Brick Mixed Use Building in Bed-Stuy
104 Marcus Garvey Boulevard
Bedford-Stuyvesant
Closed 12/09/2014 at
$930,000
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of the mixed use building located at 104 Marcus Garvey Boulevard in the Bedford Stuyvesant neighborhood of Brooklyn.
The brick building is located between Vernon Avenue and Willoughby Avenue, two blocks from the J/M/Z at the Myrtle Avenue station and three blocks from the G train at the Myrtle/Willoughby station.
The three story 3,300 SF building consists of two floor-through residential units and one retail store. Each residential unit is 1,100 SF and consists of 4 bedrooms and 1 bath. The residential units are in need of renovation, both will be delivered vacant.
The building has 1,100 SF of retail space that is currently occupied by a Chinese restaurant. The retail tenant pays $2,350 /month with $50/year increases and also is accountable for 75% of the total water bill as well as their own electric bill – the lease expires in 4.5 years. When occupied, the gross rental projection for the property is approximately $90,000/year.
Attractions
The property is located just blocks from the Myrtle Avenue/Broadway intersection which is home to many exciting retail stores including Skytown, a new American bar and grill;Mr. Kiwi’s a boutique grocery that supplies fresh produce, healthy eating alternatives and craft beers; Bed Stuy Beer Works, a bottle shop that offers over 350 different brands of craft beer; and Goodbye Blue Monday, a coffee shop and bar that has nightly live performances. The property is conveniently located 2 blocks away from the J/M/Z train (at the Myrtle Avenue station) and 3 blocks from the G train (at the Myrtle/Willoughby station).