130 Montague Street
Retail | 7.50% CAP | 7,569 SqFt
Marketing description
The New York Multifamily Group at Marcus & Millichap is pleased to exclusively present 130 Montague Street, an 11-unit mixed-use property located along the premier retail corridor of Brooklyn Heights — New York City's first landmarked historic district. The asset features two established commercial tenants and a collection of residential apartments, generating $414,373 in current NOI with a clear value-add opportunity to achieve $455,942+ pro forma NOI.
Positioned on highly coveted Montague Street, the property benefits from exceptional foot traffic, affluent demographics, and one of the strongest neighborhood retail corridors in Brooklyn. Surrounded by national and boutique retailers, premier dining, and luxury residential housing, 130 Montague Street offers investors durable in-place cash flow within an irreplaceable brownstone neighborhood.
The offering presents a rare opportunity to acquire a trophy mixed-use asset in one of New York City's most supply-constrained submarkets, with additional upside through mark-to-market opportunities and continued long-term growth in both the retail and residential income streams. The property also benefits from outstanding accessibility, with immediate proximity to multiple subway lines providing seamless connectivity to Downtown Brooklyn, Manhattan, and the greater New York City area.
Investment highlights
- 11-Unit Mixed-Use Asset with Two Established Commercial Tenants & 9 Residential Apartments
- Strong In-Place Cash Flow generating $414,373 Current NOI | 7.5% In-Place Cap Rate at $5,495,000 Asking Price
- Clear Value-Add Opportunity with Residential Units rented approximately 17–40% Below Market | $455,942+ Pro Forma NOI
- Located within an Opportunity Zone, offering potential Long-Term Tax Advantages & Embedded Appreciation Potential
- Positioned along the Premier Montague Street Retail Corridor in Brooklyn Heights — NYC's First Landmarked Historic District
- Steps from the Borough Hall Station (2/3/4/5/r Trains), Brooklyn Bridge Park, the Brooklyn Heights Promenade & multiple Ferry and Subway Lines providing seamless connectivity to Manhattan and Downtown Brooklyn
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