For Sale
$3,495,000

1435 64Th StBrooklyn, NY 11219

High-Yield Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional mixed-use property, located at 1435 64th Street in Brooklyn, NY (zip code 11219), presents a compelling investment opportunity. The 6,540 square foot building, constructed in 1920 and extensively renovated in 2022, boasts a Class A designation and features a blend of retail, office, and multifamily spaces. Currently operating at 100% occupancy with five tenants, the property generates a substantial net operating income (NOI) of $207,000, translating to an attractive 5.92% cap rate. The building comprises three stories and sits on a desirable corner lot, benefiting from high foot traffic and proximity to public transportation, including the D subway line. The property is zoned M1-1 and features separate utility meters and hot water tanks for each unit. Leases are structured with a 3% rent bump at renewal, ensuring consistent income growth. The asking price is $3,495,000. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use asset in a thriving Brooklyn neighborhood. The sale includes the ground floor retail storefront/office duplex, which will be delivered vacant upon closing. The remaining units are occupied by top-paying tenants. This property is ideal for owner-users or investors seeking a strong return on investment.

Highlights

  • $3,495,000 asking price for this mixed-use property in Brooklyn, NY.
  • 6,540 square feet, with 5,950 square feet of net rentable space.
  • 5.92% cap rate, generating a $207,000 NOI.
  • 100% occupancy with five tenants, including a ground floor retail storefront/office duplex that will be delivered vacant.
  • Located at 1435 64th St, Brooklyn, NY 11219, a corner lot with high foot traffic near public transportation.
  • Three-story building, built in 1920 and renovated in 2022, offering a mix of convenience store, executive office, and storefront spaces.

Property Details for 1435 64Th St

Property type
Retail properties, Office properties
Square Feet
6,540 SF
Class
A
Year Built/Renovated
1920/2022
Buildings
1
Stories
3

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.624584380973
Longitude
-73.997569813802
1435 64Th St, Brooklyn, New York

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1435 64Th St
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