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    Brooklyn Retail Building on Corner Title is generated by Realmo AI

    1622 Pitkin Ave, Brooklyn, NY 11212

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    Two-story retail building in Brooklyn with high visibility.

    Type:Retail
    Property size:
    2,855 SF
    Price / SF:
    $560/SF
    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

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    Jack A. Cohen
    Jack A. Cohen

    Listing office JA Cohen Advisory Group LLC

    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

    Located in Brooklyn, NY, the two-story retail building at 1622 PITKIN AVE offers an investment opportunity. The property is positioned on a corner of Pitkin Avenue and Thomas S. Boyland Street, providing high visibility from two streets. It is located close to the Sutter Avenue (L) train station, which ensures foot traffic. The property has a size of 2855 square feet. With an upcoming lease expiration, there is an opportunity for re-tenanting or owner occupancy. The property offers the ability to enhance NOI through market-rate leasing.

    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
    2,855 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.96M
    $1.71M – $2.28M (±1% cap)
    NOI $136,910 @ 7.0% cap · market cap 8.56%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $2.36M
    $2.07M – $2.76M (±1% cap)
    NOI $165,476 @ 7.0% cap · market cap 10.35%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    GameStop Arcade & Gaming Center

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.913171
    Latitude
    40.669075

    FAQs

    What type of property is this?
    Retail space - Two-story retail building in Brooklyn with high visibility.
    Where is this retail space located?
    The property is located at 1622 Pitkin Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: 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.
    (347) 244-2226 Call to check price and availability
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