247 Avenue U 6,400 SF Retail Building Brooklyn, NY 11223 $2,690,000 ($420.31/SF) 5% Cap Rate

Offered for sale is a fully leased, corner retail bank building located at 247 Ave U, Brooklyn, NY, occupied by Northfield Bank (NASDAQ: NFBK) under a long-term lease featuring rare 3% annual rent increases through June 30, 2033.
The property consists of a 6,400 square foot building over two levels, prominently positioned on a corner along Avenue U, a well-established Brooklyn retail corridor. The corner exposure provides strong visibility, durable tenancy, and long-term real estate fundamentals.
Northfield Bank (NASDAQ: NFBK) currently pays $249,999 in gross annual rent, generating a Net Operating Income of $134,502. The lease structure provides predictable cash flow with built-in annual growth, a feature that is increasingly difficult to find in today’s market.
The property is offered at an asking price of $2,800,000, representing a stabilized, low-management investment backed by a publicly traded financial institution in a supply-constrained Brooklyn market. This opportunity is well suited for 1031 exchange buyers, private investors, and long-term holders seeking durable income with annual rent growth.