268 Bay Ridge AveBrooklyn, NY 11220

Property Details for 268 Bay Ridge Ave

Year built

2015

Lot size

0.19 AC

Property size (Sq ft)

153 SF

Zone code

R5B

Property type

Retail properties

Property subtype

Parking lots & garages

APN

05871-1016

APU

58711016

Description

This exceptional commercial property at 268 Bay Ridge Avenue in Brooklyn, New York, presents a lucrative investment opportunity. The three-story, 6,300 square foot building sits on an 8,422 square foot lot and is comprised of three units. The first floor boasts approximately 5,100 square feet of commercial retail space, perfectly suited for a variety of businesses, and an additional 1,200 square feet of community facility space. The building also includes a cellar level with a convenient indoor parking garage offering 10 parking spaces. A significant advantage is the remaining ten years of tax abatement, offering substantial financial benefits to the owner. This prime location in the heart of Bay Ridge offers unparalleled accessibility. The property is conveniently located near the R and N train station and the B9 bus route, providing easy access to 8th Avenue and Chinatown. Furthermore, it's situated close to the vibrant 4th and 5th Avenue commercial districts, which are home to a diverse range of amenities including supermarkets, restaurants, pharmacies, parks, and banks. This is a rare chance to acquire a well-positioned commercial property with significant upside potential in a thriving Brooklyn neighborhood. The building's versatile layout and ample parking make it an ideal investment for both established businesses and new ventures. Don't miss this opportunity to establish your business in this highly desirable area. The asking price is $3,500,000. Ceiling height specifications are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $37,184

  6.5%

  $34,324

  7%

  $31,872

• Comparable approach

  Method

  Valuation

  Relative Method

  $50,377

  Geo Method

  $50,377

• Alternative Use

  Use

  Valuation

  Residential

  $28,954

  Hospitality

  $26,521

  Educational

  $22,065

  Medical

  $22,824

  Retail

  $34,324

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6357

Longitude

-74.0267

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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