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Listing Courtesy of Crifasi Realty Associates Inc
$ 1,950,000
Est. payment | /mo
5 Beds
3 Baths
$ 1,950,000
Est. payment | /mo
5 Beds
3 Baths
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Gravesend
MLS Listing ID RLS20025539
Bedrooms 5
Full Baths 3
HOA Y/N Yes
Year Built 1900
Annual Tax Amount $29,328
Property Sub-Type Mixed Use
Property Description
This fully occupied, well-maintained brick mixed-use building in the heart of vibrant Gravesend, Brooklyn, offers an exceptional investment opportunity. Spanning approximately 3,900 square feet across two floors on a 25ft x 100ft lot, this 1931-built property (zoned R5B) features four retail units on the ground floor, including a deli with basement access, and two spacious residential apartments on the second floor (one 3-bedroom, one 2-bedroom, each approximately 975 sq ft). The building generates strong income with a current gross annual income of $131,760 and a projected gross of $149,760 after recommended rent adjustments, yielding a current NOI of $85,542 and a projected NOI of $92,977.18 (based on expenses of $56,782.82, including taxes, utilities, and insurance). Its robust brick construction ensures low maintenance, making it a turnkey asset for investors. Ideally situated near the Avenue U subway station (N and W lines, rated 4.0 with 37 reviews), the property offers excellent accessibility to Manhattan and beyond. Gravesends charm shines through with proximity to iconic destinations like L&B Spumoni Gardens, renowned for its square Sicilian pizza and spumoni, as well as Coney Islands famous boardwalk, amusement parks, and the New York Aquarium, all just a short distance away. This property combines steady cash flow, growth potential, and a prime location in a sought-after Brooklyn neighborhood.
Location
State NY
County Kings
Interior
Heating None
Furnishings Unfurnished
Fireplace No
Laundry Building None, None
Exterior
View Y/N No
Private Pool No
Building
Dwelling Type Mixed Use
New Construction No
Others
Ownership None
Monthly Total Fees $2, 444
Pets Allowed Building No, No
RLS Data display by WJFNY