Current Use by Public Records
- Victory Outreach Church / Church
- Victory Outreach Brooklyn - Alcance Victoria / Church
Property Details for 116 Avenue U
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings (Brooklyn)
- State
- New York
- Longitude
- -73.9798
- Latitude
- 40.5959
