1188 President StBrooklyn, NY 11225

Property Details for 1188 President St

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

5,450 SF

Zone code

R6

Property type

Retail residential properties

APN

01282-0039

APU

12820039

Description

This exceptional Class A retail property, located at 1188 President Street in the vibrant Crown Heights submarket of Brooklyn, New York, offers a unique opportunity for businesses seeking prime commercial space. Completed in 2024, this brand new, five-story building boasts a total of 13,750 square feet, with up to 2,750 square feet of divisible ground floor retail space available for lease. The space features a striking, preserved 1920s facade and benefits from excellent corner exposure with 127.5 square feet of wraparound frontage. Tenants can lease anywhere from 500 to 2,750 square feet, accommodating various business needs and allowing for multiple tenants or a single occupant. The property is conveniently located across from the President Street-Medgar Evers College 2,5 subway station, providing easy access for customers and employees. Its position on a busy retail corridor, near the intersection of Nostrand Avenue and just two blocks from Eastern Parkway and the Nostrand Avenue 3 train, ensures high visibility and foot traffic. The building includes a full basement with gas and venting already installed. The space will be delivered as a brand-new white box, ready for tenant build-out. This property is situated in a rapidly developing area with a surge in new residential and commercial projects, making it an ideal location for businesses seeking to establish a presence in a thriving community. The building features one elevator.

• CAP approach

  CAP return

  Valuation

  6%

  $1,117,299

  6.5%

  $1,031,353

  7%

  $957,685

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,103,750

  Geo Method

  $1,103,750

• Alternative Use

  Use

  Valuation

  Residential

  $1,031,353

  Hospitality

  $944,714

  Educational

  $785,991

  Medical

  $813,022

  Retail

  $1,222,652

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.668

Longitude

-73.951

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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