1306 Atlantic Avenue

12 Apartments over Retail in Crown Heights

MIXED-USE

1

# OF PROPERTIES

13,740 SF

BUILDING SIZE

13

UNITS

5.42%

CAP RATE

Investment Highlights

Westbridge Realty Group has been retained as the exclusive broker to sell 1306 Atlantic Avenue, aka 553 Nostrand Avenue, a 4-story corner mixed-use building in Crown Heights, Brooklyn. Built 42.5’ x 90’, the building spans 13,740 square feet and contains 12 apartments over 1 retail store, occupied by an organic food market. The food market is paying $16,320 / month with 12 years remaining on the lease and two 5 year options. They also pay 40% of the taxes and water bill.

The property benefits from a stellar location on the corner of Atlantic Ave and Nostrand Ave in the Crown Heights section of Brooklyn. Over the last 5 years, gentrification has flooded the immediate area with the development of luxury condominiums and high-end retail tenants. The property is just steps away from the A and C subway trains.

Listing Agents