Cash Flowing Commercial Property in Prospect Heights

603 Bergen Street

Prospect Heights

$5,850,000

Zoning M1-1 Commercialy Zoned Block
Cross Street Vanderbilt Ave and Carlton Ave
Building SF 10,000 SF
Stories 2
Subways
b
c
d
n
q
r
2
3
4
5
Buses
B69, B65
Other Transportation
LIRR
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Commercial 603 Bergen Street, Prospect Heights
Dan Marks
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Details

Lot Dimensions 50 ft x 110 ft
Block-Lot 1137-73
Building Dimensions 50 ft x 100 ft

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 603 Bergen Street in Prospect Heights, Brooklyn. The offering represents a rare opportunity to acquire a cash-flowing commercial property in a neighborhood that is experiencing incredible growth with new residential and office developments on the rise.

The property is a fully renovated, 18-unit, commercial building, located between Vanderbilt and Carlton Avenues. The two-story, M-zoned property is comprised of ~10,000 SF and is fully occupied at an average rent of $41/SF. At the current NOI, this unique property is being offered at a 5.65% CAP Rate.

Attractions

Over the last decade, Prospect Heights, situated between Park Slope and Crown Heights, has become one of NYC’s most popular neighborhoods to live and work in. Just one block away is Pacific Park, the six-billion-dollar development project which will include approximately 17 high rise buildings for residential, mixed-use, and office space spread over 22-acres upon completion. The property is in the heart of thousands of new residential units and a plethora of retail activity.

603 Bergen Street is within short distance to several subway lines including the C train at Clinton-Washington, the 2, 3, B, and Q trains on Flatbush Avenue, as well as Barclays Center – Atlantic Terminal, servicing the 2, 3, 4, 5, B, D, N, Q, R, trains and the LIRR.

Barclays Center
Atlantic Terminal
Pacific Park

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