C
Year Built
1930
Price
$8,000,000
Price Per SF
$769.23
Cap Rate
6.13%
NOI
$490,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.92
Lot Size
0.26 AC
Zoning
C4-3 - Medium density commercial district
Frontage
40’ on Pitkin Ave
AMENITIES
- Signalized Intersection
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03498-0001 | Improvements Assessment | $1,179,000 |
| Land Assessment | $244,350 | Total Assessment | $1,423,350 |
PROPERTY TAXES
Parcel Number
03498-0001
Land Assessment
$244,350
Improvements Assessment
$1,179,000
Total Assessment
$1,423,350
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1645 Pitkin Ave
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