1500 Nostrand Ave Brooklyn, NY 11226
- Investment properties
- 2,436 SF
- 0.02 lot acres
Current Use by Public Records
- Investment properties
Property Details for 1500 Nostrand Ave
- Year built
- 1931
- Lot size
- 0.02 lot acres
- Property size
- 2,436 SF
- Zone code
- R6
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 05108-0041
- APU
- 51080041
Description
This exceptional 750-square-foot retail space is ideally situated on the corner of Nostrand Avenue and Erasmus in the vibrant Lefferts Garden neighborhood of Brooklyn, New York. Its prime location offers unparalleled visibility and accessibility, benefiting from high foot traffic generated by its proximity to the Church Avenue 2 & 5 train station and the B44 bus route. The property's strategic placement within a bustling commercial district, surrounded by established businesses such as Dunkin' Donuts, Domino's Pizza, Walgreens, Burger King, Subway, and T-Mobile, ensures a consistent flow of potential customers. This single-tenant space is perfect for a variety of retail or office uses. The property is located in Kings County (Brooklyn), New York, with the full address being 1500 Nostrand Avenue, zip code 11226. Adding to its practicality, the space includes a convenient basement for storage, providing ample room for inventory or supplies. This presents a rare opportunity to establish a business in a thriving commercial hub with excellent visibility and convenient access to public transportation. The property is classified as retail and is a single-tenant space. The total building square footage is 750 square feet.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $350,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $245,000
- 6.5%
- $270,000
- 7%
- $280,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $295,000
- Geo Method
- $225,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $275,000
- Retail
- $275,000
- Mixed-Use
- $245,000
- Hospitality
- $220,000
- Educational
- $270,000
- Residential Income
- $215,000
- Energy
- $265,000
- Income-Based Land
- $240,000
- Food Service
- $255,000
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9497
- Latitude
- 40.6497
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA