Current Use by Public Records
- Grüit by Abe's / Bar & Pub / Restaurant
Property Details for 252 Empire Blvd
- Property type
- Land
Description
This exceptional 7,133 sq ft commercial and residential land parcel is situated on a bustling corner in Brooklyn, NY, at 252 Empire Blvd, 11225. The property boasts a high-end restaurant, Gruit Garden & Eatery, as a current tenant under a triple net (NNN) lease with 13 years remaining (expiring January 10, 2035). The lease includes a 1.5% annual rent increase, generating a current net operating income (NOI) of $93,000. The restaurant features both indoor and outdoor seating, reflecting a significant investment of approximately $1 million. This presents a unique opportunity to acquire a property with immediate income generation while simultaneously possessing significant development potential. An additional approximately 15,000 square feet of buildable land adjacent to the restaurant allows for expansion or the creation of new commercial or residential structures. The location is highly desirable, close to Prospect Park, the Prospect Park Zoo, and the Brooklyn Botanic Garden. Excellent public transportation access is provided by the #2 and #5 subway lines (around the corner) and the B44, B49, and B43 bus routes (nearby). The asking price for this prime Brooklyn property is $4,100,000. This represents a compelling investment opportunity combining immediate income with substantial future development potential.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- NY
- State
- New York
- Longitude
- -73.9537
- Latitude
- 40.6635
