4201-4209 Avenue UBrooklyn, NY 11230

For Sale
$3,500,000

10,000 SF, 100% Occupied, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional investment opportunity presents a 10,000 square foot, multi-tenant retail strip center located in Brooklyn, NY, at 4201-4209 Avenue U & 2175 Hendrickson Street. The property boasts 100 feet of frontage and is situated directly across from the prominent Kings Plaza Shopping Center, ensuring high visibility and foot traffic. The portfolio comprises four ground-floor retail stores, all currently leased at 100% occupancy, generating a substantial net operating income (NOI) of $235,256. The asking price is $3,500,000, representing a compelling 4.30% cap rate. Built in 1972, the two-story building features a total net rentable area of 10,000 square feet, with individual store sizes ranging from 2,653 to 4,350 square feet. The property benefits from flexible lease terms with demolition clauses allowing for re-tenanting opportunities. Conveniently located near major transportation, including the Avenue U Subway Station (2.0 miles) and a B3 bus stop directly in front, this property offers excellent accessibility. The zoning is R4, C2-2, and a Community Facility FAR bonus of 2.0 is available. Nearby landmarks include Floyd Bennett Field, Aviator Sports and Events Center, Marine Park, and Marine Park Golf Course. This is a rare opportunity to acquire a well-positioned, high-performing retail portfolio in a thriving Brooklyn location.

Highlights

  • 100' frontage, 10,000 SF corner retail strip center with four occupied ground floor retail stores.
  • 3,000 SF retail building (4201 Ave U) with two stores on a 50' x 60' lot.
  • 4,350 SF retail building (4209 Ave U) with two stores on a 50' x 60' lot.
  • 2,650 SF retail building (1275 Hendrickson St) connected to 4201 Ave U.
  • Leases contain demolition clauses for re-tenanting; 2.0 Community Facility FAR bonus.
  • Across from Kings Plaza Shopping Center.

Property Details for 4201-4209 Avenue U

Property type
Other retail properties, Individual retail properties
Square Feet
2,653 SF
Year Built
1972
Stories
2

Location Insight

City
Brooklyn
County
NY
State
New York
Latitude
40.6190629
Longitude
-73.9653715
4201-4209 Avenue U, Brooklyn, New York

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4201-4209 Avenue U
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