Prime Bushwick Mixed-Use Brick Bldg — Free Market

205 Wyckoff Street

Bushwick

$2,650,000

6 Total Units
5 Residential Units
1 Commercial Unit
4,500 Building SF
Cross Streets Harman Street & Greene Avenue
Subways
l
m
Retail/Mixed-Use 205 Wyckoff Street, Bushwick
PDF
Matthew Cosentino
Have Matthew contact you

Want Matthew to contact you?

I would like to be contacted:

Details

Block 3291
Lot 6
Lot Size 25 ft. x 84.17 ft.
Building Size 25 ft. x 60 ft.
Building Class S5
Zoning R6

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the free market mixed-use building located at 205 Wyckoff Avenue in the Bushwick neighborhood of Brooklyn. The building is located directly on Wyckoff Avenue, one of the best and most emerging retail strips in Brooklyn. It is also just 2 1/2 blocks from the DeKalb Avenue L station and in very close proximity to the Myrtle-Wyckoff M & L trains. The property offers the rare opportunity to own a free market building with retail frontage on the most prime section of Wyckoff Avenue. The three-story brick building is 25 ft. x 60 ft. and consists of 6 total units (5 free market residential apartments along with a  ground floor commercial space). Four of the residential units are vacant and not renovated, one is a renovated duplex unit paying $2,600/month and the retail store has a lease that expires in 4 years and is paying ~$2,000/month.

The non-renovated residential units can be converted to 3-BR/2-BA units that would generate approximately $3,200/month. After renovation, the property can generate gross revenue of ~$208,000/year. After the retail lease expiration, the building can generate gross revenue of ~$233,000/year. With the upside potential in the retail rent the property can go from a 5.7% CAP to a 6.5% CAP just by waiting out the impending retail lease expiration.

 

 

Attractions

The property is ideally located in one of the most desirable locations in Bushwick – on Wyckoff Avenue in very close proximity to both the M and L trains. The retail development in this located has exploded with some of the best restaurants, bars and cafes opening in the immediate vicinity.

Hanna Natural Organic Market and Wine Shop
Starbucks
Planet Fitness
Artichoke Pizza
Sea Wolf
Heavy Woods
The Cobra Club
Left Hand Path
Fair Weather Bushwick
Old Stanley's
GoodYoga
Variety Coffee Shop
Wyckoff Starr Coffee Shop

Similar Listings

Brooklyn Neighborhood Guides

Our neighborhood guides tell you everything you need to know about Brooklyn, from comprehensive market data to the best places to eat, shop and play.

Learn More >