Myrtle Shoppe Leases Retail Space At 411 Myrtle Avenue In Clinton Hill, Brooklyn
411 Myrtle Avenue
$85
$85/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Aug 1, 2023
AI
A retail property located at 411 Myrtle Avenue in Clinton Hill, Brooklyn has been leased by Myrtle Shoppe. The property, spanning 1,200 square feet, is situated in a desirable location in the market. The lease was brokered by David Avgi and Michel Liv of Avenues Real Estate on behalf of the landlord, Justin Meshberg. The lease agreement is a double net lease with a term of 10 years. The asking rent for the property was $85 per square foot.
Summary of transaction details
- Property Type: Retail
- Address: 411 Myrtle Avenue, Clinton Hill, Brooklyn
- Tenant: Myrtle Shoppe
- Landlord: Justin Meshberg
- Brokers: David Avgi & Michel Liv
- Asking Rent: $85/ft
- Lease Type: Double Net Lease
- Lease Term: 10 years
David Avgi and Michel Liv, representing Avenues Real Estate, played a crucial role in brokering the lease deal for the retail property. Their expertise and negotiation skills ensured a successful transaction between the landlord, Justin Meshberg, and the tenant, Myrtle Shoppe.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93