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    575 4Th Ave Brooklyn, NY 11215

    For Sale
    $3,250,000

    Two units, high-traffic location, strong lease in place.

    Property size:
    4,146 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents two commercial condominium units totaling 4,146 square feet, situated on the ground floor of a new 70-unit luxury residential building in the highly desirable Park Slope neighborhood of Brooklyn, New York. The property boasts over 105 feet of wraparound frontage at the corner of 4th and Prospect Avenues, ensuring high visibility and accessibility. Unit A, a vacant 2,370 square foot space, offers immediate occupancy and customization potential. Unit B, spanning 1,776 square feet, is currently leased to Studio Pilates under a lease extending through September 2029, with a single five-year extension option. This provides immediate cash flow and long-term stability. The building's prime location offers unparalleled convenience, with direct access to the Prospect Expressway, providing easy access to Manhattan via the Hugh L. Carey Tunnel or the Brooklyn Bridge. Park Slope's vibrant atmosphere, proximity to Prospect Park, excellent schools, diverse dining options, and abundant shopping opportunities contribute to its status as one of New York City's most sought-after residential areas, creating a strong demand for retail space. The asking price for this exceptional retail condominium is $3,250,000, representing a price per square foot of $783.89. This is a rare opportunity to acquire a well-positioned retail property in a thriving Brooklyn neighborhood. The property is offered as a single unit sale, suitable for both investors and owner-users.

    Property Features for 575 4Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,146 SF

    Building Details

    Stories
    1
    Units
    2

    HighLights

    • $3,250,000 asking price for two retail condo units.
    • 4,146 square feet total, priced at $783.89 per square foot.
    • Ground floor units in a new 70‑unit luxury residential building.
    • Over 105 feet of frontage at the corner of 4th and Prospect Avenues in Park Slope, Brooklyn.
    • One 2,370 SF unit is vacant; the other 1,776 SF unit is leased until September 2029 with a 5‑year option.
    • Excellent location near Prospect Park, with easy access to Manhattan via the Hugh L. Carey Tunnel or Brooklyn Bridge.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    getir: groceries in minutes Grocery Store 575 Fourth Avenue Condominium Complex

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9922171
    Latitude
    40.6655513

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    FAQs

    What type of property is this?
    Multifamily property - Two units, high-traffic location, strong lease in place.
    Where is this multifamily property located?
    The property is located at 575 4Th Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: $3,250,000 asking price for two retail condo units.; 4,146 square feet total, priced at $783.89 per square foot.; Ground floor units in a new 70-unit luxury residential building.
    Request Owner's contact information
    575 4Th Ave Brooklyn, NY 11215
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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
    575 4Th Ave Brooklyn, NY 11215
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