1183-1189 Flatbush Avenue
Land | 0.3 acres
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the investment property located at 1183-1187 and 1189 Flatbush Avenue in Brooklyn, New York (the “Property” or “Properties”). The Property is improved with a single-story 7,975 square foot building that sits on a combined 0.30-acres of land and offers approximately 100 feet of frontage along Flatbush Avenue (in between Vanderveer Place and Avenue D). The Property is currently leased to Flatbush Discount & Deals through January 31, 2028. The Property offers developers the rare opportunity to purchase a large development site with 100 feet of frontage on Flatbush Avenue that allows for 47,200 buildable square feet “As of Right” in the Flatbush neighborhood of Brooklyn, New York.
The Property is situated in an incredible urban in-fill location along Flatbush Avenue in the Flatbush neighborhood of Brooklyn. 1183-1187 & 1189 Flatbush Avenue is located between Avenue D and Vanderveer Place and enjoys convenient access to the MTA bus line, several subway stations, Prospect Park and Brooklyn College. Flatbush Avenue is one of the area’s primary commercial and commuter corridors and enjoys convenient access to area amenities including countless restaurants, retailers, businesses, and service tenants. The Property is close to several area parks and schools and is 3.1-miles from the Barclays Center, and 4-miles from Downtown Brooklyn.
Investment highlights
ZONING: The Property is Zoned R7A, R5B, and C2-4 (East Harlem Corridors District) allowing for a 47,200 square foot building “As of Right”. Versatile zoning allows for residential or commercial use at the site.
SUPERIOR LOCATION: The Property is well-located in a densely populated mixed- use (commercial and residential) neighborhood with many walkable amenities, including public transportation (Subway, LIRR, and Municipal Bus), King’s Theatre, Prospect Park, Marine Park, and countless retailers, restaurants and bars.
The Property is in the Flatbush neighborhood of Brooklyn and offers convenient access to public transportation. The Property is positioned along the municipal bus line (Route B41) and is convenient to several other bus stops. The Property is a short walk from the Beverly Road, Cortelyou Road, Newkirk Plaza, and Flatbush Ave/Brooklyn College Subway Stations with service along the 2, 5, B & Q Trains. The Property is also just 1.5-miles from Subway Stations with service on the F & G Trains.
Brooklyn consistently rates as one of the best real estate markets in the region due to its high-density neighborhoods, quality-of-life amenities, public transportation access, proximity to educational institutions, and proximity to the employment centers of Downtown Brooklyn, Queens, and Manhattan.
IN-PLACE COMMERCIAL LEASE: 1183-1189 Flatbush Avenue is currently occupied by Flatbush Discount & Deals. The Flatbush Discount & Deals lease continues until January 31, 2028, and they do not have any renewal options. Flatbush Discount & Deals is responsible for all utilities and general repairs & maintenance to the interior and storefront of the building. Flatbush Discount & Deals also maintains commercial liability, workers compensation and rental insurance and reimburses their pro-rata share of increases in real estate taxes above their base year (2021-2022).
STRONG DEMOGRAPHICS: More than 186,100 people live within 1-mile of the Property with an average household income of $123,612. More than 1,232,000 people live within 3-miles of the Property with an average household income of over $129,374. Additionally, there are more than 262,800 employees within 3-miles of the Property.
TRAFFIC COUNTS: More than 13,000 vehicles pass the property each day along Flatbush Avenue.
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