This exceptional mixed-use property at 1092 Nostrand Avenue in Brooklyn, NY, presents a compelling investment opportunity. The fully occupied, turnkey building boasts 6,450 gross square feet, including 5,800 net rentable square feet, spread across three stories and a finished basement. The building features eight units: six free-market apartments (four 4-bedroom, 1.5-bathroom units and two 2-bedroom, 1.5-bathroom duplex units) and two commercial storefronts. All units are currently leased, generating a strong net operating income (NOI) of $240,658, with a pro-forma NOI of $278,221. The property features a 7.70% cap rate and a pro-forma cap rate of 8.90%. Built in 1931 and extensively renovated in 2017, this Class A building offers modern amenities including central air conditioning, a shared washer/dryer, and a bike room. The 2,667 square foot lot is zoned R6, C2-3, and includes approximately 2,486 square feet of additional buildable air rights. Located in the desirable Prospect-Lefferts Gardens neighborhood, the property benefits from its proximity to public transportation (B, Q, 2, 5, and S train lines), Prospect Park, Brooklyn Botanic Garden, and various dining and educational institutions. The leases have a remaining term of 0.6 years, expiring June 30, 2025. This is a rare opportunity to acquire a high-performing, cash-flowing asset with significant upside potential. The asking price is $3,125,000, or $390,625 per unit, and $484.50 per square foot.
Highlights
Turnkey, fully renovated mixed-use building in Prospect-Lefferts Gardens, Brooklyn, offered below replacement cost.
Fully occupied with six free-market residential units and two commercial units, generating a $240,658 NOI and a pro-forma NOI of $278,221.
Clean paperwork with order and determination letter available.
Professionally managed, renovated in 2017, featuring central AC, shared washer/dryer, and bike room.
6,450 gross square feet with approximately 2,486 square feet of additional buildable air rights.
Significant rental upside potential in both residential and commercial spaces.
Property Details
for 1092 Nostrand Ave
Property type
Retail properties, Mixed-use properties
Square Feet
6,450 SF
Class
A
Year Built/Renovated
1931/2017
Buildings
1
Stories
3
Units
8
Location Insight
City
Brooklyn
County
Kings
State
New York
Latitude
40.6612069
Longitude
-73.9510677
1092 Nostrand Ave, Brooklyn, New York
Nearby Similar for Sale
For Sale
$3,000,000
West End Ave Mixed-Use Property
Prime Brooklyn redevelopment opportunity. Four units, 5,088 sq ft.
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Contacts
Matthew Peters
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1092 Nostrand Ave, Brooklyn, New York, 11225
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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1092 Nostrand Ave
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