RIPCO Investment Sales has been exclusively retained to arrange for the sale of 8712-8724 4th Avenue in the Bay Ridge neighborhood of Brooklyn, NY.
The property comprises a two-lot corner assemblage with a combined footprint of approximately 12,000 SF. Lot 41 is currently improved by a two-story 8,875 SF commercial building with a rear 5-car parking lot. The building is net-leased to CityMD until August 2028 with a 5-year option and NOI of $360,000. The corner lot 45 hosts a 2,400 SF single-story bank building with a drive-thru and 6-car parking lot. The property is net-leased to Citizens Bank until 2027 and generates an NOI of $141,300 presenting a covered land play. 8712-8724 4th Avenue presents a very unique opportunity to acquire a pair turn-key net-leased assets with minimal maintenance, and retain the option to develop the corner lot in the near future into a mixed-use development with 27,125 ZFA by means of a zoning lot merger.
For more information or to arrange for a property inspection, please contact our exclusive brokers.