Two Building Package – 226 7th Avenue & 400 7th Avenue

226 7th Avenue

Park Slope

Gross SF 13,600
Cap Rate 4.83%
Total Units 16
Subways
f
g
r
Buses
B67, B69
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Mixed-Use 226 7th Avenue, Park Slope
Ofer Cohen
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Details

Total gross income $745,006
Total NOI $647,145

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of a two-building portfolio in Park Slope, Brooklyn. The addresses include 226 7th Avenue and 400 7th Avenue and offer a rare opportunity to own classic Brownstone Brooklyn mixed-use walk-ups.

Together, the properties consist of 16 units – 12 residential and four commercial. The large residential units are newly renovated and represent a good opportunity for a 1031 exchange buyer. Situated along 7th Avenue, one of Park Slope’s and Brooklyn’s most prominent retail corridors, the fully occupied retail spaces each have long-term leases with market-rate rents.

Attractions

Located in proximity to each other, both properties are just a few blocks from Prospect Park and are near New York Methodist Hospital which is undergoing a $450M expansion. The properties are also situated in a renowned NYC school district. Tenants within the buildings include the world-famous Bagel Hole, Mr. Falafel, City Roots Realty, and Hanki. There are dozens of national and local retailers along 7th Avenue including Barnes & Noble, Rite Aid, Burger Village, Chipotle,Connecticut Muffin, Union Market, Café Steinhof, Fonda, Brookvin, and Hancos.

The nearest subway station is just a few blocks away servicing the F and G trains at the 7th Avenue station and is along the B67 and B69 Bus routes. Atlantic Terminal is also in proximity servicing over 11 subway lines as well as the LIRR.

Prospect Park
Methodist Hospital
Barnes & Noble
Rite Aid
Burger Village
Chipotle
Muffin
Union Market
Café Steinhof
Fonda
Brookvin
and Hancos.

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