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318 Knickerbocker Ave - 318-334 Knickerbocker Ave, Retail Condo 21,835 SF Retail Condo Unit Offered at $10,900,000 in Brooklyn, NY 11237

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Investment Highlights

Prime Bushwick Retail Corridor - high foot traffic and highly visible corner location
Service-Oriented & Traditional Tenant Mix - Fully leased to Oak Street Health, laundromat, and clothing retailers
Strong Demographics & Demand Drivers

ICIP Abatement - expiration in 2035
Excellent Transit Accessibility - within a few short blocks from the L & M subway lines

1 Unit Available

Unit 318-334
21,835 SF
Retail
$10,900,000 ($499.20/SF)
$794,041

Sale Type	Investment or Owner User	Sale Conditions	Bulk/Portfolio Sale
Cap Rate	7.28%

Sale Type	Investment or Owner User
Cap Rate	7.28%
Sale Conditions	Bulk/Portfolio Sale

Description

Fully leased and cash-flowing retail condo package along Knickerbocker Avenue. The package includes four units with a weighted average lease term (WALT) of 6.54 years.

Sale Notes

PRIME BUSHWICK RETAIL CORRIDOR
Positioned on Knickerbocker Avenue — a high-visibility, high-foot-traffic corridor in the heart of Bushwick — surrounded by a dynamic mix of national retailers and local businesses.

ICIP ABATEMENT
The Assemblage benefits from a 25-year ICIP Tax Abatement, which is due to expire in 2035.

SERVICE ORIENTED & TRADITIONAL RETAIL TENANCY MIX
Current tenants include Oak Street Health
[acquired by CVS in 2023], which operates as a primary healthcare facility for the elderly, along with a laundromat and a clothing retailer serving the local community.

EXCELLENT TRANSIT ACCESSIBILIT Y
Located within short blocks from the L and M subway lines, providing quick access to Manhattan and other parts of Brooklyn —
a key driver of both residential and retail demand.

STRONG DEMOGRAPHICS &
DEMAND DRIVERS
Located in one of Brooklyn’s fastest-evolving neighborhoods, fueled by a growing population of young professionals, artists, and creatives. Recent years showed a strong increase in residential demand with median gross rents exceeding a 68% increase from 2006 to 2023 - higher than the city average.

318-334 Knickerbocker Ave_Ripco OM

Unit	Unit Size	Condo Use	Price	NOI
Unit 318-334	21,835 SF	Retail	$10,900,000 ($499.20/SF)	$794,041

Unit Size

21,835 SF

Condo Use

Retail

Price

$10,900,000 ($499.20/SF)

NOI

$794,041

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Unit Size	21,835 SF
Condo Use	Retail
Price	$10,900,000 ($499.20/SF)
NOI	$794,041
Sale Type	Investment or Owner User
Cap Rate	7.28%
Sale Conditions	Bulk/Portfolio Sale
Description
Fully leased and cash-flowing retail condo package along Knickerbocker Avenue. The package includes four units with a weighted average lease term (WALT) of 6.54 years.</li></ul>
Sale Notes
PRIME BUSHWICK RETAIL CORRIDOR<br> Positioned on Knickerbocker Avenue — a high-visibility, high-foot-traffic corridor in the heart of Bushwick — surrounded by a dynamic mix of national retailers and local businesses.<br> <br> ICIP ABATEMENT <br> The Assemblage benefits from a 25-year ICIP Tax Abatement, which is due to expire in 2035.<br> <br> SERVICE ORIENTED & TRADITIONAL RETAIL TENANCY MIX<br> Current tenants include Oak Street Health <br> [acquired by CVS in 2023], which operates as a primary healthcare facility for the elderly, along with a laundromat and a clothing retailer serving the local community.<br> <br> EXCELLENT TRANSIT ACCESSIBILIT Y<br> Located within short blocks from the L and M subway lines, providing quick access to Manhattan and other parts of Brooklyn — <br> a key driver of both residential and retail demand.<br> <br> STRONG DEMOGRAPHICS & <br> DEMAND DRIVERS<br> Located in one of Brooklyn’s fastest-evolving neighborhoods, fueled by a growing population of young professionals, artists, and creatives. Recent years showed a strong increase in residential demand with median gross rents exceeding a 68% increase from 2006 to 2023 - higher than the city average.</li></ul>

318-334 Knickerbocker Ave_Ripco OM

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.

Total Building Size	42,390 SF	Typical Floor Size	7,526 SF
Property Type	Multifamily (Condo)	Year Built	1931
Property Subtype	Apartment	Lot Size	0.34 AC
Building Class	B	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Floors	4
Zoning	R6 - Medium density residential district

Total Building Size	42,390 SF
Property Type	Multifamily (Condo)
Property Subtype	Apartment
Building Class	B
Floors	4
Typical Floor Size	7,526 SF
Year Built	1931
Lot Size	0.34 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R6 - Medium density residential district