Cash-Flowing Commercial Asset in Gowanus

157 Thirteenth St

Gowanus

Building SF ~25,000
Lot SF 9,267
Building Dimensions 21 ft x 90 ft
Lot Dimensions 92.67 ft x 100 ft
Subways
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f
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Other Transportation
LIRR
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Commercial Development 157 Thirteenth St, Gowanus
Dan Marks
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Details

Gross Rent $844,000/annually
Net Operating Income ~$707,000/annually
Stories 3
Occupancy 100%
Opportunity Zone Yes

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of a 100% occupied office building at 157 Thirteenth Street in Gowanus, Brooklyn.

The three-story, approximately 25,000-square-foot building was fully renovated in 2016/2017 and leased entirely to The Yard in 2017 for 10 years with two 5-year options to renew. Gross Rent is currently $844,000/annually. The annual Net Operating Income is ~$707,000.

Over the past decade, Gowanus has been undergoing a major transformation. To the north, the neighborhood is in the midst of a major rezoning which will bring over 8,200 apartments to the surrounding area. This influx of residential density is sure to boost the ongoing demand for commercial space in the immediate area. As a sign of this activity, the property next door on Third Avenue is in development to build out a huge craft brewery and events space for The Collective Arts Brewery, which currently partially leases it.

 

Attractions

Other renowned retail options already in the area include Surfish Bistro, Table 87, Lucey’s Lounge, Four and Twenty Blackbirds, The Bell House, Halyards, Lowlands Bar, and Bar Tano. Lowe’s and Home Depot are one block away.

The site has exceptional transportation options with the F, G and R subway stations just three blocks away, as well as access to the BQE four blocks from the property.

Surfish Bistro
Table 87
Four and Twenty Blackbirds
The Bell House
Lucey's Lounge
Halyards
Lowlands Bar
Bar Tano

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