3608 Nostrand Ave Brooklyn, NY 11229
- Retail properties
- 1,800 SF
Current Use by Public Records
- NY Sculpting Boutique Spa / Medical Spa
- Majestic Spa & Body Sculpting Boutique / Medical Spa
Property Details for 3608 Nostrand Ave
- Property size
- 1,800 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional Brooklyn commercial property at 3608 Nostrand Avenue presents a unique investment opportunity. The 1,800 square foot building, situated on a 1,800 square foot lot in the Kings (Brooklyn) County, zip code 11229, offers versatile usage as office, industrial, or retail space, currently operating as a fully equipped medical spa. The property boasts high ceilings ranging from 11 to 15 feet, providing ample space and flexibility. The asking price is $230,000, with a current net operating income (NOI) of $120,000 per year, yielding a 4% cap rate. However, the existing medical spa business generates a gross annual revenue of $240,000, indicating significant potential for increased NOI, potentially reaching $182,000 annually. The property consists of a single unit and is ideally suited for a variety of commercial ventures. Its prime location in Brooklyn offers excellent access to transportation and a thriving local market. This is a rare chance to acquire a well-established business with substantial growth potential, making it an attractive investment for discerning buyers. The property's diverse zoning allows for a range of uses, ensuring long-term value and adaptability to changing market demands. Serious inquiries are encouraged.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings (Brooklyn)
- State
- New York
- Longitude
- -73.9413
- Latitude
- 40.5961
