388 Nostrand Ave - Loft/Creative Space FOR SALE


Brooklyn, NY 11216- Bedford-Stuyvesant
$7,500,000 USD
917-456-9111
388 Nostrand Ave, Brooklyn, NY for Sale
$7,500,000 USD
Loft/Creative Space - FOR SALE
1/4
null | Request Cap Rate

388 Nostrand Ave
Brooklyn, NY 11216
Bedford-Stuyvesant


HIGHLIGHTS

  • High foot traffic and visibility
  • Close to subway, bus lines and highways
  • Close to all conveniences and hot spots
  • Huge Corner property with extensive property frontage
  • Attached to an available vacant lot with opportunity for expansion
  • Potential Tax Advantages

OVERVIEW

GEM IN BUSTLING BEDSTUY NEAR TRAINS AND ALL CONVENIENCES!!! This is a remarkable Newly Renovated Romanesque Revival historic building consisting of two (potentially three) retail units (approx. 2500 SF) on the ground floor and huge spaces on the second and third floors (approx. 7500 SF) plus over 1000 SF of usable space in basement. The building is equipped with ultra-modern finishes yet preserving original details. There are 28-foot vaulted ceilings as well as new over-sized windows, new ceramic tiles and ceiling fans. The building is ADA compliant and equipped with a brand-new passenger elevator, multiple bathrooms on each floor, brand new state of the art security gates and two stairwells, one at each side of the building. The new AC/Heating system is electric and there are separate gas and electric meters for each space. Additionally, there are new gas space heaters on each floor. The space can easily be vented. The basement is very spacious with high ceilings and three storage rooms. The property boasts approximately 130 feet of wrap-around frontage. The property is surrounded by new residential and mixed-use development projects that are driving strong pricing growth. It has the potential for commercial condo development for those seeking lower renovation costs. The property can be expanded via a bundle deal with the available adjacent lot/development site (1875 SF with 5625 BSF) for an additional 2M, negotiable. DON'T MISS THIS UNIQUE OPPORTUNITY TO OWN IN RAPIDLY FLOURISHING BED-STUY! This property is located within an Opportunity Zone, allowing investors to maximize their potential benefits such as Tax Advantages and significant Property Value Appreciation due to development and revitalization. LOCATION HOT SPOTS: Bedford-Nostrand Ave subway, Brooklyn Botanical Gardens, Bklyn Children's Museum, Home Depot, Herbert Von King Park, Medgar Evers College, Pratt Institute, Blink Fitness, Planet Fitness PERFECT SPACE FOR CONDO DEVELOPMENT, MEDICAL OFFICE, URGENT CARE, DAYCARE/SENIORCARE CENTER, GYM, SPA SALON, RESTAURANT/CAFE, JUICE BAR, PIZZA SHOP, BAGEL SHOP, WEDDING CENTER, NON-PROFIT, BUSINESS OFFICE, THEATER, THRIFT SHOP, BOOK STORE, LEARNING CENTER OR SCHOOL, PRODUCE MARKET, FAST FOOD, PHARMACY & MORE! NEGOTIABLE! SEND IN YOUR OFFER TODAY!

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$667 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Zoned R6A / C2-4

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

ADD'L SUBTYPES

Storefront Retail/Residential, Medical, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

R6A

APN/PARCEL ID

01807-0056

ASK ABOUT THIS PROPERTY

Jamila HagebMasterKeyMore Info
917-456-9111

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Jamila HagebMasterKeyMore Info
917-456-9111

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.