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1541 Nostrand Ave
Brooklyn, NY 11226
Retail Property For Sale
EXECUTIVE SUMMARY
Welcome to an exceptional investment opportunity at 1541 Nostrand Avenue, Brooklyn, NY, located in the vibrant neighborhood of Flatbush. This mixed-use building features two residential units and one commercial space, offering a highly desirable income-producing asset.
Upon entering, you're greeted by a classic walk-up design that exudes charm and functionality. The recent renovation, completed in 2024, ensures modern touches throughout. Each residential unit is thoughtfully laid out with 3 bedrooms and 2 bathrooms, providing ample space for comfort and style. The formal dining rooms in each unit are perfect for hosting and entertaining, while the voice intercom system adds a layer of convenience and security.
The commercial space is currently leased at $3,517.50 per month with a 5% annual rent escalator, contributing to a robust annual rent roll of $133K. The residential units each generate $3,800 per month, enhancing the property's strong income potential. Utility and tax expenses total approximately $9K annually, balancing the investment equation.
Discover a rare find in the heart of Brooklyn. Whether you're seeking an income-generating asset or a home with versatile living and business options, 1541 Nostrand Avenue stands out as a premier choice.
Upon entering, you're greeted by a classic walk-up design that exudes charm and functionality. The recent renovation, completed in 2024, ensures modern touches throughout. Each residential unit is thoughtfully laid out with 3 bedrooms and 2 bathrooms, providing ample space for comfort and style. The formal dining rooms in each unit are perfect for hosting and entertaining, while the voice intercom system adds a layer of convenience and security.
The commercial space is currently leased at $3,517.50 per month with a 5% annual rent escalator, contributing to a robust annual rent roll of $133K. The residential units each generate $3,800 per month, enhancing the property's strong income potential. Utility and tax expenses total approximately $9K annually, balancing the investment equation.
Discover a rare find in the heart of Brooklyn. Whether you're seeking an income-generating asset or a home with versatile living and business options, 1541 Nostrand Avenue stands out as a premier choice.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,300 SF
Building Class
C
Year Built
1931
Price
$2,095,000
Price Per SF
$634.85
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.89
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
R6 - Medium density residential district
Frontage
19’ on Nostrand Ave
AMENITIES
- Bus Line
- Commuter Rail
- Metro/Subway
PROPERTY TAXES
| Parcel Number | 04901-0069 | Improvements Assessment | $51,360 |
| Land Assessment | $10,860 | Total Assessment | $62,220 |
PROPERTY TAXES
Parcel Number
04901-0069
Land Assessment
$10,860
Improvements Assessment
$51,360
Total Assessment
$62,220
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