Free Market Mixed-Use Building in Cypress Hills

4 Arlington Avenue

Cypress Hills

$2,450,000

Retail units 4
Residential Units 2
size 9,250 SF
Cap rate 6.5%
Subways
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Mixed-Use 4 Arlington Avenue, Cypress Hills
Matthew Cosentino
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Overview

TerraCRG has been retained to exclusively market a ~9,250 SF free market, gut renovated, mixed-use building on Arlington Ave in Cypress Hills, Brooklyn. The corner property consists of two apartments and four retail spaces.

At asking price, the property has a 6.5% cap rate and is ~$265/SF. Expenses on the properties are low because all of the utilities have been separated. There is also existing upside on the residential units which are three-bed/two-bath units with terraces. The building was fully gut renovated including all new central AC/ heat, electric, plumbing, beams, joists, and roof. 4 Arlington Avenue currently has a projected gross income of $198,600 and an NOI of $155,915.

Attractions

The property is two blocks from the J train at Van Siclen Avenue and ideally located a few blocks from Broadway Junction, which provides easy access to the A/C/L/J/Z trains, as well as the Jackie Robinson Parkway. The property is also near Highland Park and the seven-floor, 75,000-square-foot Health Hub facility. The property is also directly across the street from a new construction senior center.

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