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223 Knickerbocker Ave
Brooklyn, NY 11237 Bushwick

$1,750,000 USD

Storefront Retail Residential For Sale  •  3,762 SF

Property Details

• Property Type Storefront Retail Residential
• Total Building Size 4,675 SF
• Lot Size 0.06 AC
• Building Class C
• Year Built 1931
• Cap Rate 7.35 %
• Tenancy Multiple
• Zoning R6

100 Transit Score

100 Walk Score

Highlights

Cashflow + Upside: Currently grossing $186K, with clear path to achieve $200K via increases to legal and market rents

50% Free Market: Three units are fully free market and three units are rent stabilized (one of which has a high legal rent of $3,725)

Renovated With High-End Finishes: The three FM units are fully renovated with high-end appliances and fixtures and includes in-unit laundry

Transit Oriented Location: The L-train is just two blocks away at Jefferson St, with access to Williamsburg and Union Square within 15 minutes

Desirable Location: One block from Maria Hernandez Park, on Knickerbocker Avenue, the focal point of North Bushwick

Cap Rate:

7.35 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Richele Fashion

Public Transportation

Commuter Rail	Drive	Walk	Distance
Nostrand Avenue Station (Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	10 min	-	2.9 mi
East New York Station (Far Rockaway Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	8 min	-	3.0 mi
Transit/Subway	Drive	Walk	Distance
Jefferson Street (L - New York MTA Subway (The Subway))	1 min	6 min	0.3 mi
Morgan Avenue (L - New York MTA Subway (The Subway))	2 min	9 min	0.5 mi
DeKalb Avenue (L Line) (L - New York MTA Subway (The Subway))	2 min	10 min	0.5 mi
Knickerbocker Avenue (M Line) (M - New York MTA Subway (The Subway))	2 min	10 min	0.5 mi
Central Avenue (M - New York MTA Subway (The Subway))	2 min	10 min	0.5 mi
Airport	Drive	Walk	Distance
LaGuardia	16 min	-	6.8 mi
John F Kennedy International	23 min	-	11.9 mi
Newark Liberty International	31 min	-	16.6 mi