280-288 Utica Avenue, Crown Heights NY

Crown Heights, Brooklyn, New York 11213

$9,250,000  

Listing ID Number

25465

Property Description

Cushman & Wakefield is pleased to present, 280-288 Utica Avenue // 1182 Eastern Parkway, Crown Heights, a 10,800 sq. ft. commercial building located on the corner of Utica Avenue and Eastern Parkway. The three story building offers 165’ of wrap around frontage on Utica Ave and Eastern Parkway and just steps to express subways and buses. The asset is comprised of retail tenants on the ground floor with two additional stories of commercial space. Situated on a 5,426 sq. ft. lot, the building offers an additional 7,648 sq. ft. of unused ‘air rights’. The building benefits from its busy corner thanks to the B14 / B17 buses and 3 & 4 subway lines. The second and third floors could potentially be delivered vacant, posing a fantastic redevelopment for residential / office.

Please reach out to the exclusive brokers to schedule a formal tour.

Overview

Building Type:Commercial Buildings
Lot Sq Ft:5,426
Available Air Rights:7,648
Stories:3
Units:16
Zoning:C4-3
FAR:3.4

Summary

Capitalization Rate:5.63%

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Daniel Abbondandolo
Director
(718) 512 2606
dan.abb@cushwake.com

Kevin Schmitz
Senior Associate
(718) 512 2628
kevin.schmitz@cushwake.com

George Bukawyn
Associate
(718) 606-7073
George.Bukawyn@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.