4018 8Th AveBrooklyn, NY 11232

Property Details for 4018 8Th Ave

Property size (Sq ft)

2,300 SF

Property type

Land

Description

This exceptional commercial land parcel, located at 4018 8th Avenue in Brooklyn, New York's vibrant Sunset Park neighborhood (zip code 11232), presents a compelling investment opportunity. The property encompasses a 2,500 square foot lot and features a 2,300 square foot building currently leased to a tenant operating a box school. The existing lease agreement has three years remaining, generating a stable monthly rental income of $5,800, inclusive of property taxes. The seller incurs a monthly common charge of $500. The property boasts a ceiling height ranging from 11 to 15 feet, offering considerable flexibility for future development or continued operation as a commercial space. With a Net Operating Income (NOI) of $59,323 and an asking price of $1,500,000, this property offers a 4% capitalization rate. This is a turnkey investment, generating immediate cash flow upon closing. The property's location within the bustling 8th Avenue business district ensures strong tenant demand and potential for future appreciation. This is a rare opportunity to acquire a well-situated commercial property in a thriving Brooklyn neighborhood. The single-unit building provides a straightforward investment with minimal management overhead. Don't miss this chance to secure a profitable addition to your investment portfolio.

Location Insight

City

Brooklyn

County

Kings (Brooklyn)

State

New York

Latitude

40.6465

Longitude

-73.9985

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