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Listing Courtesy of Compass
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Est. payment | /mo
14,700 SqFt
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Est. payment | /mo
14,700 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 14,700 sqft
Subdivision East Flatbush
MLS Listing ID RLS20076278
HOA Fees $4,837/mo
HOA Y/N Yes
Year Built 1931
Annual Tax Amount $89,292
Property Sub-Type Mixed Use
Property Description
Set within one of Flatbush's established commercial areas, 5203–5207 Church Avenue, an approximately 15,000 SF (~10,000 SF above grade) commercial property situated along one of Flatbush's predominant retail corridors. The property can be delivered vacant, offering a compelling opportunity for an end-user or for repositioning or redevelopment by an investor.
The building is currently configured with retail and medical tenants and features 10'+ ceiling heights and elevator access throughout, allowing for a highly usable and customizable layout. Notably, a credit-worthy second-floor tenant is paying approximately $13,500 per month, enabling an owner-user to occupy the remaining space while offsetting carrying costs, or allowing an investor to retain that income while repositioning the balance of the building with market-rate tenants.
From a development perspective, the property is located within a Qualifying Residential Site (QRS), which allows for a mixed-use FAR of up to 2.5, translating to approximately 14,000 buildable square feet. This provides meaningful long-term optionality while maintaining current income in the interim.
The building is currently configured with retail and medical tenants and features 10'+ ceiling heights and elevator access throughout, allowing for a highly usable and customizable layout. Notably, a credit-worthy second-floor tenant is paying approximately $13,500 per month, enabling an owner-user to occupy the remaining space while offsetting carrying costs, or allowing an investor to retain that income while repositioning the balance of the building with market-rate tenants.
From a development perspective, the property is located within a Qualifying Residential Site (QRS), which allows for a mixed-use FAR of up to 2.5, translating to approximately 14,000 buildable square feet. This provides meaningful long-term optionality while maintaining current income in the interim.
Location
State NY
County Kings
Interior
Furnishings Unfurnished
Fireplace No
Laundry See Remarks
Exterior
View Y/N No
Private Pool No
Building
Dwelling Type Mixed Use
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Ownership None
Monthly Total Fees $12, 278
Pets Allowed Building No, No
RLS Data display by Real Estate Professionals
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Bill Bone
Broker Associate | Lic# 10301210607