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378-382 Union Ave - 380 Union Avenue 4,156 SF Retail Condo Unit Offered at $3,800,000 in Brooklyn, NY 11211
INVESTMENT HIGHLIGHTS
- Long Term Lease
- 6% Cap Rate with Increases
- Corner Building in Prime Williamsburg
PROPERTY FACTS Under Contract
| Total Building Size | 37,030 SF | Typical Floor Size | 5,072 SF |
| Property Type | Multifamily (Condo) | Year Built | 1931 |
| Property Subtype | Apartment | Lot Size | 0.28 AC |
| Building Class | C | Opportunity Zone |
Yes
|
| Floors | 6 | ||
| Zoning | R6 - a medium-density residential zoning district in New York City that covers large areas of Brooklyn, Queens, and the Bronx, as well as some parts of Man | ||
| Total Building Size | 37,030 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 6 |
| Typical Floor Size | 5,072 SF |
| Year Built | 1931 |
| Lot Size | 0.28 AC |
| Opportunity Zone |
Yes |
| Zoning | R6 - a medium-density residential zoning district in New York City that covers large areas of Brooklyn, Queens, and the Bronx, as well as some parts of Man |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Hardwood Floors
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Fitness Center
- Tenant Controlled HVAC
- Doorman
- Storage Space
- Elevator
1 UNIT AVAILABLE
Unit 101
| Unit Size | 4,156 SF | Sale Status | Under Contract |
| Price | $3,800,000 | Cap Rate | 6.58% |
| Price Per SF | $914.34 | NOI | $249,937.50 |
| Condo Use | Retail | Sale Conditions | 1031 Exchange, Build to Suit |
| Sale Type | Investment |
| Unit Size | 4,156 SF |
| Price | $3,800,000 |
| Price Per SF | $914.34 |
| Condo Use | Retail |
| Sale Type | Investment |
| Sale Status | Under Contract |
| Cap Rate | 6.58% |
| NOI | $249,937.50 |
| Sale Conditions | 1031 Exchange, Build to Suit |
DESCRIPTION
FULLY LEASED, LONG TERM, TRIPLE NET, CREDIT TENANT RETAIL CONDO IN PRIME WILLIAMSBURG.
380 Union Avenue- corner of Powers Street and Union, is a Single Tenant Retail Condo Occupied by MB2 DENTAL. With 7 years left and another 5-year Option, we are asking an existing 6.5% CAP with Increases. Call Fred Bijou for more information- Fred@bijouequities.com
SALE NOTES
Key Highlights:
Address: 380 Union Avenue, Williamsburg, Brooklyn
Location: Prime corner location at bustling Union Ave and tree-lined Powers Street,
Square Footage: 4,156 SF of prime retail space in a luxury condo building.
Tenant: Metropolitan Dental Arts, a well-established dental practice with seven years remaining on their lease (expires in 2031) and one five-year renewal option.
Current Rent: $24,560 per month, approximately $69 per square foot.
Connectivity: Close to L, G, and J/M/Z trains, offering quick access to downtown Manhattan.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 31 | - | - |
Presented by
Bijou Equities
378-382 Union Ave - 380 Union Avenue
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