3608 Nostrand AveBrooklyn, NY 11229

Property Details for 3608 Nostrand Ave

Property size (Sq ft)

1,800 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional Brooklyn commercial property at 3608 Nostrand Avenue presents a unique investment opportunity. The 1,800 square foot building, situated on a 1,800 square foot lot in the Kings (Brooklyn) County, zip code 11229, offers versatile usage as office, industrial, or retail space, currently operating as a fully equipped medical spa. The property boasts high ceilings ranging from 11 to 15 feet, providing ample space and flexibility. The asking price is $230,000, with a current net operating income (NOI) of $120,000 per year, yielding a 4% cap rate. However, the existing medical spa business generates a gross annual revenue of $240,000, indicating significant potential for increased NOI, potentially reaching $182,000 annually. The property consists of a single unit and is ideally suited for a variety of commercial ventures. Its prime location in Brooklyn offers excellent access to transportation and a thriving local market. This is a rare chance to acquire a well-established business with substantial growth potential, making it an attractive investment for discerning buyers. The property's diverse zoning allows for a range of uses, ensuring long-term value and adaptability to changing market demands. Serious inquiries are encouraged.

Location Insight

City

Brooklyn

County

Kings (Brooklyn)

State

New York

Latitude

40.5961

Longitude

-73.9413

FAQs

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