3008 Fulton Street – Multi-Tenant Retail Space with Air Rights
3008 Fulton St, Brooklyn, New York, NY 11208, USA Map
Two-Tenant Net Leased, Single Story Retail Building with Gym and Supermarket Plus 41,257 Sq. Ft. of Available Air Rights
Listing Price $4,594,000
| Status | Active |
| Lease Type | Double Net |
| Property Type | Mixed-Use |
| CAP Rate | 4.22% |
| GLA (Sq. Ft.) | 12,792 |
| NOI | $193,980 |
| Lease Term Remaining | 11 Years |
| State (BOR) | New York |
| Broker of Record | Susan Bands |
| License # (BOR) | 10311209023 |
Investment Highlights
- Subject Property is a One-Story, Two-Tenant Supermarket and Gym with 12,792 Square-Foot on a 0.29-Acre Lot Strategically Located On a Hard Corner with 54,000 Gross Buildable Square Feet Near Fulton St., J Train Stop
- Infill Site with Air Rights, Located Five Miles West from John F. Kennedy International Airport, the Sixth Busiest Airport in the United States, Serving Over 62 Million Passengers Annually as of 2019 Estimates | Ten Miles South of LaGuardia Airport with 30M Annual Passengers
- Two Tenant, Net Leased Essential Grocery and Gym with Air Rights, Minimal Landlord Expenses and Dramatic Air Rights Development Play
- High Visibility to Robust Traffic Counts on Fulton Street (13,655 VPD) and Nearby Atlantic Avenue (49,386 VPD) | Queens Midtown Expressway Serves Over 81,483 VPD Less than One Mile from Subject (Source: NYDOT, CoStar 2020 Estimates)
- Subject Property is Located Two Miles Away from Columbia University (31,500 Students) and Four Miles Away from Brooklyn College (17,735 Students)
- Nearest Middle School is P.S. 89 (432 Students) and Achievement First Pollo Charter School (849 St), while the Nearest High School is Voc HS of Transit Tech (0.5 Miles) and Success Academy Charter School (580 Students)
- Transportation Via Subway (J Train) is Less Than a Mile Away from Multiple Stations Serving Over 1.4 Million Riders Annually | Subject is Located an Approximate 40-Minute Train Ride from Lower Manhattan
Nearby Atlantic Ave/Sheperd Ave Bus Stop Serves Route Q24 and Sees Over 4,800 Daily Passengers - Award-Winning, 588-Bed Jamaica Hospital is Located Within Half of a Mile of Subject | Features Acute Care Services, Educational Programs, and Level 1 Trauma Unit
- Over 2.45 Million People Reside in Approximately 882,650 Households with an Average Household Income of Nearly $86,000 Annually, within Five Miles of Subject
- Parks and Outdoor Recreational Facilities Nearby Include Highland Park, City Line Park, Sperandeo Brothers Playground, George Walker Jr. Park, Cypress Hills Playground and More
- Less than Two Miles from Gateway Plaza Mall (50+ Stores and Services) and the Shops at Atlas Park Open-Air Shopping Mall (45+ Stores and Restaurants) Tenants Include: Starbucks, Regal Cinemas, Home Depot, Target, Best Buy, Shoprite, JC Penney, BJ’S Wholesale Club, Aldi, Petco, Marshalls and Many More
Investment Overview
Marcus & Millichap is pleased to offer for sale a one-story corner supermarket located at 3008 Fulton Street. (Block & Lots: 03956-0043). The total square footage is 12,792 SqFt with lot dimensions of 129 feet x 111 feet totaling 18,016 SqFt. Zoned for R6A, R5B, C2-4, EC-6 with a potential of 41,256 SqFt of Air Rights the property offers an investor several value-add opportunities. The subject property is just steps away from the Cleveland Street Subway Station, serving a 30 -minute train ride from Lower Manhattan. This is an opportunity to invest in a dynamic section of Brooklyn.
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