116 Avenue UBrooklyn, NY 11223

For Sale
$4,245,000

Prime Brooklyn Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional 6,000 square foot commercial building, located at 116 Avenue U in Brooklyn, NY (zip code 11223), presents a compelling investment opportunity. Situated on a 6,000 square foot lot, this property boasts a versatile layout suitable for various commercial uses, including office and restaurant spaces. The building features high ceilings ranging from 16 to 20 feet, providing ample space and potential for creative design. Currently occupied with a tenant under a triple net lease with seven years remaining, the lease covers 80% of property taxes, ensuring a stable income stream for the investor. The R5, C2-3 zoning allows for significant future development potential. Its prime location in Gravesend, near the N train and city bus lines, ensures high visibility and accessibility. This property is ideal for investors, developers, and those seeking a 1031 exchange opportunity. The asking price is $4,245,000. The building includes a basement, adding to its overall usable space. This is a rare chance to acquire a well-located, income-producing property with substantial upside potential in a thriving Brooklyn neighborhood.

Highlights

  • 6,000 SF commercial building on a 6,000 SF lot in Brooklyn, NY (11223).
  • Versatile layout suitable for office or restaurant use, featuring 16-20 ft. high ceilings.
  • Triple net lease with seven years remaining, covering 80% of property taxes.
  • R5, C2-3 zoning allows for significant future development.
  • Prime Gravesend location near public transportation.
  • Asking price: $4,245,000.

Property Details for 116 Avenue U

Property type
Other retail properties, Restaurants
Square Feet
6,000 SF
Units
1

Location Insight

City
Brooklyn
County
Kings (Brooklyn)
State
New York
Latitude
40.5959288
Longitude
-73.9798349
116 Avenue U, Brooklyn, New York

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116 Avenue U
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