5214 Church Avenue, Flatbush, Brooklyn

Bijou Equities is pleased to present the exclusive listing at 5214 Church Avenue, a 100% free-market mixed-use building on the Church Avenue retail corridor between East 52nd and East 53rd Streets.

The 5,280 SF, three-story building has five apartments (three 2BRs and two 3BRs) over a ground-floor deli. All five apartments will be delivered vacant, so a buyer can renovate, lease up at market, and set the rent roll from day one. None of the units are rent-stabilized.

The deli is leased through February 2031 at $4,000/month, with 4.875% annual increases.

At full lease-up, the property projects roughly $218,000 in gross income and $140,000 in NOI. That's an 8.4% cap rate on the asking price, at $317 per square foot. The B35 bus stops at the door.