228 55Th StBrooklyn, NY 11220

Property Details for 228 55Th St

Year built

2021

Lot size

0.10 AC

Property size (Sq ft)

15,317 SF

Zone code

R6B

Property type

Retail residential properties

APN

00829-0016

APU

8290016

Description

This exceptional investment opportunity presents a single parking space located at 228 55th Street, P6, in the vibrant Brooklyn, New York neighborhood (zip code 11220). The space, measuring 198 square feet, is situated on a sizable 4,157 square foot lot and is classified as a special purpose commercial property. Ideal for individual use or as a lucrative rental investment, this parking space offers a straightforward and potentially high-return investment. The property is conveniently located in Kings County (Brooklyn), New York, offering easy access to local businesses and transportation. The asking price is $60,000. Note that there is a monthly common charge of $43.21 associated with the property. The ceiling height is noted as "Other," and further details on this specification would need to be obtained directly. This is a unique opportunity to acquire a valuable asset in a high-demand area. Serious inquiries are encouraged to explore this promising investment prospect further. The property is categorized as Commercial, Garage/Parking, and Other. This single-unit property offers a simple and potentially profitable investment opportunity in a thriving Brooklyn location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,140,124

  6.5%

  $2,898,576

  7%

  $2,691,534

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,102,045

  Geo Method

  $3,102,045

• Alternative Use

  Use

  Valuation

  Residential

  $2,898,576

  Hospitality

  $2,655,080

  Educational

  $2,208,995

  Medical

  $2,284,966

  Retail

  $3,436,214

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6456

Longitude

-74.0192

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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