1004 Flatbush Ave, Brooklyn, NY 11226

Building Details

Buildings 1 More

Tenancy Multi More

Listing Agency: JA Cohen Advisory Group Show Phone

Listed By: Jack A Cohen · License NY #10491209522 Show Phone

Source: Moodyscre

Added: Nov 10 Changed: Nov 12 Last Checked: Nov 12 at 2:14PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JA Cohen Advisory Group

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Investment Insights

Based on property information with market context.

At 1004 Flatbush Ave in Brooklyn, this retail property totals 12,222 square feet. The building includes a 6,100-square-foot basement and a 1,400-square-foot second floor. Chipotle and PLS Check Cashers occupy the retail space, with leases extending through 2032.

The property also includes 12,990 square feet of unused development air rights.

Key Highlights

• 12,222 SF total building area
• Includes a 6,100 SF basement and 1,400 SF second floor
• Occupied by Chipotle and PLS Check Cashers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$263,027

Cap Rate

4.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,260,540 $5.3M

Cap Rate 7%

$3,757,529 $3.8M

Cap Rate 9%

$2,922,522 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,222 SF

Gross rent

$410.7K $33.60/SF

− Vacancy

−$34.9K −$2.86/SF

EGI

$375.8K $30.74/SF

− OpEx

−$112.7K −$9.22/SF

NOI

$263.0K $21.52/SF

Area

ZIP 11226

Vacancy

8.50%

Lease Rate

$33.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,260,540

Cap Rate 7%

$3,757,529

Cap Rate 9%

$2,922,522

Alternative Uses

Best Use

Retail

$3.76M

$3.29M – $4.38M (±1% cap)

NOI $263,027 @ 7.0% cap · market cap 4.46%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.04M

$5.29M – $7.05M (±1% cap)

NOI $422,862 @ 7.0% cap · market cap 7.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Chipotle Mexican Grill Restaurant

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Parts Store Nursing Home Kitchen & Bath Showroom HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

5,446

Businesses Nearby

269k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Apparel 34% Groceries 30% Shops & Services 16% Dining 13%

Food Bazaar Supermarket Groceries

58,994 visits/mo 0.0 miles

Old Navy Apparel

34,998 visits/mo 0.0 miles

Burlington Apparel

21,398 visits/mo 0.0 miles

Shell Shops & Services

18,428 visits/mo 0.2 miles

Gap Apparel

9,658 visits/mo 0.1 miles

Demographics for 11226, NY

101,727

Population

42,618

Households

2.4

Avg Household Size

37

Median Age

36%

College-Educated

86%

High-School Grad

1.3 sq mi

ZIP Area

78,252

Density / Sq Mi

$81,084

Median Household Income

$49,892

Median Earnings

$1,751

Median Rent

$866,300

Median Home Value

Market

Average Price Trend$/SF for Retail space in Brooklyn, NY

$539 Jul

$425 Aug

$492 Sep

$475 Oct

Properties on Market for Retail space in Brooklyn

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Chipotle and PLS Check Cashers occupy the property under leases extending through 2032.

Where is this retail space located?

The property is located at 1004 Flatbush Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $5,899,000.

What are key features of this property?

This property features: 12,222 SF total building area; Includes a 6,100 SF basement and 1,400 SF second floor; Occupied by Chipotle and PLS Check Cashers