Price Reduced 11.89%
Listing courtesy of Compass
Price History
$6,100,000
8/12/2024
$5,375,000
10/4/2024
397 5th Avenue, Brooklyn, (Park Slope), NY, 11215
16 rooms
1899
**Prime Park Slope Investment Opportunity: 397 5th Avenue, Brooklyn** Discover a meticulously maintained, three-story mixed-use building in the bustling retail corridor of 5th Avenue in Park Slope, Brooklyn. This property represents a rare investment opportunity in one of Brooklyn's most desirable neighborhoods. Situated on a high foot traffic section of 5th Avenue, the building enjoys maximum visibility and accessibility. It is currently fully occupied, featuring a diverse tenant mix. The residential component includes four well-appointed 2-bedroom rental units, each with desirable front and back layouts. The retail space is leased to the popular Flatiron Steakhouse - Park Slope, ensuring a steady stream of rental income. Based on actual and projected rent rolls, this property easily yields a 5.2% cap rate, reflecting a strong return on investment, already demonstrating a robust and reliable rent roll. This makes it an attractive option for investors seeking both stability and growth. In excellent, turnkey condition, the building requires no immediate renovations or repairs, allowing for a seamless transition and continued revenue generation. This exceptional property combines a prime location, stable income, and well-maintained infrastructure, making it a valuable addition to any real estate portfolio. Don’t miss this opportunity to invest in a thriving area with a solid track record of demand and profitability.
Status:
Active
Town:
Brooklyn
Type:
Commercial
Laundry Remarks:
SeeRemarks
Zoning:
R6A
Building Type:
Townhouse
Cooling:
Central
Levels:
3
Building Access:
Walk-up
Service Level:
Voice Intercom
Built Size:
20'x55'
OLR #:
COMP1651609433768137
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