408 Knickerbocker Ave Brooklyn, NY 11237-4102
- Office buildings
- 10,250 SF
- 0.06 lot acres
Current Use by Public Records
- Dr. Oleg Klempner, DDS / Dentist / Pediatric Dentist
- Jinwoo Park / Dentist
- Dr. Jane Jaroonnarm / Dentist / Practitioner Service Location
- nicole fitnes / Nutritionist
- Cvl Nutrition / Espresso Bar
Property Details for 408 Knickerbocker Ave
- Year built
- 1931
- Lot size
- 0.06 lot acres
- Property size
- 10,250 SF
- Zone code
- C4-3
- Property type
- Office buildings
- APN
- 03268-0043
- APU
- 32680043
Description
This exceptional three-unit, three-story retail building at 408 Knickerbocker Avenue in Brooklyn, NY, presents a compelling investment opportunity. Boasting a 5.36% cap rate and a strong net operating income (NOI) of $362,053, this property offers significant potential for return. The building is fully occupied (100%) with a diverse tenant mix including T-Mobile (since 2006, with a recent 5-year lease extension), Park Dental Care (occupying the upper two floors, having invested over $200,000 in capital improvements including a new elevator), and Herbalife Nutrition Center (a long-term tenant since 2014, consistently renewing their lease). Located in the thriving Bushwick neighborhood at a signalized intersection, this property benefits from high foot traffic and proximity to major transportation, including the J, M, Z, and L subway lines. The building features low operating expenses and a C4-3 zoning designation. The long-term historical tenancy and potential for upside through expiring leases further enhance the investment appeal of this prime retail property. The asking price is $6,750,000. This is a rare opportunity to acquire a stable, high-performing retail asset in a rapidly growing area of Brooklyn.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $830,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $705,000
- 6.5%
- $695,000
- 7%
- $640,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $715,000
- Geo Method
- $775,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $550,000
- Retail
- $570,000
- Mixed-Use
- $750,000
- Hospitality
- $590,000
- Educational
- $730,000
- Residential Income
- $570,000
- Energy
- $560,000
- Income-Based Land
- $605,000
- Food Service
- $665,000
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9204
- Latitude
- 40.6997
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
