1634 Nostrand AveBrooklyn, NY 11226

This exceptional mixed-use property in Brooklyn's Flatbush neighborhood presents a compelling value-add investment opportunity. Located at 1634 Nostrand Ave., this three-story, 4,160 square foot building boasts a prime storefront location, offering unparalleled accessibility and visibility, steps from the 2 and 5 subway lines. The property features three units: two renovated apartments (each with four bedrooms and two bathrooms) and a vacant commercial space with a full basement and spacious backyard, ideal for a variety of businesses, including food and beverage establishments. The building sits on a 2,000 square foot lot and includes 1,280 square feet of air rights. Currently operating at 66% occupancy, the property generates a Net Operating Income (NOI) of $88,998, resulting in a 6.59% cap rate. The asking price is $1,350,000 ($324.52 per square foot). The property is zoned R6, C2-3, and benefits from a Class C designation and individual utility billing for each apartment, minimizing owner expenses and maximizing profitability. This free-market building is classified under tax class 1, ensuring predictable and low tax increases. This investment offers significant potential for future growth and substantial returns.