A unique and rare opportunity to purchase a mixed use commercial property in the heart of Prime Bushwick. Perfect for 1031 buyers with an approximate 5.6% cap rate or an end user who is looking for a live/work property. Located on the most in demand block in Bushwick off the Jefferson L train station, Troutman Street offers an incredible amount of foot traffic due to it's nightlife, restaurants and bars, and a consistent flow of street art tours attended by hundreds of international tourists on a daily basis. On this block alone, the businesses that add color to the neighborhood include The Johnsons, KCBC Brewery, Theatre XIV, Tipsy Dogs, Artichoke Pizza, Sea Wolf, and Lot 45. A newly opened glass front retail strip on the corner of Troutman Street and Irving Avenue currently house a soon to open coffee shop, Nook and an art gallery Dor Dor. Around the block are House Of Yes, Bushwick Beer Garden, Queen, Turk's Inn, Starr Bar, Guacuco, and so many more great local hot spots. Yet another warehouse converted into glass front retail space has just been completed a block away on the corner of Wyckoff Avenue and Flushing Avenue. The Jefferson L stop already a destination, is getting ready to welcome in even more local business making this comparable to the Bedford Avenue L subway stop in Williamsburg. The property sits on a 25 by 100 ft lot with 2 buildings on premises. Facing the street is an approximately 1200 square foot warehouse with a curb cut, approximately 12 ft. high ceilings and a small 300 square foot office above. The warehouse can very easily be converted into a glass front retail space, deli, record store, or cozy wine bar. Behind the warehouse is a 2 story 2 family residence currently subdivided into 4 1 bedroom units. 1 bedroom units in this immediate neighborhood are in high demand as much of the inventory is relegated to 2 bed railroad style apartments, lofts, and standard 2-3 bedroom units. Glass front retail spaces are commanding upwards of $60-$80/ft in the immediate area and 1 beds on average $2000/month. Contact Stephanie Turk for setup.
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