492 5Th AveBrooklyn, NY 11215

Property Details for 492 5Th Ave

Year built

1920

Lot size

0.03 AC

Property size (Sq ft)

4,106 SF

Zone code

C43A

Property type

Investment properties

Property subtype

Live-work space

APN

01022-0051

APU

10220051

Description

This exceptional 1,400 square foot retail space, located at 492 5th Avenue in the vibrant Park Slope South neighborhood of Brooklyn, New York (zip code 11215), presents a unique opportunity for a discerning business owner. Currently vacant, the property boasts a fully built-out wine bar configuration, eliminating the need for extensive renovations and allowing for a swift and efficient launch. The single-tenant occupancy ensures complete control and flexibility for the new operator. Situated in Kings County, this mixed-use property offers high visibility and foot traffic, ideal for a variety of retail concepts, including but not limited to restaurants, fitness centers, or community facilities. The previous tenant operated a successful salon, demonstrating the space's adaptability and potential. The property's street-level location provides excellent accessibility and exposure to the bustling neighborhood. With its turnkey setup and prime location, this property is poised for immediate success. The space is ready for immediate occupancy, offering a significant advantage in a competitive market. This is an exceptional opportunity to establish a thriving business in a highly desirable Brooklyn location. The property's 1,400 square feet provide ample space for a variety of uses, making it a versatile and attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $678,844

  6.5%

  $626,626

  7%

  $581,867

• Comparable approach

  Method

  Valuation

  Relative Method

  $536,490

  Geo Method

  $536,490

• Alternative Use

  Use

  Valuation

  Residential

  $777,016

  Hospitality

  $711,742

  Educational

  $592,161

  Medical

  $612,527

  Retail

  $921,140

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6677

Longitude

-73.9878

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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