139 42Nd StBrooklyn, NY 11232

For Sale
$8,750,000

High-Yield Brooklyn Warehouse Trio

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents three Class A industrial buildings totaling 16,200 square feet in Brooklyn's thriving Sunset Park neighborhood. Currently 100% occupied by a single corporate tenant under a gross lease with a remaining term of approximately 6.6 years (commencing July 1, 2021, and expiring June 30, 2031), this stabilized asset boasts a strong 4.06% cap rate and a substantial net operating income (NOI) of $355,000. The property features three dock-high doors, ceiling heights ranging from 15 to 18 feet, and 15,000 square feet of available air rights. Situated on a 15,000 square foot lot within the M3-1 zoning district, the property benefits from its strategic location near major developments, including Steiner Studios' expansion and the Industry City complex. The lease includes annual rent bumps of 3.5%, ensuring consistent income growth. This is a rare opportunity to acquire a well-maintained, high-performing industrial portfolio in a rapidly appreciating area of Brooklyn, offering significant long-term value and potential for future appreciation. The asking price is $8,750,000, translating to a price per square foot of $540.12. The tenant is secured by a corporate guarantee.

Highlights

  • Three Class A industrial buildings totaling 16,200 square feet, 100% occupied by a single corporate tenant under a gross lease with 6.6 years remaining.
  • Located in Sunset Park, Brooklyn, near major developments including Steiner Studios expansion and Industry City.
  • Easily managed asset with a strong 4.06% cap rate and $355,000 NOI.

Property Details for 139 42Nd St

Property type
Other warehouses, Refrigeration & cold storage
Square Feet
16,200 SF
Class
A
Buildings
3
Stories
1
Units
3

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.65431656
Longitude
-74.01349533
139 42Nd St, Brooklyn, New York

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139 42Nd St
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