This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.
This Property is no longer advertised on LoopNet.com.

140 Montague St
Brooklyn, NY 11201

Property For Lease

Highlights

  • key money $400k negotiable
  • world famous location
  • 10 years remaining far below market lease ($8200/month)
  • community board approval in place for liquor license

PROPERTY FACTS

Property Type Retail
Property Subtype Storefront Retail/Residential
Gross Leasable Area 4,119 SF
Year Built 2000

About the Property

The subject property is a below market lease and restaurant for sale for $400,000 key money. Gallitos kitchen is a Mexican style restaurant with 58 person seating. The kitchen is fully built with updated equipment and the 1500 sqft dinning space also has a full basement with walk-in boxes and storage. Some other details include: Landlord has an approval letter from the community board for a 2am full liquor license. There are 10 years remaining on the lease with is currently only $8200/month. (Spaces on this block rent for $15,000) When you keep it as a restaurant or change to a different business, there are no other ground level storefronts on this block. Lease contains a good guy clause and 3% escalations. The owner will also sell this together with another restaurant at 413 Myrtle Ave, GB Tavern which has a full 2am liquor license in place. Key money for that is $300k

  • Listing ID: 10941683

  • Date on Market: 12/12/2017

  • Last Updated:

  • Address: 140 Montague St, Brooklyn, NY 11201

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}