39 Putnam Ave Brooklyn, NY 11238

This exceptional mixed-use investment property, located at 39-41 Putnam Avenue in Brooklyn's vibrant Clinton Hill neighborhood, presents a compelling value-add opportunity. The property comprises two buildings totaling 8,609 square feet on a 3,280 square foot lot, zoned R6B. The portfolio includes seven units: two retail spaces and five apartments, currently operating at 71% occupancy. The asking price is $5,600,000, representing a price per square foot of $650.48 and a pro-forma cap rate of 7.10%. The buildings boast a prime corner location, offering high visibility for the retail spaces and ample natural light for the apartments. One building features a rare amenity in NYC: a garage. The apartments are a mix of duplexes and single units, offering modern finishes and ample living space. The property benefits from its proximity to major subway lines and is situated in a rapidly developing area with significant new construction. Combined annual property taxes are $37,786, classified as 2A. This is a 100% free-market opportunity with significant untapped potential for increased revenue and value appreciation. The property's strong location, combined with its value-add potential, makes it an attractive investment for discerning buyers seeking exposure to Brooklyn's thriving real estate market. The current vacancy rate presents an immediate opportunity to increase income. This is a rare chance to acquire a well-positioned mixed-use property in a highly sought-after Brooklyn neighborhood.