1092 Nostrand Ave Brooklyn, NY 11225

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.