Franklin Avenue

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  • 708 Franklin Ave Brooklyn New York 11238 United States
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1REC's Take
Pros

✔ Vibrant cultural scene ✔ Diverse dining options ✔ Proximity to public transport

Cons

✘ High cost of living ✘ Traffic congestion ✘ Limited parking

Shopper Profile

✦ Diverse Shoppers: Local residents and visitors ✦ Preferences: Trendy dining, boutique shopping, local services

About Location
Franklin Avenue serves as a commercial and cultural hub in Crown Heights, featuring a mix of trendy boutiques, cafes, and bars, along with more established local businesses. The area has been experiencing gentrification, and rental prices have been rising but are generally moderate to high.
Trade Area Summary

Basic Demographics

Median Household Income: $68,345
Consumer Expenditure: $22,487,616,287
Population: 739,006
Daytime Population: 441,575
Source Notes: Data reflects 20 minute drive times as of Q3 2023 (Experian) and is provided by Dallimore & Co, a boutique advisory firm specializing in growth strategy, real estate solutions, and M&A for specialty retail and consumer brands.

Household Segment Breakdown

Segment #1: G – Educated Urbanites (54%)
Segment #2: I – Young Urban Singles (36%)
Segment #3: Q – City Hopefuls (7%)
All Other Segments: 2%

Source Notes: Segment data reflects 0.25mi radius and is provided by Spatial.ai, an AI-Powered segmentation platform for retail marketers.

Occupancy
Tenant Sales per Square Foot: $700
Occupancy Rate: 88%
Anchor Tenants: Franklin Avenue Shopping District, Various small businesses
Tenant Rent/Sales Ratio (%): 7.14% – 21.43%
Rent $ / Visitor: $14.29
Source Notes: Data sourced from public and private records.
Know Before You Go
Preferred ISP(s)
Spectrum, Verizon
Estimated Permit Timeline (weeks)
6-8
Landmarks Risk
Medium
Union Labor Disharmony Likelihood
Medium
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      MSA: New York-Newark-Jersey City NY-NJ-PA
      Address: 708 Franklin Ave
      Brooklyn
      New York
      11238
      United States
      Place Tags: Street
      Retail Type: Streets & Neighborhoods

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