Corner Mixed Use Building in Bushwick

Overview

TerraCRG has been retained to represent ownership in the sale of 1712 Menahan Street, a free-market, mixed-use building on the Bushwick border. Located on the corner of Cypress Ave and Menahan Street, the property offered provides the opportunity to acquire a five-over-one fully occupied corner brick building. The essential grocery tenant in the ground retail space is currently operating with a high-traffic clientele. The five apartments have been gut renovated and feature condo- quality finishes and appliances. The building benefits from a shared roof space. The effective gross income is $210,180 with an NOI of $168,501. At asking price, opportunity represents a 6% Cap Rate and $530 price per SF. The building is advantageously situated on a high traffic intersection near subway transit. There is a myriad of dining, arts, and entertainment in the immediate vicinity 1712 Menahan Street is also just a few blocks from the M train at Seneca Avenue, as well as the L train at Myrtle- Wyckoff station.