Multi-Tenant Retail
318 Knickerbocker Ave Brooklyn, NY 11237
318 Knickerbocker Ave, Brooklyn, NY, 11237
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For Sale
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Multi-tenant retail asset with an ICIP tax abatement ending in 2038 and a tenant mix including healthcare and retail.
Property Size16,982 SF
Price / SF$700.74
Days on Market174
Property Features for 318 Knickerbocker Ave
General Information
- Standard status
- Active
- Size
- 16,982 SF
- Property subtype
- RETAIL
Listing agency
RIPCO Real Estate - Queens
(516) 647-7155
Listed by
Stephen R. Preuss · License #10401284640
(516) 647-7155
Source
Moodyscre
Added: Jan 30 Updated: Jul 21 at 7:03PM Checked: Jul 22 at 4:11AM
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 RIPCO Real Estate - Queens
Investment Insights
Based on property information with market context.
This multi-tenant retail building is positioned on Knickerbocker Avenue and includes a service-oriented mix of retail tenants. Current occupancy includes Oak Street Health, which was acquired by CVS in 2023, along with a laundromat and two clothing retailers serving the local community.
The assemblage benefits from a 25-year ICIP tax abatement, which is due to expire in 2038. The property also has strong transit accessibility, located within short blocks of the L and M subway lines, providing convenient connectivity to Manhattan and other parts of Brooklyn.
The offering is presented as a for-sale assemblage with existing tenant operations in place.
The assemblage benefits from a 25-year ICIP tax abatement, which is due to expire in 2038. The property also has strong transit accessibility, located within short blocks of the L and M subway lines, providing convenient connectivity to Manhattan and other parts of Brooklyn.
The offering is presented as a for-sale assemblage with existing tenant operations in place.
Key Highlights
- Multi‑tenant retail asset on Knickerbocker Avenue in Bushwick.
- 25‑year ICIP tax abatement in place, due to expire in 2038.
- Current tenant mix includes Oak Street Health (acquired by CVS in 2023), a laundromat, and two clothing retailers.
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 | $1.32M | $77.76 |
| − Vacancy | −$157.1k | −$9.25 |
| EGI | $1.16M | $68.51 |
| − OpEx | −$349.0k | −$20.55 |
| NOI | $814.4k | $47.95 |
16,982 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$11.63M
$10.18M – $13.57M
NOI $814,365 @ 7.0% cap · market cap 6.84%
Second Best
Healthcare Medical
$5.62M
$4.92M – $6.56M
NOI $393,711 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$14.06M
$12.30M – $16.40M
NOI $984,277 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wanda I. Martinez, ...
Physician
Michael Embrey, LCSW
Foster Care Service
Oak Street Health ...
Medical Clinic
Akash I. Patel, ...
Physician
Dr. Mark Joy, ...
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Multi-tenant retail asset with an ICIP tax abatement ending in 2038 and a tenant mix including healthcare and retail.
Where is this retail space located?
The property is located at 318 Knickerbocker Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $11,900,000.
What are key features of this property?
This property features: Multi‑tenant retail asset on Knickerbocker Avenue in Bushwick.; 25‑year ICIP tax abatement in place, due to expire in 2038.; Current tenant mix includes Oak Street Health (acquired by CVS in 2023), a laundromat, and two clothing retailers.
