The Nowak Group of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 413 20th Street, an industrial and office building located in the South Slope neighborhood in Brooklyn. The subject property sits on a 125 x 100.17- foot, M1-1 zoned lot between 7th and 8th Avenue (Block: 887 Lot: 54).
The building totals 16,500 square feet spread across two levels. The ground floor features 12,500 square feet of industrial space with 24-foot ceilings. The second-floor features 4,000 square feet of office space.
The building was built to suit in 2019 by the current tenant Sedona Marble & Granite NYC. A sale leaseback can be negotiated with the current tenant. The tenant is willing to sign a 10-year, triple net (NNN) lease at closing for $50,000 per month ($37 PSF) with 2.5% annual increases.
The property is located 7 blocks from the 15 Street - Prospect Park (F, G) subway station and a short walk to the Prospect Avenue (R) subway station. Investors have the opportunity to purchase a strategically located commercial property in the South Slope neighborhood.
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