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86 4th Ave 4,200 SF 100% Leased Retail Building Brooklyn, NY 11217 $3,500,000 ($833.33/SF) 6.50% Cap Rate
Investment Highlights
- 86 4th Avenue is on the Corner of St. Marks Place in Gowanus, Brooklyn. The entire building will be delivered vacant.
- The prime, corner, fully free market mixed-use property currently configured as 3 apartments and 1 store and is built approximately 4,200 square feet.
- As-is, each apartment features North, East and West facing windows, providing ample sunlight for reconfiguration.
- 86 4th Avenue is steps away from Atlantic Terminal, Barclay’s Center, and excellent retail on 5th Avenue.
- The property is in the Gowanus Special Purpose zoning district and is zoned C4-4D, which has an R9A equivalent
- Significant value can be created through renovation or use of the air rights.
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 86 4th Avenue, on the corner of St. Marks Place in Gowanus, Brooklyn. The entire building will be delivered vacant.
The prime, corner, fully free market mixed-use property currently configured as 3 apartments and 1 store and is built approximately 4,200 square feet. The property dimensions are 21 ft x 50 ft and it sits on a 21 x 80 ft lot.
The property is in the Gowanus Special Purpose zoning district and is zoned C4-4D, which has an R9A equivalent which has an 8.50 residential FAR, a 6.5 community facility FAR and a 3.4 retail/entertainment FAR. The property features approximately 10,080 square feet of additional air rights for residential development.
As-is, each apartment features North, East and West facing windows, providing ample sunlight for reconfiguration. Significant value can be created through renovation or use of the air rights.
86 4th Avenue is steps away from Atlantic Terminal, Barclay’s Center, and excellent retail on 5th Avenue.
The prime, corner, fully free market mixed-use property currently configured as 3 apartments and 1 store and is built approximately 4,200 square feet. The property dimensions are 21 ft x 50 ft and it sits on a 21 x 80 ft lot.
The property is in the Gowanus Special Purpose zoning district and is zoned C4-4D, which has an R9A equivalent which has an 8.50 residential FAR, a 6.5 community facility FAR and a 3.4 retail/entertainment FAR. The property features approximately 10,080 square feet of additional air rights for residential development.
As-is, each apartment features North, East and West facing windows, providing ample sunlight for reconfiguration. Significant value can be created through renovation or use of the air rights.
86 4th Avenue is steps away from Atlantic Terminal, Barclay’s Center, and excellent retail on 5th Avenue.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,200 SF
Building Class
C
Year Built
1931
Price
$3,500,000
Price Per SF
$833.33
Cap Rate
6.50%
NOI
$227,500
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.50
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
C4-4D (R9A Equivalent) - Allows for a variety of uses, including commercial buildings, residential buildings, and community facilities
Frontage
21’ on 4Th Ave
Amenities
- Bus Line
- Commuter Rail
- Corner Lot
- Metro/Subway
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Happy Cleaners
- Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Happy Cleaners | Services | - | - | - |
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00395-0032 | Improvements Assessment | $1,047,150 |
| Land Assessment | $6,750 | Total Assessment | $1,053,900 |
Property Taxes
Parcel Number
00395-0032
Land Assessment
$6,750
Improvements Assessment
$1,047,150
Total Assessment
$1,053,900
Contacts
-
Adam Lobel -
Derek Bestreich -
Luke Sproviero -
Toby Waring -
Investment Property Realty Group
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