1670-1678 E 17th Street

PROPERTY METRICS

Property Size 10,900
Cap Rate 7.87%
Price / sq ft $482
Price $5,250,000
Property Type Office
Address 1670-1678 E 17th St
City Brooklyn
State NY
Zip 11229
Units 12

PROPERTY DETAILS

The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 1670 East 17th Street, a three-story mixed-use commercial elevator building with retail and offices located between Kings Highway & Quentin Road in the Sheepshead Bay neighborhood of Brooklyn, NY. The subject property is built full on a 73.83 ft x 119.42 ft, R7A, C4-4A zoned lot (Block: 06779 Lot: 0033) totaling 3,903 SF. The property enjoys substantial light and air throughout with 4 suites on each floor totaling 12 units with a storage unit in the basement. The current zoning permits an additional 4,700 SF to be added to the property. It features 73.9 ft of frontage on East 17th Street.

The subject property is located one block from the Kings Highway subway station, serviced by the B & Q lines as well as by the B2, B31, B82, and B100 bus lines. Investors and developers have the opportunity to purchase a partially cash-flowing commercial building with vacant upper-level floors presenting an immediate value-add opportunity located along a prime commercial and residential corridor in the emerging Homecrest subsection of Sheepshead Bay in Brooklyn where demand for commercial and residential space remains strong.