948 Atlantic AveBrooklyn, NY 11238

Property Details for 948 Atlantic Ave

Year built

1930

Lot size

0.05 AC

Property size (Sq ft)

2,520 SF

Zone code

M1-1

Property type

Investment properties

Property subtype

Live-work space

APN

01124-0023

APU

11240023

Description

This exceptional ground-floor retail space at 948 Atlantic Avenue in Brooklyn, NY, offers 840 square feet of versatile commercial space, perfect for a restaurant or store. The fully renovated unit features spacious, open-concept interiors with concrete floors and 18 feet of glass frontage on Atlantic Avenue, ensuring high visibility to significant pedestrian and vehicular traffic. A fully finished, 750-square-foot basement provides ample additional space for storage or expansion. The property also boasts a substantial 860-square-foot backyard, offering unique outdoor space. Located in a thriving mixed-use area, this property benefits from its proximity to new residential developments, ensuring a consistent customer base. The vibrant neighborhood is close to Lowry Triangle Park, Downtown Brooklyn, and the Barclays Center, enhancing its appeal. Excellent public transportation access via trains and buses further adds to its convenience. This location on a major thoroughfare connecting Brooklyn and Queens provides unparalleled exposure for any business. The total building size is 2,520 square feet, with 840 square feet currently vacant. The building is three stories. Free rent is available for the renovation period. This is a single-tenant space with immense potential for growth and success. Don't miss this opportunity to establish your business in this dynamic and desirable neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $416,631

  6.5%

  $384,583

  7%

  $357,113

• Comparable approach

  Method

  Valuation

  Relative Method

  $329,263

  Geo Method

  $329,263

• Alternative Use

  Use

  Valuation

  Residential

  $476,883

  Hospitality

  $436,822

  Educational

  $363,431

  Medical

  $375,930

  Retail

  $565,337

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6805

Longitude

-73.9629

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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