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181 Irving Ave 4,875 SF 100% Leased Retail Building Brooklyn, NY 11237 $2,957,108 ($606.59/SF) 5.88% Cap Rate
Investment Highlights
- Primary High Traffic Avenue, highly sought out by major chainstores, and franchises.
- Walkers Paradise
- The building itself houses two popular community destinations: Bushwick Bark and Milk & Pull Coffee Shop
- High Capitalization Rate - Ideal 1031 Exchange
- One Block from the DeKalb Ave Train Station
- Due to the growing young professional population, walkers paradise this commercial location is in demand for many Franchises.
Executive Summary
INVESTMENT PROPERTY/1031 EXCHANGE: I am pleased to present this great opportunity to purchase this well-maintained mixed use building for sale at a 5.88% capitalization rate. The High Net Operating income of $173,878 is ideal for a 1031 exchange.
The 3 story brick building is fully occupied. The building and all 6 units are in great condition. There are 4 modern residential (1 bedroom) apartments with new plumbing, electric, and wood floors above 2 commercial ground level storefronts. The modern, clean, finished basement with tiles is great for storage.This area is characterized by populated young professionals, and rapidly diversifying population with high pedestrian activity driven by its proximity to major transit hubs and local commercial "hot spots. : The storefronts are in what is described as "Bushwick's trendiest section," in huge demand by franchises due to its demographics, high visibility, and 1 block proximity to the train station, paradise walk score, and close proximity to Wyckoff Heights Hospital, Myrtle Avenue, and Kinickboker Ave. The building itself houses two popular community destinations: Bushwick Bark and Milk & Pull Coffee Shop
The 3 story brick building is fully occupied. The building and all 6 units are in great condition. There are 4 modern residential (1 bedroom) apartments with new plumbing, electric, and wood floors above 2 commercial ground level storefronts. The modern, clean, finished basement with tiles is great for storage.This area is characterized by populated young professionals, and rapidly diversifying population with high pedestrian activity driven by its proximity to major transit hubs and local commercial "hot spots. : The storefronts are in what is described as "Bushwick's trendiest section," in huge demand by franchises due to its demographics, high visibility, and 1 block proximity to the train station, paradise walk score, and close proximity to Wyckoff Heights Hospital, Myrtle Avenue, and Kinickboker Ave. The building itself houses two popular community destinations: Bushwick Bark and Milk & Pull Coffee Shop
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,875 SF
Building Class
C
Year Built
1931
Price
$2,957,108
Price Per SF
$606.59
Cap Rate
5.88%
NOI
$173,878
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.95
Lot Size
0.06 AC
Zoning
R6, Brooklyn (S4) - R6 ZONING with building square feet of 1198 and 1200 Sqft available air rights
Frontage
25’ on Irving Ave
Amenities
- Courtyard
- Fenced Lot
- Security System
- Storage Space
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03259-0003 | Improvements Assessment | $454,950 |
| Land Assessment | $7,200 | Total Assessment | $462,150 |
Property Taxes
Parcel Number
03259-0003
Land Assessment
$7,200
Improvements Assessment
$454,950
Total Assessment
$462,150
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181 Irving Ave
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