MIDWOOD, BK DEVELOPMENT OPPORTUNITY | 1617 Avenue M
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MIDWOOD, BK DEVELOPMENT OPPORTUNITY 1617 Avenue M
10,318 SF Vacant Retail Building Brooklyn, NY 11230 $16,888,750 CAD ($1,637 CAD/SF) 1.24% Cap Rate
Executive Summary
Property Highlights
- TOTAL BUILDABLE SQUARE FEET 47,600+/-
- Steps From the Avenue M Subway Entrance with Over 1.1M Annual Riders
- Ripe for Development or Redevelopment
- Located in the Heart of Midwood Brooklyn, Bustling with Daytime Foot-Traffic from the Surrounding Schools and Neighborhood Residents. 7-Eleven, Alone, See's Over
372,000 Visits Annually.
- Alley for Loading & Employee Parking on East 17th Street
- Municipal Parking Lot Behind the Property on East 17th Street
- Entrances on Both Avenue M and East 17th Street
1617 Avenue M
- 2-Story Building, Very Unique Space; Originally a Movie Theatre,Formerly Apple Bank
- First Floor: 7,300 SF, High Ceilings, 28ft to Joists
- Second Floor: 3,000 SF
1619 Avenue M
- 2,800 SF One-Story Building
- Leased on a NNN basis to 7-Eleven Through 2026 with one 5-Year Option Thereafter
- 7-Eleven currently pays $146,410. If they execute their option, rent will increase to $161,051
- TOTAL BUILDABLE SQUARE FEET 47,600+/-
- Steps From the Avenue M Subway Entrance with Over 1.1M Annual Riders
- Ripe for Development or Redevelopment
- Located in the Heart of Midwood Brooklyn, Bustling with Daytime Foot-Traffic from the Surrounding Schools and Neighborhood Residents. 7-Eleven, Alone, See's Over
372,000 Visits Annually.
- Alley for Loading & Employee Parking on East 17th Street
- Municipal Parking Lot Behind the Property on East 17th Street
- Entrances on Both Avenue M and East 17th Street
1617 Avenue M
- 2-Story Building, Very Unique Space; Originally a Movie Theatre,Formerly Apple Bank
- First Floor: 7,300 SF, High Ceilings, 28ft to Joists
- Second Floor: 3,000 SF
1619 Avenue M
- 2,800 SF One-Story Building
- Leased on a NNN basis to 7-Eleven Through 2026 with one 5-Year Option Thereafter
- 7-Eleven currently pays $146,410. If they execute their option, rent will increase to $161,051
Property Facts
Sale Type
Investment
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Movie Theatre
Building Size
10,318 SF
Building Class
C
Year Built/Renovated
1930/1990
Price
$16,888,750 CAD
Price Per SF
$1,637 CAD
Cap Rate
1.24%
NOI
$209,549 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.99
Lot Size
0.24 AC
Zoning
C2-A Mapped in R7-A - Approximately 47,600 of buildable zoning rights
Frontage
76 ft on Avenue M
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- 7-Eleven
- -
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| 7-Eleven | - | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
7,300 SF on-grade with dual entrances.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 7,300 SF | Retail | In-Line | Now |
| 2nd Floor | 3,018 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 7,300 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2nd Floor
| Size |
| 3,018 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
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STREET VIEW
STREET
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1st Floor
| Size | 7,300 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
7,300 SF on-grade with dual entrances.
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2nd Floor
| Size | 3,018 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Rider's Paradise (90)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 06736-0048 | Improvements Assessment | $919,057 CAD |
| Land Assessment | $317,667 CAD | Total Assessment | $1,236,724 CAD |
PROPERTY TAXES
Parcel Number
06736-0048
Land Assessment
$317,667 CAD
Improvements Assessment
$919,057 CAD
Total Assessment
$1,236,724 CAD
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PHOTOS
STREET VIEW
STREET
MAP
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MIDWOOD, BK DEVELOPMENT OPPORTUNITY | 1617 Avenue M
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