Mixed-Use Building in Boerum Hill

139 Nevins Street

Boerum Hill

$1,750,000

Cross Streets Dean/Bergen St
Gross SF ~3,094
Total Lot SF 1,500
Subways
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Other Transportation
Long Island Rail Road
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Mixed-Use 139 Nevins Street , Boerum Hill
Matthew Cosentino
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Details

Commercial Unit 1
Residential Units 2
Zoning R6A

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 139 Nevins Street, a mixed-use building in Boerum Hill tucked among quintessential brownstone streets and small neighborhood retail. This three-story, 3,094 SF building offers the opportunity to obtain a property in one of Brooklyn’s prime neighborhoods with a strong in-place commercial tenant.

The building consists of two floor through residential units above a commercial space occupied by The Language and Laughter Studio, a language immersion center for children that has become a fixture in the area. The commercial space was fully renovated within the last two years. One of the units is owner-occupied, has been fully gut renovated, and will be delivered vacant. When occupied, the building will generate a gross annual income of ~$146,436 and an NOI of $121,283. At the asking price, the property equates to a 7% cap rate (~565/SF), a rare return for such an established neighborhood.

 

Attractions

Ideally situated within proximity to the major transportation hub at Atlantic Terminal, the property also sits on the same block as other strong retail tenants, including Tribeca Pediatrics and Taiki Sushi Bar.

Tribeca Pediatrics
Taiki Sushi Bar

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