139 42nd St Brooklyn, NY 11232-3316

Property Details for 139 42nd St

Year built

1982

Lot size

0.11 lot acres

Property size

5,000 SF

Zone code

M3-1

Property type

Manufacturing properties

APN

00716-0058

APU

7160058

Description

This exceptional investment opportunity presents three Class A industrial buildings totaling 16,200 square feet in Brooklyn's thriving Sunset Park neighborhood. Currently 100% occupied by a single corporate tenant under a gross lease with a remaining term of approximately 6.6 years (commencing July 1, 2021, and expiring June 30, 2031), this stabilized asset boasts a strong 4.06% cap rate and a substantial net operating income (NOI) of $355,000. The property features three dock-high doors, ceiling heights ranging from 15 to 18 feet, and 15,000 square feet of available air rights. Situated on a 15,000 square foot lot within the M3-1 zoning district, the property benefits from its strategic location near major developments, including Steiner Studios' expansion and the Industry City complex. The lease includes annual rent bumps of 3.5%, ensuring consistent income growth. This is a rare opportunity to acquire a well-maintained, high-performing industrial portfolio in a rapidly appreciating area of Brooklyn, offering significant long-term value and potential for future appreciation. The asking price is $8,750,000, translating to a price per square foot of $540.12. The tenant is secured by a corporate guarantee.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-74.0133

Latitude

40.6545

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments