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    1465 Myrtle Ave Brooklyn, NY 11237

    Sponsored
    For Sale
    $4,250,000

    High-yield investment opportunity in Bushwick.

    Property size:
    9,220 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This fully renovated, 9,220 square foot mixed-use building in Brooklyn's vibrant Bushwick neighborhood presents a compelling investment opportunity. Located on a prominent corner lot at 1465 Myrtle Avenue, between Bleecker Street and Menahan Street, this property boasts a strong location near the Knickerbocker Avenue M train station, providing excellent accessibility. The building comprises four units, with a national tenant currently occupying the retail space, resulting in a 50% occupancy rate. The asking price is $4,250,000, translating to a price per square foot of $460.95 and a projected cap rate of 3.60%. The building's rentable building area (RBA) is 2,305 square feet. The property is being offered "as is," providing the buyer with the flexibility to implement their vision. The surrounding area is rich with established businesses, including Citibank, Boost Mobile, Qdoba, Subway, Popeyes, Matto Espresso, CVS, Dollar Tree, Capital One, Food Bazaar, Blink Fitness, Bank of America, Planet Fitness, and White Castle, indicating a strong retail environment and high foot traffic. Convenient access to the L train at Myrtle-Wyckoff Avenues and the B54 bus line further enhances the property's appeal. This is an exceptional chance to acquire a well-situated, mixed-use asset in a rapidly growing Brooklyn neighborhood.

    Property Features for 1465 Myrtle Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,220 SF

    HighLights

    • Four‑unit multifamily building.
    • Completely renovated.
    • Corner lot location.
    • As‑is condition.
    • 2,305 square feet of rentable building area (RBA).
    Property Profile Location Intelligence

    Current Use by Public Records

    Popeyes Louisiana Kitchen Chicken Restaurant Masary Development Real Estate Agency BK19 Event Space Event Venue Light House Lounge

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store 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
    -73.9170608
    Latitude
    40.6990867

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    FAQs

    What type of property is this?
    Individual retail property - High-yield investment opportunity in Bushwick.
    Where is this individual retail property located?
    The property is located at 1465 Myrtle Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: Four-unit multifamily building.; Completely renovated.; Corner lot location.
    Request Owner's contact information
    1465 Myrtle Ave Brooklyn, NY 11237
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    Brooklyn, NY 11237
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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
    1465 Myrtle Ave Brooklyn, NY 11237
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