6202 18Th AveBrooklyn, NY 11204

Property Details for 6202 18Th Ave

Year built

1920

Lot size

0.07 AC

Property size (Sq ft)

4,500 SF

Zone code

R5

Property type

Retail space

APN

05532-0039

APU

55320039

Description

This exceptional 3,240 square foot retail property, located at 6202 18th Ave in Brooklyn, NY, presents a unique investment opportunity. The building, constructed in 1931 and renovated in 1995, boasts a Class B rating and sits on a 40ft x 80.5ft lot (40ft x 72ft building size). Currently configured as a well-established Asian restaurant with a fully finished basement featuring high ceilings and three commercial freezers, this turnkey operation includes a commercial kitchen equipped with a vent hood and grease trap. The first floor offers 14-foot ceilings and two bathrooms. Recent upgrades include a new boiler/HVAC system, rubber roof, and exterior improvements. Zoned R5, C1-2, this property offers significant flexibility for conversion to various uses, including retail, adult day care, office space, or a medical practice. Its prime location on a high-traffic corner in Bensonhurst, bordering Borough Park, places it within steps of Target, Starbucks, and Chipotle, and just one block from the 18th Avenue train station. The property is currently under a lease with less than two years remaining. This is a 1031 exchange eligible property. Note: Further details are available upon execution of a non-disclosure agreement.

• CAP approach

  CAP return

  Valuation

  6%

  $1,093,657

  6.5%

  $1,009,530

  7%

  $937,420

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,481,684

  Geo Method

  $1,481,684

• Alternative Use

  Use

  Valuation

  Residential

  $851,576

  Hospitality

  $780,039

  Educational

  $648,983

  Medical

  $671,303

  Retail

  $1,009,530

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6209

Longitude

-73.9888

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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