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600 E 16th St 3,360 SF Retail Building Brooklyn, NY 11226 $1,900,000 ($565.48/SF) 6.45% Cap Rate
Executive Summary
4 Newkirk Plaza offers a rare, income-producing mixed-use asset — two apartments and a ground-floor retail restaurant — sitting directly at the entrance of the Newkirk Plaza B/Q subway station in Ditmas Park/Flatbush, Brooklyn. The plaza sees over 10,000 visitors pass through daily, delivering exceptional built-in foot traffic and visibility for the retail tenant, while residents enjoy express B and all-times Q service straight into Manhattan. The surrounding Ditmas Park area is one of Brooklyn's most admired, transit-rich residential enclaves, anchoring strong long-term demand. This is a compelling combination of stable current income and upside in a supply-constrained, transit-anchored submarket.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,360 SF
Building Class
C
Year Built
1933
Price
$1,900,000
Price Per SF
$565.48
Cap Rate
6.45%
NOI
$122,500
Tenancy
Single
Building Height
3 Stories
Building FAR
2.57
Lot Size
0.03 AC
Zoning
R6 w/ C1-3 Overlay (S2)
Frontage
Amenities
- Commuter Rail
- Restaurant
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 05237-0003 | Improvements Assessment | $128,250 |
| Land Assessment | $65,250 | Total Assessment | $193,500 |
Property Taxes
Parcel Number
05237-0003
Land Assessment
$65,250
Improvements Assessment
$128,250
Total Assessment
$193,500
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600 E 16th St