9920 4Th Ave Brooklyn, NY 11209

Property Details for 9920 4Th Ave

Property size

45,000 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional three-story, 45,000 square foot office building in Brooklyn's Bay Ridge neighborhood presents a compelling investment opportunity. Currently 85% occupied by 31 tenants, including prominent names like Mass Mutual, Jag One Physical Therapy, Colonial Pharmacy, and PRO Health, this stabilized property boasts a strong NOI of $805,942 and a 5.20% cap rate. The building, constructed in 1977 and renovated in 2007, features 33 units, each with its own dedicated HVAC system. Ample parking is provided with 40 indoor spaces in a heated garage with elevator access, and an additional 13 outdoor spaces. Two newly upgraded elevators and a full-time on-site property manager ensure smooth operations. The building's prime location offers easy access to major transportation arteries, including the Belt Parkway, Verrazano Bridge, Brooklyn-Queens Expressway, the R train, and local and express buses to New York City. The asking price is $15,500,000, representing a price per square foot of $344.44 and a price per unit of $469,696.97. The property sits on an 18,925 square foot lot and is zoned R6A, R4-1, and C1-3. This is a rare opportunity to acquire a well-established, multi-tenant professional building in a thriving Brooklyn community.