1182 Flushing Ave Brooklyn, NY 11237

Property Details for 1182 Flushing Ave

Year built

1931

Lot size

0.35 lot acres

Property size

43,600 SF

Zone code

M1-1

Property type

Warehouses

APN

03167-0026

APU

31670026

Description

This exceptional three-story, 43,600 square foot warehouse building presents a compelling investment opportunity in the thriving Williamsburg/Bushwick area of Brooklyn, NY. Situated on a 15,200 square foot lot (100 feet of frontage on Flushing and Jefferson Streets), the property boasts 13,000 square feet of ground-floor warehouse space featuring 16-foot ceilings, two rear loading docks, and a small retail showroom. The upper two floors comprise approximately 30,600 square feet of artist studios and creative office space. A 4,600 square foot semi-grade basement provides additional tech office and storage space. A freight elevator (8,000 lb capacity) services all three floors. The building benefits from in-place leases with termination clauses, offering flexibility for future occupancy. Its strategic location near the Jefferson Street 'L' train station and major highways (BQE and LIE) ensures excellent accessibility. Zoned M1-1, this property is located within an Industrial Business Park and a Qualified Opportunity Zone, offering significant tax advantages. The asking price is $12,500,000, representing a 7.26% cap rate and a strong net operating income (NOI) of $907,451. This is a rare chance to acquire a substantial commercial building in a rapidly developing and highly desirable Brooklyn neighborhood.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9245

Latitude

40.7067

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments