220 Atlantic Ave
1,500 SF 100% Leased Retail Building Brooklyn, NY 11201 $4,195,000 ($2,797/SF) 6.98% Cap Rate
INVESTMENT HIGHLIGHTS
- 2nd & 3rd floor comprises of two free market 2 bedroom apartments, which include washer/dryer, central air and an outdoor deck (flr 2).
- Commissary Kitchen can fit up to 10-15 cooks and features a wide range of smallwares and cooking equipment (info upon request).
- Commissary Kitchen comprised of 2 levels, 1500 SF with elevator for short-term and long-term engagements w/ Designated loading zone.
- CK elevator conveniently connects to the retail’s lower level providing dishwashing & food prep stations, walk-in refrigerator storage.
EXECUTIVE SUMMARY
Douglas Elliman Commercial has been exclusively retained by ownership to market for sale 220 Atlantic Avenue, Brooklyn, NY.
Improved Price $4,195,000 as of 08/01/2024
Douglas Elliman Commercial has been exclusively retained by ownership to market for sale 220 Atlantic Avenue, Brooklyn, NY.
Perfect owner/user opportunity. Pristine mixed-use building with 2 free market apartments over an impressive retail commercial kitchen build out. Located in the center of Brooklyn’s most vibrant neighborhoods: Cobble Hill - Boerum Hill - Brooklyn Heights - Downtown Brooklyn.
The 3 story building has been gut-renovated with efficient detail from roof top to the retail lower level. The 2nd and 3rd floor comprise of two free market 2 bedroom apartments, which include washer/dryer, central air and an outdoor deck serving the 2nd floor apartment.
The ground floor retail space offers a turnkey food production enterprise or restaurant commissary infrastructure loaded with commercial grade stoves, grills, walk-in freezers, and chillers all serviced by code compliant exhaust ventilation out to the roof. An elevator conveniently connects to the retail’s lower level providing dish washing & food prep stations, walk-in refrigerator storage, and valuable production square footage to enhance any food & beverage service establishment.
Proforma: Annual Rental Income $307,200 (Residential + Retail) - $30,365 (Annual Expenses + RE Tax) $276,835 Projected Net Operating Income.
Please contact the broker to discuss and arrange tour.
Improved Price $4,195,000 as of 08/01/2024
Douglas Elliman Commercial has been exclusively retained by ownership to market for sale 220 Atlantic Avenue, Brooklyn, NY.
Perfect owner/user opportunity. Pristine mixed-use building with 2 free market apartments over an impressive retail commercial kitchen build out. Located in the center of Brooklyn’s most vibrant neighborhoods: Cobble Hill - Boerum Hill - Brooklyn Heights - Downtown Brooklyn.
The 3 story building has been gut-renovated with efficient detail from roof top to the retail lower level. The 2nd and 3rd floor comprise of two free market 2 bedroom apartments, which include washer/dryer, central air and an outdoor deck serving the 2nd floor apartment.
The ground floor retail space offers a turnkey food production enterprise or restaurant commissary infrastructure loaded with commercial grade stoves, grills, walk-in freezers, and chillers all serviced by code compliant exhaust ventilation out to the roof. An elevator conveniently connects to the retail’s lower level providing dish washing & food prep stations, walk-in refrigerator storage, and valuable production square footage to enhance any food & beverage service establishment.
Proforma: Annual Rental Income $307,200 (Residential + Retail) - $30,365 (Annual Expenses + RE Tax) $276,835 Projected Net Operating Income.
Please contact the broker to discuss and arrange tour.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,500 SF
Building Class
B
Year Built
1800
Price
$4,195,000
Price Per SF
$2,797
Cap Rate
6.98%
NOI
$292,900
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.57
Lot Size
0.06 AC
Zoning
R6A - Permit a Wide Range of High-Bulk Commercial Uses Requiring a Central Location
Frontage
14 FT on Atlantic Ave
AMENITIES
- Bus Line
- Metro/Subway
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Apple Downtown Brooklyn
- Retailer
- -
- -
- -
- Francie
- Accommodation and Food Services
- -
- -
- -
- Target
- -
- -
- -
- -
- Trader Joe's
- Retailer
- -
- -
- -
- Whole Foods Market
- Retailer
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Apple Downtown Brooklyn | Retailer | - | - | - | ||
| Francie | Accommodation and Food Services | - | - | - | ||
| Target | - | - | - | - | ||
| Trader Joe's | Retailer | - | - | - | ||
| Whole Foods Market | Retailer | - | - | - |
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00278-0025 | Improvements Assessment | $226,680 |
| Land Assessment | $34,680 | Total Assessment | $261,360 |
