A retail building at 10309 Glenwood Road, located between 103rd and 104th Streets in Brooklyn’s Canarsie neighborhood, was sold in an all-cash transaction valued at $2,650,000.
The single-story concrete block building contains approximately 7,560 square feet and sits on a 140’ x 90’ lot. It consists of six units, all net-leased with long-term tenants. The sale price equates to approximately $351 per square foot.
“This retail property contains six retail tenants and is anchored by Fine Fare Supermarket, who recently signed a 10-year lease allowing them to occupy the space through 2023. It was purchased at a 7.5% capitalization rate,” said Massey Knakal’s Edward Gevinski, who exclusively handled this transaction.
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Neighborhoods: Canarsie