588 5Th AveBrooklyn, NY 11215

Property Details for 588 5Th Ave

Year built

1920

Lot size

0.04 AC

Property size (Sq ft)

2,700 SF

Zone code

C43A

Property type

Investment properties

Property subtype

Live-work space

APN

01052-0051

APU

10520051

Description

This exceptional 1,400 square foot commercial space, located in the vibrant Park Slope neighborhood, is now available for lease. Recently renovated, this single-tenant property offers a beautifully finished interior, perfect for a variety of uses. The space is ideally suited for retail businesses, offices, or restaurants, benefiting from high foot and car traffic in a busy and convenient location. Its prime position near 5th Avenue and Prospect Avenue ensures excellent visibility and accessibility. The property includes a finished basement, adding valuable extra square footage. The absence of elevators is noted, but the single-level layout offers easy navigation. This is a fantastic opportunity to establish a presence in a thriving commercial area with strong potential for growth. The space is ready for immediate occupancy. The property type is classified as retail, office, and restaurant, offering flexibility for various business models. The building's total square footage is 1,400 square feet. Consider this location for its proximity to public transportation and its high-traffic environment. Don't miss this chance to secure a prime commercial space in a highly desirable neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $446,391

  6.5%

  $412,053

  7%

  $382,621

• Comparable approach

  Method

  Valuation

  Relative Method

  $352,782

  Geo Method

  $352,782

• Alternative Use

  Use

  Valuation

  Residential

  $510,946

  Hospitality

  $468,023

  Educational

  $389,390

  Medical

  $402,782

  Retail

  $605,718

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6646

Longitude

-73.9905

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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