1622 Pitkin Ave, Brooklyn, NY 11212
Two-story retail building in Brooklyn with high visibility.
- Added:
- Jun 3, 2019
- Days on Market:
- 2586
- Last Refresh:
- May 19 at 10:17 pm
Property Features for 1622 Pitkin Ave
General Information
- Standard status
- Active
- Size
- 2,855 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1930
Listing office JA Cohen Advisory Group LLC (347) 244-2226
Listing date Jun 3, 2019
Source Crexi
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 LLC
HighLights
- Prime corner location on Pitkin Avenue and Thomas S. Boyland Street with high visibility.
- Close proximity to the Sutter Avenue (L) train station, ensuring high foot traffic.
- Reduced price of $560 PSF.
- Upcoming lease expiration provides opportunity for re‑tenanting or owner occupancy.
- Potential to enhance Net Operating Income (NOI) through market‑rate leasing.
- Two‑story retail building in a sought‑after Brooklyn location.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $222.0k | $77.76 |
| − Vacancy | −$26.4k | −$9.25 |
| EGI | $195.6k | $68.51 |
| − OpEx | −$58.7k | −$20.55 |
| NOI | $136.9k | $47.95 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.913171
- Latitude
- 40.669075