4501 Avenue N

For Sale$3,200,000

4501 Avenue N, Brooklyn, NY 11234

  • Mixed Use

4501 Avenue N, Brooklyn, NY 11234 - Mixed Use Space

4501 Avenue N is located at 4501 Avenue N in the Flatlands neighborhood, NY, Brooklyn, 11234. The Mixed Use building was completed in 1938 and features a total of 9,800 Sqft.

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Details

  • Sale Price $3,200,000
  • City Brooklyn
  • Neighborhood Flatlands
  • Zip Code 11234
  • Property Type Mixed Use
  • Property Size 9,800 Sqft
  • Lot Size 0.18 Acre
  • Year Built 1938
  • Date Updated 21 May, 2020

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Description

Ariel Property Advisors is pleased to present 4501 Avenue N, Brooklyn, NY 11234, a mixed use building that features a unique warehouse style commercial space. The 3-story building is located on the northeast corner of Avenue N and East 45th Street in the Flatlands section of Brooklyn.

The 9,800 SF building contains 2,000 SF of retail space combined with 6,000 SF of warehouse space on the ground floor. Above is a total of 1,600 SF of residential space consisting of two apartments. The commercial/warehouse space features a retail showroom and has 18’ ft ceilings throughout the 6,000 sf warehouse area. There is approximately 1,000 SF of mezzanine storage space in the warehouse with additional storage space in the approximately 800 sf basement. The two loading areas have curb cuts on the property with small truck access, one on Avenue N as well as one on East 45th Street. The residential units are both free market and consist of 2 two-bedroom apartments approximately 800 SF each. The tenants pay all utilities except water and sewer. The commercial/warehouse will be delivered vacant and both of the residential units are occupied. There is also additional income generated from a T-Mobile cell site antenna lease. They have a 5 year contract with two 5 year options with 3% annual increases.

The mixed-use building is located along the active N street commercial corridor that intersects with Flatbush Avenue a block away. The neighborhood is home to several popular destinations such as PC RIchards, Ashley Home Store, Dollar Tree as well as local eateries such as Starbucks and KFC. The B41 and Q35 bus serve the direct area with connections to the 4, 5, or 6 train in Flatbush. For vehicles Flatbush Avenue is one block away and is a 10 minute drive to the Belt Parkway entrance.

4501 Avenue N presents the opportunity to acquire a unique mixed use warehouse storage asset in a vibrant neighborhood with current cash flow from residential units as well as additional income from antenna lease.

FREQUENTLY ASKED QUESTIONS

What is the total square footage of 4501 Avenue N?

4501 Avenue N totals 9,800 square feet.

When was this property built?

4501 Avenue N was built in 1938.

Flatlands Demographics

The average household income in zip code 11234 is $102,731, from a total of 31,835 households. In terms of employment, there are 84.10 % white-collar and 15.90 % blue-collar jobs in zip code 11234.

Population

  • Total Population19,729
  • Male Population(46.6 %) 9,184
  • Female Population(53.4 %) 10,545
  • Median Age38.00

Income/Financial

  • Average Household Income$99,640
  • Median Household Income$73,650
  • Median Income Under 25$36,875
  • Median Income 25-44$76,849
  • Median Income 45-64$82,493
  • Median Income Over 65$58,061

Commercial Brokers Register now to add listings

Lawrence Sarn

Ariel Property Advisors

(212) 544-9500 x 54

Michael A. Tortorici

Ariel Property Advisors

(212) 544-9500 x 13

John Higgins

Ariel Property Advisors

(212) 544-9500 x 58