~16,500 SF Retail/Office Building in Bath Beach/Bensonhurst
8702-8712 18th Avenue
Closed 03/27/2015 at
I would like to be contacted:
TerraCRG has been retained to exclusively represent ownership in the sale of the retail/office building at 8702-8712 18th Avenue in the Bath Beach neighborhood of Brooklyn.
The ~16,500 SF building was originally constructed as an event space and occupies 100 ft of frontage along 18th Avenue. The offering is currently being net leased on a month-to-month basis by a religous organization for $25,000 per month. Less expenses, the property offers turnkey ~6% return at the asking price.
The property is easily accessible through the D train at the 18th Avenue and 85th Street subway station. The Belt Parkway is also located a few blocks away providing additional accessibility to the property.
Bath Beach is a neighborhood located on the southwestern edge of the borough on Gravesend Bay. Streets of the neighborhood have a unique nomenclature. Four two-way thoroughfares traverse the neighborhood running southeast/northwest, parallel to Shore Parkway: these are Cropsey Avenue, Bath Avenue, Benson Avenue, and 86th Street. Primarily a working class community of semi-attached houses and small apartment houses, Bath Beach is becoming a diverse ethnic community as recent Chinese, Hispanic, Arabic-speaking, and Russian-speaking immigrants displace the native-born Italian-Americans.