Large Brick Corner Mixed-Use Property in Bushwick
854 Bushwick Avenue
Bushwick
Closed 06/29/2022 at
$3,250,000 | $450 per SF
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of 854 Bushwick Avenue, a large brick mixed-use building located at the corner of Kossuth Pl & Bushwick Avenue in the Bushwick neighborhood of Brooklyn.
This four-story 7,372 SF property is fully occupied and renovated, with a total of 9 units (7 apartments and 2 commercial spaces). Five out of the seven residential units are free market. One of the commercial spaces is occupied by Salt & Pepper, a local grocery store and the other is occupied by a Covid testing site. Currently, the property has a gross income of ~$246,160 and a net operating income of $187,654. At the asking price, this equates to a cap rate of 5.77%.
Attractions
The property sits close to popular local nightlife, restaurants, bars and coffee shops. Some highlights include Hart Bar, Ornithology Jazz Club, BK Bagels, Fat Doughnut, Le Garage, Wonderville and the Buren. It is also in close proximity to Maria Hernandez Park and benefits from nearby transit options with the M train at Central Avenue Station as well as the J train on Kosciuszko Street.