Cash-flowing retail building in Dyker Heights

6720 Fort Hamilton Parkway

Dyker Heights

Building SF 66,318 SF
Commercial Units 2
NOI $1,257,600
Cross Streets 68th St + Ft Hamilton Pkway
Subways
n
Buses
B16, B64
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Retail 6720 Fort Hamilton Parkway, Dyker Heights
Dan Marks
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Details

Tenant #1 Supermarket
Tenant #2 Bounce U

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 6720 Fort Hamilton Parkway, a 100% leased, cash flowing retail building in Dyker Heights.

The 66,318 SF property is two stories above grade with a level below grade; each floor is comprised of 22,106 SF. Located on Fort Hamilton Parkway, the block-through property has 200 feet of frontage on 9th Avenue, 160 feet on 68th Street and 100 feet on 67th Street.

The tenants include a supermarket with parking lot in the basement, and Bounce-U, a children’s event space and bounce gym which occupies space between the first and second floors. The supermarket’s lease goes until 2039 and Bounce-U will expire in 2029 presenting a financially stable investment. The tenants reimburse all expenses.

The opportunity offers a strong in-place income with an NOI of $1,257,600 annually with 3.0% annual rent increase.

The historic building was originally home to the former Fortway Theatre which opened in 1927 as a one-screen theater for movies and vaudeville acts. As trends changed, the Fortway became a triplex in the 1970s and expanded to 6 screens in the 1980s.

6720 Fort Hamilton Parkway is just a few blocks from the Fort Hamilton N subway station, the 8th Avenue N subway station, and the entrance to the BQE at 65th Street and 7th Avenue – all providing a ~20 minute commute to lower Manhattan.

Attractions

The historic building was originally home to the former Fortway Theatre which opened in 1927 as a one-screen theater for movies and vaudeville acts. As trends changed, the Fortway became a triplex in the 1970s and expanded to 6 screens in the 1980s.

6720 Fort Hamilton Parkway is just a few blocks from the Fort Hamilton N subway station, the 8th Avenue N subway station, and the entrance to the BQE at 65th Street and 7th Avenue – all providing a ~20 minute commute to lower Manhattan.

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