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$ 2,950,000
Est. payment /mo
New
203 Avenue U Brooklyn, NY 11223
8,500 SqFt
UPDATED:
Key Details
Property Type Other Rentals
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $347
MLS Listing ID 502747
Year Built 1928
Annual Tax Amount $65,406
Property Sub-Type Mixed Use
Property Description
Prime Mixed-Use Investment Opportunity in the Heart of Gravesend!
Don't miss this exceptional mixed-use property located on bustling Avenue U in the heart of Gravesend, Brooklyn. This well-maintained building sits on a 20×100 lot with a full 20×100 building footprint and features 2 ground-floor commercial units plus 6 residential apartments.
The residential portion consists of 9 total bedrooms and 6 bathrooms. Two apartments are market-rate (unregulated), offering immediate rental flexibility, while the remaining four units are rent-stabilized, providing stable, reliable income with long-term upside potential.
One of the corner commercial spaces is currently vacant, presenting an excellent opportunity for an owner-user to establish their business in a highly visible location or for an investor to lease the space at market rent and maximize the property's income potential. Based on full occupancy, the property offers a projected annual net operating income of approximately $176,877, representing an attractive approximately 6% projected cap rate.
Ideally situated along the vibrant Avenue U commercial corridor, the property benefits from outstanding visibility, heavy foot traffic, and close proximity to shopping, restaurants, schools, and public transportation.
Whether you're looking to occupy the corner retail space, expand your investment portfolio, or acquire a high-performing mixed-use asset with value-add potential, this is a rare opportunity in one of Brooklyn's most sought-after neighborhoods.
Don't miss this exceptional mixed-use property located on bustling Avenue U in the heart of Gravesend, Brooklyn. This well-maintained building sits on a 20×100 lot with a full 20×100 building footprint and features 2 ground-floor commercial units plus 6 residential apartments.
The residential portion consists of 9 total bedrooms and 6 bathrooms. Two apartments are market-rate (unregulated), offering immediate rental flexibility, while the remaining four units are rent-stabilized, providing stable, reliable income with long-term upside potential.
One of the corner commercial spaces is currently vacant, presenting an excellent opportunity for an owner-user to establish their business in a highly visible location or for an investor to lease the space at market rent and maximize the property's income potential. Based on full occupancy, the property offers a projected annual net operating income of approximately $176,877, representing an attractive approximately 6% projected cap rate.
Ideally situated along the vibrant Avenue U commercial corridor, the property benefits from outstanding visibility, heavy foot traffic, and close proximity to shopping, restaurants, schools, and public transportation.
Whether you're looking to occupy the corner retail space, expand your investment portfolio, or acquire a high-performing mixed-use asset with value-add potential, this is a rare opportunity in one of Brooklyn's most sought-after neighborhoods.
Location
State NY
County Kings (brooklyn)
Area Gravesend
Zoning R5B
Rooms
Basement Other
Interior
Interior Features None
Hot Water Gas
Heating Gas
Flooring Hardwood, Tile
Heat Source Gas
Exterior
Exterior Feature Brick, Other
Roof Type Flat
Building
Story 4
Foundation Poured Concrete
Others
Energy Description Gas
Financing Bank Mortgage,Cash
Listed by Tiger Realty
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