8501 New Utrecht Avenue

Description

Presenting a great investment opportunity in Bensonhurst, Brooklyn. The property is a 17,760 square foot commercial building located on the corner of New Utrecht Avenue and 85th Streetright across from the D train at the 18th Avenue Station and just steps from 86th Street, the busiest shopping area in the neighborhood. It has 131 feet of street frontage, giving it excellent visibility and foot traffic. The ground and second floors are leased to 1st Choice Social Adult Day Care under a lease that runs until February 2026. The lease includes 3% yearly rent increases and a 3-year renewal option. The tenant pays for all their own utilities, handles elevator maintenance, and reimburses 67% of the property taxes. The lower level (5,920 SF) is a fully finished space with high ceilings and an open layout. This makes it perfect for adding new uses or tenants. The current cap rate is 6.7%, with a projected cap rate of 8.3%, offering great income potential. This property is a strong, stable investment with room to grow. Located directly next to the 18th Avenue D train station and steps from the B1, B8, and B64 bus lines, this property benefits from constant foot traffic and excellent visibility, making it an ideal location for any business. The area around offers a vibrant mix of amenities that make it ideal for both business and daily convenience. Several major banks are within a short distance, providing easy access to financial services. CVS, Walgreens, Keyfood, and Jmart are popular nearby stores. There won't be any shortage of restaurant options nearby, being steps away from the 18th Avenue and 86th Street shopping district. This mix of amenities, along with excellent foot traffic for business, makes the location highly convenient for all.