1182 Flushing Ave

The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 1182 Flushing Avenue, a three story, 43,600 square foot building located on Flushing Avenue in East Williamsburg, Brooklyn, NY. It is situated on a 100 ft x 165 ft lot (Block: 03167 Lot: 0026), zoned M1-1. The property is located within an Industrial Business Zone and a Qualified Opportunity Zone. Each floor is approximately 13,000 square feet of footprint. The 1st floor warehouse space features ~15? ceiling clearance, a small retail showroom, and 2 rear loading docks. The 2nd floor is partitioned with sheetrock/plywood into small artist studios of varying sizes and dimensions. There is 3,250 square feet of semi-grade (non-cellar) basement space which is used as a tech office and storage area. Each level is accessible by a freight elevator with an 8,000 pound capacity. The building is partially tenanted, occupying the basement space and artist studios on the 2nd floor (see Rent Roll). The current leases require the landlord to pay all operating expenses. The building has the potential to be delivered completely vacant in Q1 2025 for owner use or redevelopment, or immediate upside can be realized by stabilizing the rents at market with new leases that allocate expense burdens onto the tenants. The property is strategically located close to both the Brooklyn-Queens Expressway and the Long Island Expressway, allowing ease of freight access to Manhattan and the Boroughs, and Long Island. The Jefferson Street L subway station is right around the corner, making this an ideal location for those using public transportation. The Williamsburg/Bushwick border is a thriving location for industrial businesses, creative uses, entertainment venues and experiential retail, making this an excellent opportunity for users and investors to purchase a large commercial building in a well-located area of New York City.

• 43,600 square foot 3-story commercial building, with a semi grade basement level
• First floor features 13,000 square feet of industrial warehouse space, with
approximately 16 foot ceiling clearance
• Second and third floors are also roughly 13,000 square feet, configured as
artist studios and office space
• Two rear loading docks on Jefferson Street service the 1st floor warehouse
• Freight elevator accesses the each level with 8,000 lbs capacity
• 100 feet of frontage on Flushing Avenue and Jefferson Street
• Right around the corner from the Jefferson Street L subway station
• In-place leases with termination clauses allows the building to be vacant in Q1 2025
• Below-market leases with no tenant expense burden offers opportunity for
immediate upside
• In a Qualified Opportunity Zone
Located in East Williamsburg, a thriving area for industrial and creative offices