Contacts
Stephen Vorvolakos
Ariel Property Advisors
(212) 544-9500 x 25
Sean R. Kelly
Ariel Property Advisors
(212) 544-9500 x 59
Jiani Zhou
Ariel Property Advisors
(212) 544-9500 x 72
Oliver Elihu
Ariel Property Advisors
(212) 544-9500 x 21
Property Details
- Property Type Multi-Family
- Property Size 7,681 SF
- Date Updated Aug 21, 2020
Ariel Property Advisors has been retained on an exclusive basis to arrange for the sale of 5723 5th Avenue, a fully renovated 3-story mixed-use building located on the NE corner of 5th Avenue and 58th Street in Sunset Park. The subject property totals 7,681 square feet and consists of 2 commercial units and 8 one-bedroom residential units, all of which are rent-stabilized. The corner pharmacy has a lease in place through 2022, with 4% annual escalations and a 5-year renewal option. The second commercial unit, which was formerly a doctors office, is currently vacant. The property also benefits from being in the protected 2B tax class, which caps the amount taxes can be increased annually.
5723 5th Avenue is located on a prime retail corridor, with nearby tenants such as Sprint, T-Mobile, GameStop, Subway, Papa Johns and Carvel. The property is conveniently 0.2 miles from the 59th Street N/R subway station, and is located directly on the B63 bus line that runs up and down 5th Avenue.
5723 5th Avenue represents an opportunity for an investor to acquire a fully renovated turn-key asset with strong cash flow on a busy retail thoroughfare in Sunset Park. Please contact our office for additional information.
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Getting around
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96/100
Walk Score ®
-
99/100
Transit Score ®
-
84/100
Bike Score ®
Location
- City Brooklyn, NY
- Neighborhood Sunset Park
- Zip Code 11220
- Market Brooklyn
Points of Interest
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Prince Car Service
0.17 miles
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59th Street
0.18 miles
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53rd Street
0.31 miles
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Bell Car Service
0.37 miles
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8th Avenue
0.41 miles
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Bay Ridge Avenue
0.61 miles
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45th Street
0.63 miles
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Explorer Car Service
0.66 miles
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Sunset Park Car Service
0.66 miles
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Fort Hamilton Parkway
0.80 miles
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Sunoco
0.25 miles
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7-Eleven
0.44 miles
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Emporium 1
0.45 miles
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SEVENTH AVENUE
0.46 miles
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BP
0.59 miles
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BP
0.88 miles
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BP
0.89 miles
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Shell
1.06 miles
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Sunoco
1.27 miles
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Speedway
1.36 miles
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Hospital Parking
0.53 miles
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IKEA
2.19 miles
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School Bus Depot
2.25 miles
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Ultra Car Park Systems
2.40 miles
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Car Park Systems
2.46 miles
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Eastern Fruits and Vegetables
2.70 miles
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US Postal Service
2.77 miles
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Brooklyn Cruise Terminal Parking
2.78 miles
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Garfield Garage
2.97 miles
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Lighhouse Museum Parking
3.09 miles
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Insignia Hotel, Ascend Hotel Collection
0.39 miles
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Quality Inn
0.74 miles
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The Vue Hotel Express
0.92 miles
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casa Eddie
0.93 miles
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King Hotel
0.94 miles
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Phoenix Hotel
0.94 miles
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Wyndham Garden
0.94 miles
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Days Inn
0.95 miles
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Comfort Inn
1.02 miles
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Knights Inn
1.02 miles
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Met Foodmart
0.03 miles
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Bravo
0.18 miles
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Xin Hao NY Supermarket
0.34 miles
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New York Mart (formerly Hong Kong Supermarket)
0.46 miles
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Lucky Star Market Inc.
0.47 miles
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Sunrise Supermarket Inc.
0.48 miles
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Forum Supermarket
0.48 miles
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Fei Long Supermarket/Minimall
0.54 miles
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E & S Grocery Store
0.65 miles
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KeyFood
0.70 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
