7623 3Rd Ave Brooklyn, NY 11209

This exceptional mixed-use property, located at 7623 3rd Ave in Brooklyn, NY (zip code 11209), presents a compelling investment opportunity. The building, constructed in 1929, boasts a prime 3rd Avenue corner location at 77th Street, offering high visibility and excellent foot traffic. The 5,000 square foot building sits on a 2,500 square foot lot and is zoned R6-B. It comprises three commercial units and four residential units, each a one-bedroom, one-bathroom apartment. Currently operating at 100% occupancy, the property generates a gross annual income of $188,076 and a net operating income (NOI) of $137,323, representing a 4.70% cap rate. The asking price is $2,890,000, translating to $578 per square foot. Recent upgrades have been made to both the building and the apartments. The property's convenient location offers easy access to local amenities, including numerous stores, restaurants, and bakeries. Public transportation is readily available, with the 4 train just one block away. This is a rare opportunity to acquire a well-maintained, high-income-producing mixed-use property in a thriving Brooklyn neighborhood.