Entrez dans la "Deal Room" pour accéder aux autres documents relatifs à cette propriété.
|Année de construction||1933|
|Taille du terrain||
|Number of units||3|
Description de la propriété
JLL has been hired on an exclusive basis to arrange for the sale of 1401-1425 Newkirk Avenue, an approximately 23,035 SF cash-flowing retail property in Ditmas Park/Flatbush,
Brooklyn, NY. The property presents a sizeable, fully occupied retail opportunity with substantial redevelopment potential. Encompassing an entire blockfront along Newkirk Avenue
between Marlborough Road and Rugby Road, the property features 480’ of valuable wraparound frontage.
Informations clés concernant l'investissement
The existing single-story building is currently anchored by Walgreens with additional leases to a Maimonides Medical Center and Double Apple Laundromat. The Walgreens lease
expires in July 2025 with 3 five-year options, while the medical center and laundromat are committed to the space through November 2027 and July 2030, respectively. The tenants are
required to pay for majority of the real estate taxes and insurance expenses, and as a result, the building currently generates approximately $920,683 in annual net operating income.
Furthermore, the site is situated in an R6A zoning district along with a C2-4 commercial overlay, which permits residential, commercial and/or community facility development. This zoning designation permits an as-of-right development of up to approximately 76,752 buildable square feet, presenting the opportunity for significant redevelopment in a prominent location.