1630 E 15th Street (T.J. Maxx (A/A2 Credit) Anchored 226K SF Commercial Building)

1630 East 15th Street, Brooklyn, NY, 11229, US

Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to market 1630 East 15th Street (the “Property”), a block-through asset between Kings Highway and Avenue P in the heart of Midwood, Brooklyn. Anchored by investment-grade T.J. Maxx (TJX Companies, “A”/”A2” ratings) through 2030 with extensions, this 226,130 SF mixed-use building sits 300 feet from Kings Highway subway station (20 minutes to Downtown Brooklyn, 35 minutes to Midtown Manhattan). The property features 129,028 SF commercial space across three floors (22.5’/18’ ceilings), 97,102 SF parking generating $40,000 monthly income, plus Elder Serve Health through 2029 with extensions occupying 14,511 SF. With significant vacancy, large flexible floor plates, strong anchors, and prime transit access, the property offers clear value-add potential targeting $3.4 million stabilized NOI through strategic leasing and operational enhancements.

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Attributes

Building area gross

21,008 sm

Land area gross

4,459 sm

Parking spaces

257

Parking Size

97,102 sf

Media

Investment highlights

IMMEDIATE REPOSITIONING OPPORTUNITY

Exceptional repositioning opportunity with 83,881 SF of vacant space in a prime location. The Property features 16,838 SF of vacant ground floor space perfectly positioned for a prime retailer, while the remaining square footage across the second and third floors provides a blank canvas ideal for national retailers, local businesses, or subdivided smaller tenants.

ANCHORED BY TOP TIER CREDIT

Anchored by T.J. Maxx, the Property benefits from one of the strongest credit profiles in all of retail—supported by parent company TJX’s “A” rating from S&P (affirmed March 21, 2025) and “A2” rating from Moody’s (affirmed June 3, 2025). This investment-grade strength, combined with the consistent customer traffic driven by T.J. Maxx’s 26,644 SF footprint, meaningfully elevates the visibility and appeal of the 16,838 SF of available ground-floor retail space.

OPERATIONAL PARKING

The parking facility at 1630 E 15th offers exceptional convenience and revenue generation across two levels, encompassing 97,102 square feet of cellar and subcellar space with 257 parking spots. Following recently completed structural improvements, this upgraded garage represents a turnkey parking solution that delivers consistent performance with minimal management oversight. The facility generates approximately $40,000 monthly in net income after all expenses and management fees through a balanced mix of 50% monthly permits and 50% transient parking.

UNPARALLELED CONNECTIVITY

The Property offers exceptional accessibility, located just a one-minute walk from the Kings Highway subway station. The B and Q trains provide direct service throughout Brooklyn and into Manhattan, with travel times of roughly 15 minutes to Downtown Brooklyn and 30 minutes to Midtown Manhattan. This seamless connectivity links the Property to major destinations such as Atlantic Terminal–Barclays Center, Times Square, and the Upper West Side.