Closed 06/22/2021

Corner Mixed Use Building in Bushwick

17-12 Menahan Street

Bushwick

Closed 06/22/2021 at
$2,700,000 | $511 per SF

Size 5,280 SF
Units 6
Zoning R6B
Cross Streets Cypress Ave + Menahan Street
Subways
l
m
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Mixed-Use 17-12 Menahan Street, Bushwick
Matthew Cosentino
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Details

NOI $168,501
Cap Rate 6%

Overview

TerraCRG has been retained to represent ownership in the sale of 1712 Menahan Street, a free-market, mixed-use building on the Bushwick border.
Located on the corner of Cypress Ave and Menahan Street, the property offered provides the opportunity to acquire a five-over-one fully occupied corner brick building. The
essential grocery tenant in the ground retail space is currently operating with a high-traffic clientele. The five apartments have been gut renovated and feature condo-
quality finishes and appliances. The building benefits from a shared roof space.
The effective gross income is $210,180 with an NOI of $168,501. At asking price, opportunity represents a 6% Cap Rate and $530 price per SF.
The building is advantageously situated on a high traffic intersection near subway transit. There is a myriad of dining, arts, and entertainment in the immediate vicinity 1712 Menahan Street is also just a few blocks from the M train at Seneca Avenue, as well as the L train at Myrtle- Wyckoff station.

Attractions

The building is advantageously situated on a high traffic intersection near subway transit. There is a myriad of dining, arts, and entertainment in the immediate vicinity 1712 Menahan Street is also just a few blocks from the M train at Seneca Avenue, as well as the L train at Myrtle- Wyckoff station.

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