NNN Retail Building w/ Development Potential

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 747 Fourth Avenue, a free-standing NNN leased retail building with future development potential in the Greenwood Heights section of Brooklyn. Situated at the corner of Fourth Avenue and 25th Street, the 150 ft x 100 ft, M1-1D zoned lot is improved by a 7,600 SF building with a 7,400 SF parking lot/drive-thru. The existing retail building is currently NNN-leased by Dunkin' Donuts, with two years remaining on the lease and two, five-year options with the first option resetting at fair market value. The rent is currently significantly below market. An opportunity for both investors and developers looking to acquire a prime corner commercial property, 747 Fourth Avenue is only a few blocks from Industry City – one of the largest office developments in the borough – and easily accessible via the R train at the 25th Street station, the Prospect Expressway and the BQE. The neighborhood’s growth has spurred in large part of its excellent transportation infrastructure. The Gowanus Expressway, which hovers above Third Avenue, provides access to Manhattan and New York's outer boroughs.