Marcus & Millichap 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 bustling Canarsie neighborhood, spans over 26,000 square feet and is fully occupied by five ground-floor tenants and A+ Kidz Academy on its second floor.
The retail center boasts prominent anchor tenants such as 7-Eleven and Clean Rite, along with convenient parking options with space for up to 15 vehicles. Its prime location near popular retailers like KFC, IHOP, and CVS as well as the Brookline Houses apartment complex makes it a highly desirable investment opportunity.
Additionally, this property benefits from a coveted ICAP Tax Abatement that will last for the next fifteen years. Representing both parties in this transaction were Scott Plasky and Alexander Arustamian from Marcus & Millichap’s esteemed Manhattan office.
This recent sale serves as further evidence of Connect CRE’s expertise in facilitating successful real estate deals within Brooklyn’s thriving market.
