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234 Atlantic Ave 2,268 SF Vacant Retail Building Brooklyn, NY 11201 $2,700,000 ($1,190.48/SF) 6.43% Cap Rate
INVESTMENT HIGHLIGHTS
- Located on the south side of Atlantic Avenue between Court Street and Boerum Place 278-32
EXECUTIVE SUMMARY
Douglas Elliman Commercial has been exclusively retained by ownership to market for sale 234 Atlantic Avenue, Brooklyn, NY.
The 4-story building is currently configured as 2 residential units and 1 ground level retail unit. Continuous ownership for 86 years this mixed-use building has been maintained and updated to deliver consistent retail and residential rental income. Delivered vacant, the building has strong potential for owner-user or as investment providing potential upside from an additional 3rd apartment or updating the basement to service the Retail as accessory use.
Located on the active retail corridor between Court Street and Boerum Place. the center of Brooklyn's most vibrant neighborhoods: Cobble Hill - Boerum Hill - Brooklyn Heights - Downtown Brooklyn. Nearby neighbors include: 5 Below, Michael’s, Trader Joe’s; Starbucks, Sephora, Soul Cycle, Shelsky’s, Walgreens. Transportation is within a 3 min walk to Borough Hall/ Court Street Train Station: 2/3/4/5/R Trains.
Please contact broker to discuss details.
The 4-story building is currently configured as 2 residential units and 1 ground level retail unit. Continuous ownership for 86 years this mixed-use building has been maintained and updated to deliver consistent retail and residential rental income. Delivered vacant, the building has strong potential for owner-user or as investment providing potential upside from an additional 3rd apartment or updating the basement to service the Retail as accessory use.
Located on the active retail corridor between Court Street and Boerum Place. the center of Brooklyn's most vibrant neighborhoods: Cobble Hill - Boerum Hill - Brooklyn Heights - Downtown Brooklyn. Nearby neighbors include: 5 Below, Michael’s, Trader Joe’s; Starbucks, Sephora, Soul Cycle, Shelsky’s, Walgreens. Transportation is within a 3 min walk to Borough Hall/ Court Street Train Station: 2/3/4/5/R Trains.
Please contact broker to discuss details.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,268 SF
Building Class
C
Year Built
1910
Price
$2,700,000
Price Per SF
$1,190.48
Cap Rate
6.43%
NOI
$173,616
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
9’
Building FAR
2.65
Lot Size
0.02 AC
Zoning
R6A, C2-4, DB - R6 - Medium density residential district // C2 - Commercial district predominantly residential in character
Frontage
26’ on Atlantic Ave
AMENITIES
- Bus Line
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00278-0032 | Improvements Assessment | $138,540 |
| Land Assessment | $8,040 | Total Assessment | $146,580 |
PROPERTY TAXES
Parcel Number
00278-0032
Land Assessment
$8,040
Improvements Assessment
$138,540
Total Assessment
$146,580
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