646-827-9968
, Brooklyn, NY for Sale
FOR SALE
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8712-8724 4th Ave
Brooklyn, NY
Bay Ridge


HIGHLIGHTS

  • As of right ZFA 27,125 (Development Rights Upon Zoning Lot Merger)

OVERVIEW

The property comprises a two-lot corner assemblage with a combined footprint of approximately 12,000 SF. Lot 41 is currently improved by a two-story 8,875 SF commercial building with a rear 5-car parking lot. The building is net-leased to CityMD until August 2028 with a 5-year option and NOI of $360,000. The corner lot 45 hosts a 2,400 SF single-story bank building with a drive-thru and 6-car parking lot. The property is net-leased to Citizens Bank until 2027 and generates an NOI of $141,300 presenting a covered land play. 8712-8724 4th Avenue presents a very unique opportunity to acquire a pair turn-key net-leased assets with minimal maintenance, and retain the option to develop the corner lot in the near future into a mixed-use development with 27,125 ZFA by means of a zoning lot merger.

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Alex SvetlakouRipco Real EstateMore Info
646-827-9968

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Alex SvetlakouRipco Real EstateMore Info
646-827-9968

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