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    1389 Flatbush Ave Brooklyn, NY 11210

    For Sale
    $2,600,000

    Prime Brooklyn location, fully renovated, high potential.

    Property size:
    3,960 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 3,960 square foot shopping center at 1389 Flatbush Avenue in Brooklyn, New York (zip code 11210) is offered for sale at $2,600,000. The property is a fully renovated, turn-key investment opportunity situated on a 1,900 square foot lot (approximately 20' x 98.5' irregular). It's zoned R7A / C2-4, offering significant development potential. The building boasts a 3.45 FAR and a 5.6 IH FAR, with 8,740 total zoning floor area (ZFA) development rights and 4,780 available air rights. This mixed-use retail property is ideally located in one of Brooklyn's busiest retail corridors, just four blocks from Brooklyn College and numerous stores and restaurants. Its convenient location between two subway stations – the Newkirk Av 2, 5 Station and the Newkirk Plaza B, Q Station – provides excellent accessibility throughout Brooklyn and to other boroughs. This immaculate asset presents a long-term value-add opportunity through strategic repositioning, leveraging the substantial available air rights. The property consists of one unit.

    Property Features for 1389 Flatbush Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    3,960 SF

    Building Details

    Units
    1

    HighLights

    • Fully renovated, turnkey investment opportunity with significant value‑add potential through air rights utilization.
    • Prime Brooklyn location in a high‑traffic retail corridor, within walking distance of Brooklyn College and numerous amenities.
    • Excellent transit accessibility, situated between two subway stations (Newkirk Av 2, 5 and Newkirk Plaza B, Q).
    • 8,740 sq ft total development rights, with 4,780 sq ft of available air rights.
    • 20' x 98.5' irregular lot.
    • Zoned for 3.45 FAR and 5.6 IH FAR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    METAMUSCLE LLC. Fitness Center Outpost Club | Newkirk ... Property Management Company

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.951663
    Latitude
    40.637003

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Brooklyn location, fully renovated, high potential.
    Where is this lifestyle center located?
    The property is located at 1389 Flatbush Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: Fully renovated, turnkey investment opportunity with significant value-add potential through air rights utilization.; Prime Brooklyn location in a high-traffic retail corridor, within walking distance of Brooklyn College and numerous amenities.; Excellent transit accessibility, situated between two subway stations (Newkirk Av 2, 5 and Newkirk Plaza B, Q).
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1389 Flatbush Ave Brooklyn, NY 11210
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