347 Grand StBrooklyn, NY 11211

This exceptional 3-story mixed-use building at 347 Grand Street in Williamsburg, Brooklyn offers a compelling investment opportunity. Spanning 4,170 square feet on a 2,317 square foot lot, this 1910-built property boasts three units: two occupied, rent-generating apartments and a vacant 2,300 square foot commercial space. The building is zoned R6B/C2-4, providing flexibility for future development. Currently, the apartments are large, free-market units, and the vacant store is projected to command $12,500 per month in rent, based on a $65 per square foot rate. Significant value-add potential exists through apartment upgrades, potentially increasing rental income by over 40%, and exploring options to reclassify the building to minimize tax burdens. The property's prime location on the north side of Grand Street, between Marcy Avenue and Havemeyer Street, places it within a vibrant neighborhood known for its popular restaurants and close proximity to the Metropolitan Avenue (G) and Lorimer Street (L) subway stations. The asking price is $3,350,000, representing a price per square foot of $803.36. Additionally, 463 square feet of air rights are available. This property presents a rare chance to acquire a well-situated mixed-use asset with substantial upside potential in a highly sought-after Brooklyn neighborhood.