641 Classon AveBrooklyn, NY 11238

For Sale
$575,000

Thriving Bar, Liquor License, Huge Potential

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional Class A, 1,875 square foot bar in Brooklyn, NY, presents a remarkable investment opportunity. Located at 641 Classon Ave, 11238, this established business boasts a strong cash flow, a valuable liquor license permitting sales until 4 AM, and a loyal clientele built over a decade. The current lease, a NNN agreement, extends until June 30, 2033, offering 8.6 years of remaining term with 3% annual rent bumps. The current monthly rent is $7,988.68. The property features a fully built-out interior, including central air conditioning, private restrooms, freezer space, and high ceilings, making it a truly turnkey operation. Its prime location within a retail corridor ensures high visibility and foot traffic. The bar's impressive 155-person capacity and established online presence further enhance its appeal. Significant revenue growth potential exists through expansion into a restaurant concept or similar venture. This is a rare chance to acquire a profitable, well-regarded business with a proven track record and substantial upside. The asking price is $575,000, representing a compelling 63.29% cap rate. The property is currently 100% occupied.

Highlights

  • $575,000 asking price for a Class A, 1,875 SF bar with a liquor license.
  • Significant revenue growth potential through expansion or concept change.
  • Strong current cash flow.
  • Established online and social media presence.

Property Details for 641 Classon Ave

Property type
Other retail properties, Restaurants
Square Feet
1,875 SF
Class
A
Stories
1
Units
1

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6785521
Longitude
-73.9584608
641 Classon Ave, Brooklyn, New York

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641 Classon Ave
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