Cash-Flowing Commercial Condos in Brooklyn Heights

151-155 Atlantic Avenue

Brooklyn Heights

Total Building Gross SF 7,708 SF
Cross Streets Henry + Clinton Street
Building Size 25 ft x 80 ft
Subways
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Commercial Condo 151-155 Atlantic Avenue, Brooklyn Heights
Dan Marks
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Details

Tax Assessment (19/20) $242,624
Current NOI $242,375

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of two adjacent, cash-flowing commercial condos in Brooklyn Heights, located at 151-155 Atlantic Avenue.

The two properties provide the opportunity to acquire 50 ft of frontage and 7,708 SF on Atlantic Avenue between Henry Street and Clinton Street. 151 Atlantic Avenue is currently occupied by the restaurant Beasts & Bottles with a lease expiring in less than a year (2020) and one five-year renewal option. 155 Atlantic Avenue is currently occupied by Brando Thin Crust with a lease expiring in 2026. At asking price, the property represents a 4% cap rate and is a good opportunity for a 1031 or value-add buyers.

Attractions

Brooklyn Heights is one of Brooklyn’s most sought-after neighborhoods for both residents and tourists alike. This particular stretch of Atlantic Avenue is teeming with restaurants, bars, and artisanal shops frequented by the nearby Brownstone Brooklyn and new construction residents nearby. Some renowned retailers include Table 87, Sahadi’s, Trader Joes, Luzzo’s BK and Swallow Café.

The property is located just a few blocks from Brooklyn Bridge Park, the Brooklyn Heights Promenade, and the Montague Street retail corridor. The Clark Street Subway Stop and Borough Hall stops are just steps away, with access to the 2, 3, 4, and 5 trains.

Table 87
Sahadi’s
Trader Joes
Luzzo’s BK and Swallow Café

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