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$ 1,875,000
Est. payment | /mo
2,500 Sqft Lot
$ 1,875,000
Est. payment | /mo
2,500 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 858279
Rental Info No
Year Built 1931
Annual Tax Amount $29,332
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Mixed Use
Source onekey2
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. Gravesend's 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 Island's 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 (brooklyn)
Rooms
Basement Bilco Door(s), Finished, Full, Storage Space
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Connected, Underground Utilities, Water Available, Water Connected
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by Crifasi Real Estate Inc • Sal J. Crifasi