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Brooklyn Retail Space for Sale
Retail Space For Sale in Brooklyn
Brooklyn, a borough of New York City, offers a valuable opportunity for commercial real estate investments, especially in retail. It has a population of roughly 2.7 million people, making it one of the most densely populated areas in the United States. This density ensures a high foot traffic potential for retail spaces, stemming both from locals and visitors. The borough is well-equipped with public transportation and is home to institutions like Brooklyn College and the New York City College of Technology, which bring in students and young professionals. Its location near Manhattan and diverse neighborhoods like Williamsburg and Park Slope positions Brooklyn as an attractive spot for commercial real estate (CRE) investing.
Retail spaces in Brooklyn take advantage of the borough's varied economy and cultural diversity, with landmarks such as the Brooklyn Navy Yard and the Brooklyn Tower nearby. These properties are in an environment conducive to business, surrounded by both traditional and high-tech industries. Shopping centers in Brooklyn provide diverse shopping experiences, from upscale boutiques to unique local markets, showcasing the borough's mix of cultures. The restaurant scene is also vibrant, offering everything from high-end meals to casual street food, reflecting Brooklyn's varied population. Office spaces and hotels are important to the local real estate market too, serving the growing tech industry and tourists. For those considering a "like-kind" property for a 1031 exchange, Brooklyn offers properties that could fulfill your requirements.
Learn About Retail Space For Sale in Brooklyn
How many retail space listings are available for sale in Brooklyn?
There are currently 193 retail space listings available for sale in Brooklyn.
What factors should I consider when searching for retail space for sale in Brooklyn?
When looking for retail space for sale in Brooklyn, consider several critical factors to ensure the property meets your business needs.
- Evaluate the economic landscape of Brooklyn, noting the shift from manufacturing to service-based industries and the presence of high technology startup companies, which can affect foot traffic and customer demographics.
- Consider the proximity to key infrastructure and amenities, including the extensive public transportation system and cultural institutions like the Brooklyn Museum and Brooklyn Botanic Garden, to enhance accessibility and attractiveness to customers.
- Analyze the local market and competition by understanding the density and types of retail establishments in the area, ensuring your business can stand out and meet an unfulfilled need in the community.
How much does it cost to buy a retail space in Brooklyn?
The cost of buying retail space in Brooklyn varies, reflecting the diverse market and property sizes available. The average price per square foot for retail space is $762, with an average size of 7,815 SF.
What is the largest retail space available to buy in Brooklyn?
The largest retail space available to buy spans 186,071 SF.
Size Summary For Brooklyn Retail Space
| Retail Space Size | Square Feet |
|---|---|
| Maximum | 186,071 SF |
| Average | 7,815 SF |
| Minimum | 481 SF |
Cap Rate for Brooklyn Retail Space
| Retail Space Cap Rate | Cap Rate Percentage |
|---|---|
| Maximum | 12.2% |
| Average | 6.08% |
| Minimum | 1.24% |
Prices for Brooklyn Retail Space
| Retail Space Price | Price Per SF |
|---|---|
| Maximum | $9,889 Per SF |
| Average | $762 Per SF |
| Minimum | $50 Per SF |
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