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    802 Avenue U Brooklyn, NY 11223

    For Sale
    $14,000,000

    Fully occupied, 38,100 SF retail space.

    Property size:
    38,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional investment opportunity presents a fully occupied, 38,100 square foot storefront located at 802 Avenue U in Brooklyn, New York, within Kings County, zip code 11223. The property boasts a strong 6.00% cap rate and commands an asking price of $14,000,000. The building is a ten-year-old, modern structure featuring a multi-tenancy setup with 100% occupancy. The retail space comprises three separate stores, complemented by twenty modern two-bedroom apartments. Convenient underground parking is available for fourteen vehicles. The property's prime location offers significant frontage on Avenue U, ensuring high visibility and accessibility. The gross lease structure simplifies management, and the absence of a remaining lease term allows for immediate control and potential for future rent increases. This is a rare opportunity to acquire a high-performing, fully occupied retail property in a desirable Brooklyn location with substantial upside potential. The property's modern amenities, including an elevator, and ample parking further enhance its appeal to both tenants and investors. This is a turnkey investment ready to generate immediate income.

    Property Features for 802 Avenue U

    General Information

    Property type
    Individual retail properties
    Square Feet
    38,100 SF

    HighLights

    • $14,000,000 asking price.
    • 38,100 square foot retail storefront.
    • Gross lease, multi‑tenant, 100% occupancy.
    • 6.00% cap rate.
    • 14 parking spaces, underground.
    • Located at 802 Avenue U, Brooklyn, NY 11223.
    Property Profile Location Intelligence

    Current Use by Public Records

    U.Nice MINI MARKET Supermarket Ecodent Dental Laboratory Dental Laboratory S Group Express ... Diagnostic Center Red carpet fashion Clothing Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office 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
    -73.962607
    Latitude
    40.598034

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    FAQs

    What type of property is this?
    Individual retail property - Fully occupied, 38,100 SF retail space.
    Where is this individual retail property located?
    The property is located at 802 Avenue U Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $14,000,000.
    What are key features of this property?
    This property features: $14,000,000 asking price.; 38,100 square foot retail storefront.; Gross lease, multi-tenant, 100% occupancy.
    Request Owner's contact information
    802 Avenue U Brooklyn, NY 11223
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    Brooklyn, NY 11223
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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
    802 Avenue U Brooklyn, NY 11223
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