Free Market Mixed-Use Building | Gowanus 281 3rd Ave 3,000 SF Retail Building Brooklyn, NY 11215 For Sale
INVESTMENT HIGHLIGHTS
- 2,531 Gross SF
- 1 Commercial Space
- Very Low Expenses
- 2 Free Market Residential Units
- Close proximity to Atlantic Terminal
EXECUTIVE SUMMARY
TerraCRG has been exclusively retained to represent ownership in the sale of 281 3rd Avenue, a mixed-use building in the heart of Gowanus. Located between Carroll and President Street, the property consists of 2 free market apartments and one retail store occupied by a Nail Salon.
The residential units are rented on a month-month basis and have substantial upside on the rents. The 2,531 SF property has very low expenses as it is in protected tax class 1. It currently has a gross annual income of ~$111,000 and a net operating income of ~$93,000 after expenses.
Located in the bustling neighborhood of Gowanus, the property is near multiple recently completed new construction rental developments and sits close to the 4th Ave R train and half a mile from Atlantic Terminal.
The residential units are rented on a month-month basis and have substantial upside on the rents. The 2,531 SF property has very low expenses as it is in protected tax class 1. It currently has a gross annual income of ~$111,000 and a net operating income of ~$93,000 after expenses.
Located in the bustling neighborhood of Gowanus, the property is near multiple recently completed new construction rental developments and sits close to the 4th Ave R train and half a mile from Atlantic Terminal.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,000 SF
Building Class
B
Year Built/Renovated
1931/2006
Tenancy
Single
Building Height
3 Stories
Building FAR
2.26
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
M1-4 - M1-4, R6B
Frontage
22’ on 3rd Ave.
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (93)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00448-0005 | Improvements Assessment | $173,880 |
| Land Assessment | $12,660 | Total Assessment | $186,540 |
