987 Lafayette AveBrooklyn, NY 11221

Property Details for 987 Lafayette Ave

Year built

1899

Lot size

0.05 AC

Property size (Sq ft)

4,400 SF

Zone code

R6B

Property type

Investment properties

Property subtype

Live-work space

APN

01607-0065

APU

16070065

Description

This exceptional 1,200 square foot special purpose property, located at 987 Lafayette Avenue in the Bedford-Stuyvesant submarket of Brooklyn, Kings County, New York, presents a unique investment opportunity. Currently configured as a daycare center, the space is fully built-out and ready for immediate occupancy by a single tenant. Its convenient location offers easy access for families in the vibrant Bedford-Stuyvesant community. The property's single-tenant occupancy simplifies management and provides a stable income stream. A significant advantage is the presence of a playground directly across the street, providing a safe and convenient outdoor play area for children. The property's history as a daycare center further enhances its suitability for continued use in this capacity, minimizing the need for extensive renovations or alterations. The address is 987 Lafayette Avenue, Brooklyn, NY 11221. This property is situated in a thriving neighborhood, offering a strong potential for continued success and profitability. The property type is listed as Special Purpose, with a Subtype of Daycare. The property is located in Kings County, New York. This turnkey solution offers a rare opportunity to acquire a fully operational daycare center in a desirable Brooklyn location.

• CAP approach

  CAP return

  Valuation

  6%

  $829,372

  6.5%

  $765,574

  7%

  $710,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $586,402

  Geo Method

  $586,402

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,498,290

  Retail / Commercial

  $768,313

  Hospitality / Lodging

  $561,677

  Office

  $761,026

  Institutional / Educational

  $795,889

  Residential Income

  $931,190

  Multifamily

  $1,116,820

  Automotive / Energy

  $682,190

  Parking / Income-Based Land

  $235,416

  Restaurant / Food Service

  $398,181

  Healthcare / Senior Housing

  $785,082

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6923

Longitude

-73.9326

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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