1465 Myrtle Ave Brooklyn, NY 11237
- Office buildings
- 13,000 SF
- 0.05 lot acres
Current Use by Public Records
- Popeyes Louisiana Kitchen / Cajun Restaurant / Fast Food Restaurant
- Masary Development / Real Estate Agency
- BK19 Event Space / Event Venue
- Light House / Lounge
Property Details for 1465 Myrtle Ave
- Year built
- 1931
- Lot size
- 0.05 lot acres
- Property size
- 13,000 SF
- Zone code
- R6
- Property type
- Office buildings
- APN
- 03309-0007
- APU
- 33090007
Description
This fully renovated, 9,220 square foot mixed-use building in Brooklyn's vibrant Bushwick neighborhood presents a compelling investment opportunity. Located on a prominent corner lot at 1465 Myrtle Avenue, between Bleecker Street and Menahan Street, this property boasts a strong location near the Knickerbocker Avenue M train station, providing excellent accessibility. The building comprises four units, with a national tenant currently occupying the retail space, resulting in a 50% occupancy rate. The asking price is $4,250,000, translating to a price per square foot of $460.95 and a projected cap rate of 3.60%. The building's rentable building area (RBA) is 2,305 square feet. The property is being offered "as is," providing the buyer with the flexibility to implement their vision. The surrounding area is rich with established businesses, including Citibank, Boost Mobile, Qdoba, Subway, Popeyes, Matto Espresso, CVS, Dollar Tree, Capital One, Food Bazaar, Blink Fitness, Bank of America, Planet Fitness, and White Castle, indicating a strong retail environment and high foot traffic. Convenient access to the L train at Myrtle-Wyckoff Avenues and the B54 bus line further enhances the property's appeal. This is an exceptional chance to acquire a well-situated, mixed-use asset in a rapidly growing Brooklyn neighborhood.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $895,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $995,000
- 6.5%
- $890,000
- 7%
- $945,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $940,000
- Geo Method
- $900,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $780,000
- Retail
- $975,000
- Mixed-Use
- $1,025,000
- Hospitality
- $915,000
- Educational
- $1,030,000
- Residential Income
- $910,000
- Energy
- $1,015,000
- Income-Based Land
- $810,000
- Food Service
- $745,000
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9171
- Latitude
- 40.6991
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
