96 Wythe AveBrooklyn, NY 11249

Property Details for 96 Wythe Ave

Year built

2017

Lot size

0.50 AC

Property size (Sq ft)

78,215 SF

Zone code

M1-2

Property type

Hospitality properties

Property subtype

Hotels

APN

02295-0021

APU

22950021

Description

This exceptional turnkey opportunity presents a fully operational nightclub, bar, and restaurant located at 96 Wythe Avenue in the vibrant Williamsburg submarket of Brooklyn, New York. Spanning 6,300 square feet across two stories, this single-tenant property offers immediate income potential for a savvy investor. The property's prime location within Williamsburg ensures high foot traffic and visibility, making it an ideal venue for a thriving nightlife establishment. The existing infrastructure is designed to support a multi-faceted business model, encompassing a nightclub, bar, and restaurant, all within a single, well-established space. The property's layout is optimized for efficient operations, with ample space for customer seating, a fully equipped bar, and a kitchen suitable for restaurant service. The building is situated in a dynamic area known for its bustling nightlife and diverse clientele. This turnkey operation minimizes the start-up time and costs associated with launching a new business, allowing for immediate revenue generation. The property's address is 96 Wythe Avenue, Brooklyn, NY 11249, within the highly sought-after Williamsburg submarket of Brooklyn. This presents a rare chance to acquire a well-established and profitable business in a prime location. The property is classified as Retail, Restaurant, and Special Purpose, offering significant flexibility and potential for future growth. The property's size and location make it an attractive investment for experienced operators seeking a high-return opportunity in a thriving market. This is a truly unique opportunity to acquire a successful and established business in one of Brooklyn's most desirable neighborhoods.

• CAP approach

  CAP return

  Valuation

  6%

  $14,687,774

  6.5%

  $13,557,945

  7%

  $12,589,521

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,015,994

  Geo Method

  $24,015,994

• Alternative Use

  Use

  Valuation

  Residential

  $14,801,337

  Hospitality

  $13,557,945

  Educational

  $11,280,051

  Medical

  $11,667,990

  Retail

  $17,546,746

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.7216

Longitude

-73.9588

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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