Closed 03/27/2015

~16,500 SF Retail/Office Building in Bath Beach/Bensonhurst

8702-8712 18th Avenue

Bensonhurst/Bath Beach

Closed 03/27/2015 at
$3,650,000

Stories 2
Units 1
Gross SF ~16,500
Cross Streets Rutherford Place & 18th Avenue
Subways
d
Other Transportation
Belt Parkway
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Industrial/Office 8702-8712 18th Avenue, Bensonhurst/Bath Beach
~16,500 SF Retail/Office Building in Bath Beach/Bensonhurst
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Details

Block-Lot 6402-65/67
Lot Size 100 ft x 97 ft
Building Class K4/K5
Ground Floor SF ~7,500
Parking Spots 6
Zoning C2-2/R5
Lot SF 4,834
FAR 1.25

Overview

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.

Attractions

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.

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