3,080 SF Retail Building
2046 Bath Avenue
86th Street Retail Corridor, Adventurer's Amusement Park, Caesar's Bay Shopping Center
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TerraCRG has been retained to exclusively represent ownership in the sale of 2046 Bath Avenue, a 3,080 SF retail building in the Bath Beach section of Brooklyn.
Located on a prime corner of Bath Avenue and Ba 26th Street, the two-story, 3,080 SF building consists of a full basement, ground level retail and second floor office. The property underwent a complete gut renovation in 2010, and boasts a new facade, roof, and new mechanicals. Currently, the entire building is occupied by Borbas Pharmacy, a well-established tenant in the area.
The property has an annual gross income of ~$135,600, with expenses of $48,500; the net operating income for the building is $87,000 annually. The tenant is responsible for all of the utilities, including heat, electric and hot water.
2046 Bath Avenue is located on an active commercial corridor and benefits from 40 feet of frontage along Bath Avenue. It sits just a few blocks from the highly sought-after 86th Street retail corridor with national tenants such as Gap, Carter’s, Footaction, Planet Fitness, AT&T, Verizon, TD Bank, Chase and Citi Bank.
The property is just three blocks from the D train at the 20th Avenue station and is in proximity to the Belt Parkway, providing access around the borough and to Manhattan.