1401 Foster AveBrooklyn, NY 11230

For Sale
$1,999,000

High-Yield Corner Property, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional mixed-use building at 1401 Foster Ave, Brooklyn, NY 11230, presents a lucrative investment opportunity. The 5,060 square foot property boasts a prime corner location in Kensington, offering maximum visibility and foot traffic. Currently 100% occupied, the building comprises four units: two spacious residential units and two versatile commercial units, generating a diversified rental income stream. The property is zoned R6A/C2-4, and sits on a 2,490 square foot lot, providing ample space for future expansion or development, including potential utilization of air rights. The asking price is $1,999,000, representing a compelling 6.00% cap rate and a price per square foot of $395.06. Conveniently located near the intersection of Foster Ave & Rugby Rd, the property benefits from excellent public transportation access, with the B & Q trains at Newkirk Ave and several bus lines nearby. The surrounding area is vibrant and features a diverse range of established businesses, including major retailers and local favorites. This is a rare opportunity to acquire a high-performing, mixed-use asset in a thriving Brooklyn neighborhood.

Highlights

  • High-visibility corner lot.
  • Five commercial spaces available for lease.
  • Two residential units included.
  • Strong, diversified income stream from multiple tenants.
  • Untapped potential: air rights available for future expansion.
  • 5,060 square foot building.

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.634003
Longitude
-73.963857
1401 Foster Ave, Brooklyn, New York

FAQs

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1401 Foster Ave
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