Mixed Use For Sale
3,200 Sq Ft
Premium Flagship Retail Mixed Use Property for Sale -- Located in North Williamsburg's Highest Priced Retail & Residential Corridors. Introducing an extraordinary opportunity for ownership of 205 Bedford Avenue, the most prime Williamsburg real estate on the market. Nestled between North 5th Street & North 6th Street, the area boasts the highest asking retail rents in North Williamsburg and Tops Brooklyn retail charts as well. As reported in the REBNY 2017 Summer report asking rents on Bedford Avenue between North 4th & North 8th Street in Williamsburg Brooklyn Averaged $393/SF. There is potential to re-position the existing building to maximize the ground floor retail or develop a full commercial building both scenarios projecting well above a 6% Cap Rate. Existing Building & Property Features: Current Zoning is R6B, C1-4. Set on a 20' X 80' lot, the existing 4-story masonry & framed building is ~ 3,200 SF above grade. A full-height cellar offers an additional ~ 728 gross SF. It currently consists of 3X income-producing units: The ground floor restaurant/retail space has soaring 10' ceilings and over 500 SF of outdoor space. The 2nd floor unit is an oversized studio with a loft-like layout, featuring triple-exposures and over 9' high ceilings. A spacious 3 bed/1 bath duplex is set on the top 2 floors. The multiple exposures allow for abundant natural sunlight in both units. Unique details include: original hardwood flooring, custom woodwork, moldings and exposed brick. This stately address can be easily converted to a ~2,167 SF triplex residence with substantial commercial rental income potential. The central location is 1.5 short blocks away from the Bedford L subway station and 4 blocks from the NYC Ferry. Located in the epicenter of Williamsburg Northside. This food, tourist and shopping mecca has seen a dramatic transformation that is on par with the top destinations in New York City. The presence of major chains, national retailers, luxurious new developments and hotels have triggered the vibrant revitalization of Williamsburg, Brooklyn. Unquestionably, this is a "not-to-be missed" opportunity! Please call The Forray Team today for the property set up or schedule a viewing.