1715 Nostrand Ave

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1715 Nostrand Ave, Brooklyn, NY 11226

  • Mixed Use

1715 Nostrand Ave, Brooklyn, NY 11226 - Mixed Use Space

1715 Nostrand Ave is located at 1715 Nostrand Ave in the Flatbush neighborhood, NY, Brooklyn, 11226. The Mixed Use building was completed in 1930 and features a total of 4,560 Sqft.

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Details

  • Sale Price Contact for pricing
  • City Brooklyn
  • Neighborhood Flatbush
  • Zip Code 11226
  • Market Brooklyn
  • Property Type Mixed Use
  • Property Size 4,560 Sqft
  • Units 4
  • Lot Size 0.04 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1930
  • Date Updated 05 Dec, 2020

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.com.

Description

TerraCRG has been exclusively retained in the sale of 1715 Nostrand Avenue – a free market mixed-use building located in Flatbush.

The three-story building is 4,560 SF with three free-market residential units over one ground floor retail unit. The apartments consist of two floor-through four-bedroom four-bath and one two-bedroom two-bath unit with separated heating for each unit. The commercial space is currently occupied by a successful salon paying full rent.

The property has an in-place gross income of $130,368 and a Net Operating Income of $115,340 which represents a ~6% Cap Rate at the asking price.

The property has great subway access set just two blocks from the 2 and 5 trains at the Newkirk Avenue Station, providing an easy commute to Downtown Brooklyn and Lower Manhattan. Major attractions in proximity to 1715 Nostrand Avenue include Prospect Park and the newly renovated Kings Theatre just a few blocks away, which brings in world-renowned talent and entertainment. Sitting along the Nostrand Avenue retail corridor, the building is surrounded by restaurants, cafés, and national tenants, as well as boutique shops and eateries. 

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 1715 Nostrand Ave?

1715 Nostrand Ave totals 4,560 square feet.

When was this property built?

1715 Nostrand Ave was built in 1930.

Flatbush Demographics

The average household income in zip code 11226 is $69,166, from a total of 36,733 households. In terms of employment, there are 84.11 % white-collar and 15.89 % blue-collar jobs in zip code 11226.

Population

  • Total Population100,277
  • Male Population(45.0 %) 45,123
  • Female Population(55.0 %) 55,154
  • Median Age34.70

Income/Financial

  • Average Household Income$69,166
  • Median Household Income$52,052
  • Median Income Under 25$47,993
  • Median Income 25-44$62,636
  • Median Income 45-64$51,392
  • Median Income Over 65$34,392

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Michael Hernandez

TerraCRG

Matt Cosentino

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(718) 768-6888

Peter Matheos

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(718) 768-6888

Isaiah Thomas

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