4022 8Th AveBrooklyn, NY 11232

Property Details for 4022 8Th Ave

Property size (Sq ft)

4,000 SF

Property type

Specialty properties

Property subtype

Office properties

Description

This exceptional commercial property, located at 4022 8th Avenue in Brooklyn, NY 11232, presents a unique investment opportunity. The duplex consists of two commercial condominium units totaling 4,000 square feet, situated on a 2,500 square foot lot. The building is two stories high, boasting ceiling heights ranging from 8 to 10 feet. Currently, the property is occupied by a senior citizens activity center under a lease with four years remaining, generating a monthly rent of $8,700, which includes a 4% annual increase. The current Net Operating Income (NOI) stands at $77,310, resulting in a 3% capitalization rate. The asking price for this turnkey investment is $2,500,000. This prime location on 8th Avenue in the bustling Kings County business district offers significant potential for future growth and diverse business applications. The property's existing tenant provides immediate cash flow, while the substantial square footage and strategic location present numerous possibilities for long-term value appreciation. This is a rare opportunity to acquire a well-maintained, income-producing commercial property in a highly desirable Brooklyn neighborhood. Serious inquiries only.

Location Insight

City

Brooklyn

County

Kings (Brooklyn)

State

New York

Latitude

40.6464

Longitude

-73.9985

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