1622 Pitkin Ave Brooklyn, NY 11212

This exceptional investment opportunity presents a 2-story, 2,855 square foot retail building situated on the highly visible southeast corner of Pitkin Avenue and Thomas S. Boyland Street in Brooklyn, NY. Built in 1930, the property boasts a strong current occupancy of 100% with a Net Operating Income (NOI) of $84,682, yielding a 4.46% cap rate. The asking price is $1,900,000, translating to $665.50 per square foot. The property features 1,855 square feet of ground floor retail space, ideal for a variety of uses, complemented by 1,000 square feet of storage on the second floor and an additional 1,000 square feet of basement storage. Conveniently located just blocks from the Sutter Avenue Station (3 train), this property benefits from excellent public transportation access. The current lease is a NNN (Net, Net, Net) single-tenancy agreement with approximately 2 years remaining. Zoned C4-3, the property offers significant upside potential with an as-of-right buildable square footage of 6,317 square feet. This presents a rare chance to acquire a well-located, income-producing retail property in a thriving Brooklyn neighborhood. The property's strong cash flow, prime location, and development potential make it an attractive investment for discerning buyers.