10504 Flatland Avenue, Brooklyn, New York 11236

Property Description

Flatlands Prime corner Plaza | High-Performing 6-Unit Retail Investment Opportunity! 10504 Flatlands Avenue fully leased, two-story corner retail asset totaling 7,074 SF across six commercial units. Built in 2014, the property is situated on a 5,400 SF lot along Flatlands Avenue, offering strong frontage, visibility, and on-site parking for 20+ vehicles. The tenant mix is anchored by 7-Eleven and includes a full-floor Kids Academy, hair salon, medical supply store, and additional service and office users, providing stable in-place income. The property generates an approximate NOI of $932,249.00 at a 5.48 % cap rate. The site is currently improved to 7,074 SF with a maximum buildable area of approximately 10,800 SF, allowing for 3,726 SF of additional development potential. Real estate taxes are reduced with an ICAP tax abatement in place through 2030. Zoned R5D/C2-3. Location & Accessibility: Strategically positioned in the growing Canarsie corridor, the property benefits from excellent accessibility, including proximity to the L train and strong walkability. Surrounded by residential density, schools, and neighborhood amenities, this location supports long-term tenant stability and continued demand. Ideal for investors seeking a stabilized asset with immediate cash flow and long-term development upside in one of Brooklyn’s evolving submarkets.