Retail + Development - 1.5M Gross + 70K BSF

For Sale - 1100 - 1114 KINGS HIGHWAY- Brooklyn - Sheepshead Bay

$37,500,000

Net Operating Income: Contact Agent

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Key Details

Property Type
Mixed Use
Neighborhood
Sheepshead Bay
Property Dimensions
108.67 x 214.02
Property Area
21,500 sq.ft.
Total Units:
3
Stories:
1
NOI
Contact Agent
Price
$37,500,000

Listing Description

B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale of 1100 Kings Highway in the Gravesend neighborhood of Brooklyn.
• Subject property is a single-story retail property that spans 251.47’ x 108.67’, with total gross square footage of 43,180.
• Property includes J.P. Morgan Chase and Dress Barn as tenants along Kings Highway, generating a gross income of over $1.4 million annually.
• Departing tenants at the rear tax lot of the property along Kings Highway would allow developer to build up to 90,377 buildable square feet as-of-right, including the transfer of air rights from the corner tax lot.
• Kings Highway and Coney Island Avenue are two of Southern Brooklyn’s busiest corridors and major thoroughfares, which sees approximately 38,000 vehicles passing daily at this intersection.
• Located in a area that surrounded with many other national retailers such as Walgreens, Santander, CitiBank, TD Bank, Northfield, Capital One, 24 Hour Fitness, City MD, Chipotle, Starbucks, and Aldo Shoes.
• The site would be eligible for Affordable NY (421a), offering a 35-year tax abatement with 30% of the units rented at 130% AMI.
• Public transportation are available via the B Q trains, located at express Kings Highway station and B7, B68, B82, and B82 Select-ABus lines available directly in front of the property.

Property Details

Block/Lot:
6794/78
Lot Dimensions
108.67 x 214.0
Lot Area
19,275 sq.ft
Zoning:
C4-4A
FAR as Built:
1.12
Max FAR:
4.0
D.J. JohnstonB6 Real Estate Advisors
Contact Agent Download Listing Flyer

Sales & Transactions

AddressSale PriceSale DateProperty Type
2589 OCEAN AVENUE$950,00006/07/2018Mixed Use
1020 AVENUE X$765,00004/25/2018Mixed Use
2402 BRAGG STREET$1,100,00002/27/2018Mixed Use
1417 GRAVESEND NECK ROAD$495,00002/23/2018Mixed Use
2208 AVENUE U$1,300,00002/15/2018Mixed Use
2616 EAST 28TH STREET$499,99906/27/2017Mixed Use
2791 FORD STREET$428,00003/28/2017Mixed Use
2617 CONEY ISLAND AVENUE$1,200,00012/28/2016Mixed Use
1809 GRAVESEND NECK ROAD$700,00009/29/2016Mixed Use
2214 AVENUE U$650,00006/21/2016Mixed Use