1610 Dekalb AveBrooklyn, NY 11237

Property Details for 1610 Dekalb Ave

Property size (Sq ft)

16,407 SF

Zone code

R6

Property type

Office properties

APN

03248-1001

APU

32481001

Description

This exceptional three-story, 16,982 square foot office condominium unit at 1610 Dekalb Avenue in Brooklyn, New York, presents a compelling investment opportunity. Currently operating as an outpatient medical clinic leased to Wyckoff Heights Medical Center, a prominent 350-bed teaching hospital located nearby, this property offers strong, stable income. The lease, expiring at the end of 2028 with a five-year extension option, includes an 8% annual rent increase scheduled for 2025. All three floors are utilized for medical examination rooms and offices. A significant added value is the inclusion of title to seven rooftop terraces situated above residential units. The asking price is $5,650,000, translating to a desirable $333 per square foot. The property's convenient location, half a block from the Dekalb Street L train station, enhances its appeal. Permitted uses are diverse and include educational, cultural, healthcare, medical, arts, non-profit, daycare, childcare, and religious organizations, offering flexibility for future tenants. This Kings County property (zip code 11237) is situated between Wyckoff Avenue and Irving Avenue, ensuring excellent visibility and accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $3,220,669

  6.5%

  $2,972,925

  7%

  $2,760,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,143,738

  Geo Method

  $2,143,738

• Alternative Use

  Use

  Valuation

  Residential

  $3,686,427

  Hospitality

  $3,376,748

  Educational

  $2,809,414

  Medical

  $2,906,034

  Retail

  $4,370,200

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.7038

Longitude

-73.9194

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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