8501 New Utrecht Ave - Storefront Retail/Office FOR SALE


Brooklyn, NY 11214
$6,500,000 USD
212-430-5229
8501 New Utrecht Ave, Brooklyn, NY for Sale
$6,500,000 USD
Storefront Retail/Office - FOR SALE
1/45
null | 6.75% Cap Rate

8501 New Utrecht Ave
Brooklyn, NY 11214


HIGHLIGHTS

  • 17,760 SF Three-Story Property Located Directly Across from the Subway
  • Corner of New Utrecht Avenue & 85th Street
  • 131 of Frontage Along New Utrecht Avenue
  • 1st & 2nd Floors Net-Leased to Day Care Center With 3% Annual Increases
  • Opportunity to Lease Out or Use the 5,920 SF Lower-Level Space

OVERVIEW

The subject offering is a 17,760 SF commercial property located on the corner of New Utrecht Avenue and 85th Street in Brooklyn’s Bensonhurst neighborhood. The property has 131 feet of frontage along New Utrecht Avenue, located directly across from the entrance to the subway (D Train – 18th Avenue Station). The asset is surrounded by local and national retailers, including Marshall’s, CVS, Dunkin Donuts and PM Pediatrics. The subject offering is located just steps away from 86th Street, the main retail corridor, and the most heavily traveled street, in Bensonhurst. 1st Choice Social Adult Day Care leases the ground floor and the second floor on a 7-year NN lease that runs through February 2026. Their lease has 3% annual increases and one (3) three-year renewal option. They are responsible for reimbursing 67% of the real estate taxes. All utilities are billed directly to the tenant. There is an elevator leading to the second floor, the tenant is responsible for the elevator maintenance directly. 1st Choice Social Adult Day Care is a full-service adult day care center with the capacity to host 100-120 seniors per shift. The 5,920 SF lower-level is a fully built-out conference center with 10-foot ceilings and an open floor layout. The space will be delivered vacant at closing. This is an opportunity to acquire a potential user/value-add opportunity directly next to the subway in South Brooklyn. The asset benefits from strong frontage and outstanding Bensonhurst demographics

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$366 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Net-Leased w/Upside - User/Value-Add Deal

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

R5 / C1-2 Overlay

APN/PARCEL ID

06344-0014

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
212-430-5229

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Scott PlaskyMarcus & MillichapMore Info
212-430-5229

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