257 3Rd AveBrooklyn, NY 11215

Property Details for 257 3Rd Ave

Year built

1931

Lot size

0.05 AC

Property size (Sq ft)

6,160 SF

Zone code

M14R6A

Property type

Investment properties

Property subtype

Live-work space

APN

00441-0005

APU

4410005

Description

This exceptional 600-square-foot retail space at 257A Third Avenue in Gowanus, Kings County, presents a unique opportunity for a discerning tenant. Previously occupied by a dog walking service, the property boasts a desirable location within a vibrant and rapidly developing neighborhood. The space itself features a private room, a dedicated bathroom, and access to a shared lower-level storage area. A significant advantage is the inclusion of a spacious rear yard, offering potential for outdoor use or expansion. Its prime Gowanus location places it just one block from the Union Street subway station, providing convenient access to public transportation. Furthermore, the property enjoys close proximity to popular attractions and amenities, including Barclays Center and Atlantic Terminal, ensuring high foot traffic and visibility. Nearby establishments include well-known businesses such as Dinosaur BBQ, Claro, Strong Rope Brewery, and The Royal Palms Shuffleboard Club, contributing to a thriving commercial environment. The landlord has a preference for tenants who do not use tobacco, smoke, or cannabis products within the premises. This property is ideal for a variety of retail uses and represents a compelling investment opportunity in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,018,432

  6.5%

  $940,091

  7%

  $872,942

• Comparable approach

  Method

  Valuation

  Relative Method

  $804,866

  Geo Method

  $804,866

• Alternative Use

  Use

  Valuation

  Residential

  $1,165,713

  Hospitality

  $1,067,787

  Educational

  $888,386

  Medical

  $918,939

  Retail

  $1,381,934

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.678

Longitude

-73.9854

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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