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3021-3043 Avenue V
Brooklyn, NY 11229
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Preliminary Redevelopment Plans: Conceptual design for ±109 residential units with ground-floor retail.
- Covered-Land Cash Flow: Existing retail strip provides carry income with flexible termination rights during redevelopment planning.
- R7D/C2-4 Development Scale: Approved rezoning allowing ±111k buildable SF, ideal for mixed-use with residential above ground-floor retail.
- Full Blockfront Exposure: 200’ along Avenue V with ~400’ combined frontage across three streets, enhancing visibility and future branding.
EXECUTIVE SUMMARY
Cushman & Wakefield is pleased to exclusively present for sale, 3033 Avenue V, Brooklyn. The subject asset is a prime Sheepshead Bay development opportunity comprising a full 200’ x 100’ blockfront parcel improved with a single-story retail strip. The site benefits from recently approved rezoning to R7D/C2-4 within an Mandatory Inclusionary Housing (MIH) area and features multi-street exposure with a combined ~400 linear feet of frontage.
Existing in-place retail provides covered-land cash flow offering investors and developers the ability to carry the site while preserving current income. Preliminary studies contemplate a mid-rise mixed-use program with residential over ground-floor retail and potential below-grade parking, aligning with neighborhood demand drivers along Nostrand Avenue, Avenue U, and Gerritsen Avenue.
Existing in-place retail provides covered-land cash flow offering investors and developers the ability to carry the site while preserving current income. Preliminary studies contemplate a mid-rise mixed-use program with residential over ground-floor retail and potential below-grade parking, aligning with neighborhood demand drivers along Nostrand Avenue, Avenue U, and Gerritsen Avenue.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront
Building Size
12,500 SF
Building Class
B
Year Built
1950
Price
$13,500,000
Price Per SF
$1,080
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.62
Lot Size
0.46 AC
Zoning
R7D / C2-4 - Recently Rezoned to R7D / C2-4, Allowing for 110,800 SF Buildable Sq.Ft. (ZFA
Frontage
200’ on Avenue V
PROPERTY TAXES
| Parcel Number | 07367-0036 | Improvements Assessment | $1,108,800 |
| Land Assessment | $243,000 | Total Assessment | $1,351,800 |
PROPERTY TAXES
Parcel Number
07367-0036
Land Assessment
$243,000
Improvements Assessment
$1,108,800
Total Assessment
$1,351,800
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