8702 Flatlands AveBrooklyn, NY 11236

Property Details for 8702 Flatlands Ave

Year built

1940

Lot size

0.04 AC

Property size (Sq ft)

1,936 SF

Zone code

R5D

Property type

Investment properties

Property subtype

Live-work space

APN

08024-0036

APU

80240036

Description

This exceptional retail property, located at 8702 Flatlands Avenue in Kings County (Brooklyn), presents a unique investment opportunity. The building, constructed in 1940, offers a total of 1,936 square feet of space across two stories. The single-tenant occupancy allows for immediate use and customization to suit a variety of business needs. Situated on a 1,613 square foot lot, the property boasts a highly desirable corner location, enhancing visibility and accessibility. The building features approximately 1,000 square feet on the main level, complemented by a full finished basement, providing ample storage or additional usable space. A significant advantage is the inclusion of a private backyard and a convenient rear entrance, offering flexibility for operations and customer access. The property is in very good condition, minimizing upfront capital expenditures. Its prime location makes it suitable for a wide range of retail businesses, capitalizing on high foot traffic and strong local demographics. This is an excellent chance to acquire a well-maintained, established retail space in a thriving Brooklyn neighborhood. The property's size, features, and location combine to create a compelling investment prospect with significant potential for return.

• CAP approach

  CAP return

  Valuation

  6%

  $320,079

  6.5%

  $295,457

  7%

  $274,353

• Comparable approach

  Method

  Valuation

  Relative Method

  $252,958

  Geo Method

  $252,958

• Alternative Use

  Use

  Valuation

  Residential

  $366,367

  Hospitality

  $335,590

  Educational

  $279,207

  Medical

  $288,809

  Retail

  $434,322

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6387

Longitude

-73.9078

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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