Marcus & Millichap, a leading commercial real estate firm, recently announced the successful sale of a retail center in Brooklyn for $11.7 million. The property, located at 10504-10524 Flatlands Ave in the desirable Canarsie neighborhood, spans over 26,000 square feet and boasts two stories.
The fully occupied retail center is home to five ground-floor tenants and features a fully leased second story measuring 12,000 square feet that is currently occupied by A+ Kidz Academy. Notable anchor tenants include popular brands like 7-Eleven and Clean Rite. Additionally,the property offers ample parking with its fifteen designated spaces.
Conveniently situated near major retailers such as KFC,IHOP,and CVS,the retail center also benefits from its close proximity to the Brookline Houses apartment complex.Additionally,it enjoys significant tax savings through its15-year ICAP Tax Abatement program.
Representing the seller were Scott Plasky and Alexander Arustamian from Marcus & Millichap’s Manhattan office whilethe buyer was identified asa private investor.This recent transaction highlights Connect CRE’s expertise in facilitating successful deals within New York City’s competitive real estate market.
