987 Lafayette AveBrooklyn, NY 11221

  • Mixed-use properties
  • 4,400 SF
For Lease

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
Mixed-use properties
Property subtype
Other investment properties
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $727,451
    6.5%
    $671,494
    7%
    $623,530
  • Comparable approach

    Method
    Valuation
    Relative Method
    $574,904
    Geo Method
    $574,904
  • Alternative Use

    Use
    Valuation
    Residential
    $832,652
    Hospitality
    $762,705
    Educational
    $634,562
    Medical
    $656,385
    Retail
    $987,096
987 Lafayette Ave, Brooklyn, New York

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$4,663
$21,120
$117,960
$139,080
-
$352,000
$1,966,000
$2,318,000

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