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    116 Avenue U Brooklyn, NY 11223

    For Sale
    $4,245,000

    Prime Brooklyn Investment Opportunity

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 6,000 square foot commercial building, located at 116 Avenue U in Brooklyn, NY (zip code 11223), presents a compelling investment opportunity. Situated on a 6,000 square foot lot, this property boasts a versatile layout suitable for various commercial uses, including office and restaurant spaces. The building features high ceilings ranging from 16 to 20 feet, providing ample space and potential for creative design. Currently occupied with a tenant under a triple net lease with seven years remaining, the lease covers 80% of property taxes, ensuring a stable income stream for the investor. The R5, C2-3 zoning allows for significant future development potential. Its prime location in Gravesend, near the N train and city bus lines, ensures high visibility and accessibility. This property is ideal for investors, developers, and those seeking a 1031 exchange opportunity. The asking price is $4,245,000. The building includes a basement, adding to its overall usable space. This is a rare chance to acquire a well-located, income-producing property with substantial upside potential in a thriving Brooklyn neighborhood.

    Property Features for 116 Avenue U

    General Information

    Property type
    Restaurants
    Square Feet
    6,000 SF

    Building Details

    Units
    1

    HighLights

    • 6,000 SF commercial building on a 6,000 SF lot in Brooklyn, NY (11223).
    • Versatile layout suitable for office or restaurant use, featuring 16‑20 ft. high ceilings.
    • Triple net lease with seven years remaining, covering 80% of property taxes.
    • R5, C2‑3 zoning allows for significant future development.
    • Prime Gravesend location near public transportation.
    • Asking price: $4,245,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Victory Outreach Church Church Victory Outreach Brooklyn ... Church

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon 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 (Brooklyn)
    State
    New York
    Longitude
    -73.9798349
    Latitude
    40.5959288

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    FAQs

    What type of property is this?
    Restaurant - Prime Brooklyn Investment Opportunity
    Where is this restaurant located?
    The property is located at 116 Avenue U Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $4,245,000.
    What are key features of this property?
    This property features: 6,000 SF commercial building on a 6,000 SF lot in Brooklyn, NY (11223).; Versatile layout suitable for office or restaurant use, featuring 16-20 ft. high ceilings.; Triple net lease with seven years remaining, covering 80% of property taxes.
    Request Owner's contact information
    116 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
    116 Avenue U Brooklyn, NY 11223
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