1637 Sheepshead Bay Road Active Save Request In-Person Tour Request Virtual Tour
Brooklyn,NY 11235
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 13,149 sqft
Price per Sqft $570
Subdivision Sheepshead Bay
MLS Listing ID RLS11024020
Style Prewar,Walk-Up
Bedrooms 7
Full Baths 4
HOA Y/N No
Year Built 1927
Annual Tax Amount $88,589
Property Description
Premier Mixed-Use Investment Opportunity in Sheepshead Bay
Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn's most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike.
Property Details:
• Lot Size: 50 ft x 177 ft | Zoning: C4-2
• Building Size: 13,149 SF
• Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica's Bridal, can be delivered vacant)
• Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment)
• Offering Price: $7,495,000
Highlights:
• Development Opportunity: With additional FAR available, bring your architect to explore redevelopment options and unlock the full potential of this property.
• Prime Commercial Space: The ground floor, currently home to the renowned Monica's Bridal, is ideal for a new commercial tenant or a complete reimagining of the space.
• Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, CVS, and Stop & Shop.
Neighborhood Features:
• High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes.
• Close proximity to shopping, dining, and amenities in a thriving Brooklyn community.
Financial Overview:
• Total Annual Income (Apartments + prospective NNN Lease): $560,550
• Annual Operating Expenses:
• Insurance: $13,000
• Water: $1,500
• Sprinkler/Fire Alarm: $2,000
• Real Estate Taxes: $88,589
• Total Expenses: $105,089
• Net Operating Income (NOI): $445,461
CAP Rate: 6%
Whether you're looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment.
Contact us today to explore this unique opportunity!
Location
State NY
County Kings
Interior
Equipment Intercom
Fireplace No
Laundry See Remarks
Exterior
Private Pool No
Building
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $7,382
Pets Allowed Building Yes,Yes