254 Scholes StBrooklyn, NY 11206

For Sale
$13,500,000

Prime East Williamsburg warehouse, 27,500 SF, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fully leased, 27,500-square-foot warehouse property situated in the desirable East Williamsburg section of Brooklyn, New York. The property, located at 254 Scholes Street, zip code 11206, comprises seven contiguous lots boasting 150 feet of frontage on Scholes Street and 125 feet on Meserole Street. Currently occupied by Pay-O-Matic Corp. under a triple-net (NNN) lease, the property generates a substantial net operating income (NOI) of $409,772 annually, with a 3% annual rent escalation clause. The existing lease expires November 30, 2024, but includes a valuable five-year option for the tenant commencing December 2024. The property features three existing warehouse buildings: one 10,000 square feet with an additional 2,500 square feet on a second floor

Highlights

  • Fully leased 27,500 SF warehouse in desirable East Williamsburg, Brooklyn.
  • Triple-net (NNN) lease with $409,772 annual NOI and 3% annual rent escalations.
  • Lease expires November 2024, with a five-year tenant option.
  • Property can be delivered vacant.

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.7089436
Longitude
-73.9383242
254 Scholes St, Brooklyn, New York

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254 Scholes St
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