248 Avenue P
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
248 Avenue P
4,522 SF 67% Leased Office Building Brooklyn, NY 11204 $1,608,000 ($356/SF) 6.03% Cap Rate
Investment Highlights
- Heavy foot and transportation traffic
- Build and ready to be used
- Lots of natural lights
Executive Summary
Bensonhurst/ Gravesand Neighborhood!!! Seller is under process of reducing property tax.Welcome to this exceptional mixed-use property, offering a versatile combination of medical and residential spaces across three levels.
This brick construction corner property has a built-in garage and handicap platform elevator for 2 separate medical offices. Street Level has a busy podiatrist office, in business for the past 16 years, including an office space with five exam rooms,1.5 baths, a reception area, utilities room and storage. The first floor of this property features a recently renovated and currently vacant doctor's office, boasting a spacious layout designed to accommodate any medical practice needs. This well-appointed space includes five exam rooms, alongside convenient amenities such as 1.5 baths, a spacious reception area, kitchen and ample built-in storage space in the attic. On the top floor, you'll discover a huge three-bedroom one-bathroom residential unit, providing immediate rental income, making it an attractive option for investors seeking to diversify their portfolio with residential real estate. The building was completely rebuilt with a new certificate of occupancy in 2005. Within the past 2 years the following house improvements were done: installation of new roof, new sewer and water main line, masonry stone porches and iron rod fence. Separate utilities with separate meters for gas and electric for all 3 units make it more profitable for the owner. Projected net income almost 100K a year that makes it almost 7% cap!
This brick construction corner property has a built-in garage and handicap platform elevator for 2 separate medical offices. Street Level has a busy podiatrist office, in business for the past 16 years, including an office space with five exam rooms,1.5 baths, a reception area, utilities room and storage. The first floor of this property features a recently renovated and currently vacant doctor's office, boasting a spacious layout designed to accommodate any medical practice needs. This well-appointed space includes five exam rooms, alongside convenient amenities such as 1.5 baths, a spacious reception area, kitchen and ample built-in storage space in the attic. On the top floor, you'll discover a huge three-bedroom one-bathroom residential unit, providing immediate rental income, making it an attractive option for investors seeking to diversify their portfolio with residential real estate. The building was completely rebuilt with a new certificate of occupancy in 2005. Within the past 2 years the following house improvements were done: installation of new roof, new sewer and water main line, masonry stone porches and iron rod fence. Separate utilities with separate meters for gas and electric for all 3 units make it more profitable for the owner. Projected net income almost 100K a year that makes it almost 7% cap!
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$142,800
|
$31.58
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,800
|
$31.58
|
| Taxes |
$39,484
|
$8.73
|
| Operating Expenses |
$6,250
|
$1.38
|
| Total Expenses |
$45,734
|
$10.11
|
| Net Operating Income |
$97,066
|
$21.47
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $142,800 |
| Annual Per SF | $31.58 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,800 |
| Annual Per SF | $31.58 |
| Taxes | |
|---|---|
| Annual | $39,484 |
| Annual Per SF | $8.73 |
| Operating Expenses | |
|---|---|
| Annual | $6,250 |
| Annual Per SF | $1.38 |
| Total Expenses | |
|---|---|
| Annual | $45,734 |
| Annual Per SF | $10.11 |
| Net Operating Income | |
|---|---|
| Annual | $97,066 |
| Annual Per SF | $21.47 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
4,522 SF
Building Class
C
Year Built/Renovated
1935/2021
Price
$1,608,000
Price Per SF
$356
Cap Rate
6.03%
NOI
$96,962
Percent Leased
67%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,500 SF
Building FAR
2.60
Lot Size
0.04 AC
Zoning
R5B - 2 Medical Offices, One Family and One Car Garage.
Parking
6 Spaces (0.67 Spaces per 1,000 SF Leased)
Amenities
- Courtyard
- Fenced Lot
- Metro/Subway
- Security System
- Accent Lighting
- Reception
- Storage Space
- Central Heating
- Natural Light
- Recessed Lighting
- Secure Storage
- Wi-Fi
- Hardwood Floors
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
This brick construction corner property has a built-in garage and handicap platform elevator. first floor of this property features a recently renovated and currently vacant doctor's office, boasting a spacious layout designed to accommodate any medical practice needs. This well-appointed space includes five exam rooms, alongside convenient amenities such as 1.5 baths, a spacious reception area, kitchen and ample built-in storage space in the attic.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,500 SF | Office/Medical | Full Build-Out | Now |
1st Floor
| Size |
| 1,500 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 of 23
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Floor
| Size | 1,500 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
This brick construction corner property has a built-in garage and handicap platform elevator. first floor of this property features a recently renovated and currently vacant doctor's office, boasting a spacious layout designed to accommodate any medical practice needs. This well-appointed space includes five exam rooms, alongside convenient amenities such as 1.5 baths, a spacious reception area, kitchen and ample built-in storage space in the attic.
1 of 1
Walk Score ®
Walker's Paradise (92)
Transit Score ®
Rider's Paradise (94)
PROPERTY TAXES
| Parcel Number | 06626-0010 | Total Assessment | $382,050 (2024) |
| Land Assessment | $48,150 (2024) | Annual Taxes | $39,484 ($8.73/SF) |
| Improvements Assessment | $333,900 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
06626-0010
Land Assessment
$48,150 (2024)
Improvements Assessment
$333,900 (2024)
Total Assessment
$382,050 (2024)
Annual Taxes
$39,484 ($8.73/SF)
Tax Year
2023
1 of 36
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
248 Avenue P
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.