1397 Flatbush Avenue, Brooklyn, NY, USA

Flatbush, Brooklyn

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Asking Price

$1,225,000

Building Size

2,280 GSF

Zoning

R7A / C2-4

Lot Size

660 SF

Development Rights (Per IH FAR)

3,036 ZFA

Gross Annual Revenue

$103,740

Comprises a single tax lot improved by a three story 2,280 GSF masonry mixed-use building
Ground floor retail space is leased to a Hair Salon until April 2035
Both upper freemarket apartments offer 2BR layouts and are leased for $2,842/mo and $2,500/mo
Currently generates over $103K gross annually and carries a favorable Tax Class 1, limiting future tax increases
Property is zoned R7A with a commercial overlay, offering additional air rights that may be used to add a floor in the future
On one of Brooklyn’s busiest retail corridors and within 4 blocks of Brooklyn College and dozens of stores, restaurants and other conveniences nearby
Situated between two train stations, Newkirk Av 2, 5 Station and Newkirk Plaza B, Q Station, providing convenient connectivity across Brooklyn and to other boroughs
Renovated turn-key investment asset on a busy corridor with high pedestrian foot traffic in a rapidly evolving market