0 Beds
2 Baths
$1,650,000
315 FLATBUSH Avenue 2, Brooklyn NY, 11217
Built in1889
Property typeCondominium
Overview
Active
Listed Jun 29, 2026
Updated 13 days ago
Finally, after over a decade of no commercial retail condo availability along Flatbush Avenue, opportunity knocks at 315 Flatbush Avenue.
Home to a UPS franchise for two decades, this 1774 square-foot condominium, over 1000 square feet on the ground floor with over 700 square feet of basement storage, is now on the sales market after 20 years.
Presently, leases along Flatbush Avenue have consistently broken through the $150 per square foot plateau. At that price, the ground floor would generate over $150,000 gross income.
The UPS store would like to stay for another 5 years, at least. Their lease allows them an option of an additional 5 years, which they want to exercise, but it does not mention specific terms. What does carryover is the tenant responsibility for any RE Taxes above the rate of 2004/2005. If they are resigned at the rate of Flavor Town, a deli across the street which signed a $143 ppsf lease in 2024, then the financial picture would look like this:
Gross Income: $143,000
RE Taxes: $4,667
CAM Charges Annually $12,384
Vacancy Allowance $0
Total Expenses $17,051
Net Income: $125,949
Cap Rate @ $1.65M 7.6%
Not bad for a neighborhood where commercial property changes hands at a 5% cap rate.
Home to a UPS franchise for two decades, this 1774 square-foot condominium, over 1000 square feet on the ground floor with over 700 square feet of basement storage, is now on the sales market after 20 years.
Presently, leases along Flatbush Avenue have consistently broken through the $150 per square foot plateau. At that price, the ground floor would generate over $150,000 gross income.
The UPS store would like to stay for another 5 years, at least. Their lease allows them an option of an additional 5 years, which they want to exercise, but it does not mention specific terms. What does carryover is the tenant responsibility for any RE Taxes above the rate of 2004/2005. If they are resigned at the rate of Flavor Town, a deli across the street which signed a $143 ppsf lease in 2024, then the financial picture would look like this:
Gross Income: $143,000
RE Taxes: $4,667
CAM Charges Annually $12,384
Vacancy Allowance $0
Total Expenses $17,051
Net Income: $125,949
Cap Rate @ $1.65M 7.6%
Not bad for a neighborhood where commercial property changes hands at a 5% cap rate.
$10,977/mo
Est. mortgage payment based on a $1,650,000 home price.
All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.
Additional information
- MLS® ID
- RLS20100599
Interior Features
- Bedrooms
- 0
- Bathrooms
- 2
- Basement
- No
Other Property Details
- Common Charges Frequency
- Monthly
Listing Courtesy of Corcoran Group - Dan P Brady
Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the “RLS”). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved
RLS Data display by Decode Real Estate. Data last updated on 9/24/2026 at 2:09 PM UTC
