Mixed-Use Building in the Heart of Brooklyn

308 Atlantic Avenue, Brooklyn, NY, USA
Price: $5,100,000
Building Type: Mixed-Use Building
Lot Sq Ft 1,870
Lot Dimensions 22' x 85
Zoning: R6A / C2-4
Stories: 4
Residential Units: 2
Retail Units: 1
FAR: 3.83

About this property

ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 308 Atlantic Avenue, a four (4) story, mixed-use walk-up building, with two (2) free market residential units, two (2) offices and one (1) retail space on the south side of Atlantic Avenue between Smith Street and Hoyt Street. The new owner will have a great opportunity for upside since the lease for a retail space is below market value and expires in 2017.

The building has a 25 year tax abatement and has been completely renovated. Retail and office tenants jointly reimburse 70% of property taxes and all of the water/gas/electric expenses. The offices on the second floor are on month-to-month basis. The retail space has a renovated 1500 SF cellar which can be utilized for variety of uses. Additionally, the ground floor has an extension in the rear and occupies the full area of the lot. The property is just steps away from the A, C, G & F subway lines.

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