155 Bay Ridge Ave Brooklyn, NY 11220

Property Details for 155 Bay Ridge Ave

Property size

9,622 SF

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional investment opportunity presents a 9,622 square foot, single-story masonry office building located at 155 Bay Ridge Avenue in Brooklyn, New York, 11220. The property features 6,330 square feet of ground floor office space currently vacant, ready for immediate occupancy or lease-up. A lower level of 3,292 square feet is partially leased to a tenant, with an additional 770 square feet dedicated to storage. The property also includes a 3,600 square foot rear parking lot with 16 spaces leased month-to-month, generating immediate cash flow. Installed in 2017, roof-mounted solar panels generate approximately 36kW. The building's excellent location is just three blocks from the Bay Ridge Avenue R train station, offering convenient access to major transportation arteries including the I-278/Belt Parkway and the South Brooklyn and Rockaway Ferry. This multi-tenant property, with an owner-user component, offers a compelling opportunity for both owner-occupants seeking to offset expenses and investors looking to maximize returns through lease-up or repositioning. The property's strong pro-forma NOI of $248,600 and asking price of $4,995,000 make it a highly attractive investment. The potential for renovation or repositioning may also qualify the property for the ICAP tax benefit for commercial improvements. The 11,600 square foot lot provides ample space and potential for future expansion. This turnkey asset offers immediate cash flow and significant upside potential.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-74.0302

Latitude

40.6371