383-385 Ocean PkwyBrooklyn, NY 11218

Property Details for 383-385 Ocean Pkwy

Property size (Sq ft)

8,640 SF

Property type

Retail properties

Description

This exceptional mixed-use property at 383-385 Ocean Parkway in Brooklyn, New York, presents a compelling investment opportunity. Currently configured as two three-family homes, the property generates stable cash flow from six residential units, all with leases expiring in December 2024. Situated on a 6,000 square foot lot, the property boasts a substantial buildable square footage of 24,000 square feet as-of-right, per the R7A/OP zoning designation. This allows for significant future development potential. The property's prime location in Kensington, between Avenue C and Cortelyou Road on Ocean Parkway, offers unparalleled convenience. It's surrounded by a wealth of amenities, including an abundance of private and public schools, medical facilities, and a diverse array of retail businesses such as restaurants, bars, coffee shops, and banks. Residents enjoy easy access to Prospect Park and the Kings Theatre, both within a mile radius. Commuting is a breeze with the F train readily accessible at both Ditmas and Church Avenue stations, and the Q train at Beverly Road station, all within walking distance. The asking price for this remarkable property is $4,750,000. The existing structure encompasses a total of 8,640 to 24,000 square feet. This presents a rare chance to acquire a high-yield investment in a thriving Brooklyn neighborhood with significant upside potential.

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6396

Longitude

-73.9727

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