446 Bay Ridge PkwyBrooklyn, NY 11209

Property Details for 446 Bay Ridge Pkwy

Year built

1910

Lot size

0.05 AC

Property size (Sq ft)

2,480 SF

Zone code

R5B

Property type

Investment properties

Property subtype

Live-work space

APN

05941-0025

APU

59410025

Description

This exceptional three-story, 2,000 square foot mixed-use building at 446 Bay Ridge Parkway in Brooklyn, NY (zip code 11209) presents a compelling investment opportunity. Originally constructed in 1909 as a residential townhouse, the property is currently configured as a three-unit commercial building situated on historic Doctor's Row in the highly desirable Bay Ridge neighborhood. The building boasts two occupied medical offices: a ground floor podiatrist's office featuring a waiting room, reception area, three exam rooms, lab space, doctor's office, and storage; and a second-floor chiropractic office with a reception and treatment area (potentially divisible into separate rooms) and two additional offices. A vacant, turnkey two-bedroom residential unit occupies the third floor, complete with high ceilings, abundant natural light, and original inlaid wood floors. The vacant unit presents a significant upside potential, with renovations mirroring those in adjacent properties likely to yield substantial revenue increases. The property's location between 5th Avenue's retail corridor and the residential areas of 4th Avenue ensures a strong consumer base. This versatile asset offers immediate cash flow and significant long-term growth potential, making it ideal for investors seeking portfolio expansion or end-users aiming to transition from renters to landlords. The property's mixed-use nature also presents potential tax benefits for owner-occupants. Note that some images may be virtually staged.

• CAP approach

  CAP return

  Valuation

  6%

  $410,018

  6.5%

  $378,478

  7%

  $351,444

• Comparable approach

  Method

  Valuation

  Relative Method

  $324,037

  Geo Method

  $324,037

• Alternative Use

  Use

  Valuation

  Residential

  $469,313

  Hospitality

  $429,888

  Educational

  $357,662

  Medical

  $369,962

  Retail

  $556,363

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.63

Longitude

-74.024

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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