Prime Corner Mixed-Use Building
320 Court Street
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TerraCRG has been retained to exclusively represent ownership in the sale of 320 Court Street, a three-story, mixed-use building in Carroll Gardens, with 50 ft. of frontage on Court Street and 40 ft. of frontage on Sackett Street. The asking price is $7,750,000.
The property is comprised of one ground floor retail space, a second floor retail space, two apartments and a basement. The ground floor retail is 2,000 SF with 2,000 SF of vacant basement space. The second-floor retail space is 2,000 SF and currently occupied by Lift. The third floor consists of two three-bedroom apartments, each ~796 SF.
The gross annual projected income is $398,388 and the projected NOI is ~$316,040. The two free market apartments have an average rent of $4,275.
Carroll Gardens is one of the most active and established neighborhoods in Brooklyn, achieving rents as high as $60 on an R/SF basis.
The property is conveniently located off of Court Street, boasting renowned restaurants, cafes, bars and boutique shops including Frankie’s Spuntino, Buttermilk Channel, and Other Half Brewing.
The property is located just a 15-minute walk away from the Whole Foods Supermarket on 3rd Street and is conveniently located a few blocks away from the Carroll Street Subway station giving tenants access to the F & G trains.