487 Atlantic Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11217
$3,700,000 USD
718-606-7058
487 Atlantic Ave, Brooklyn, NY for Sale
$3,700,000 USD
Storefront Retail/Residential - FOR SALE
1/15
null | Request Cap Rate

487 Atlantic Ave
Brooklyn, NY 11217


HIGHLIGHTS

  • 100% Free Market
  • 23 feet of frontage on one of the best stretches of Brooklyn’s most popular retail corridors
  • 4,600+ SF of additional air rights
  • The residential units provide a value-add opportunity through light cosmetic upgrades
  • Tax Class 1 designation, limiting assessment increases to 6% annually or 20% over five years
  • Prime Boerum Hill Location steps from Brooklyn Heights and the Barclays Center

OVERVIEW

Avison Young, as the exclusive agent, is pleased to offer for sale 487 Atlantic Avenue (the “Property”), a 3-story mixed-use walk-up building featuring 23’ of frontage on the north side of Atlantic Avenue between Nevins Street and 3rd Avenue in Boerum Hill. The Property spans approximately 3,601± square and consists of two (2) residential units above one (1) ground floor retail space. The retail unit is occupied by Eastville Comedy Club through 2032.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$1,027 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

487 Atlantic Avenue

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R7A/C2-4

APN/PARCEL ID

00179-0047

ASK ABOUT THIS PROPERTY

Patrick MadiganAvison YoungMore Info
718-606-7058

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Patrick MadiganAvison YoungMore Info
718-606-7058

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