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347 Grand St

4,170 SF 100% Leased Retail Building Brooklyn, NY 11211 $3,350,000 ($803/SF)

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Investment Highlights

3-story 4,170± SF mixed use building built on a 2,317± SF lot
2 occupied apartments and one vacant 2,300± SF store
Located on the north side of Grand Street between Marcy Avenue and Havemeyer Street in the Williamsburg neighborhood of Brooklyn

The property is zoned R6B / C2-4
The large 2BR free-market apartments are currently rented and the vacant store is projected at $12,500/month ($65/SF)
A short walk to the Metropolitan Avenue [G] and Lorimer Street [L] subway stations

Executive Summary

347 Grand Street is a 3-story 4,170± SF mixed use building built on a 2,317± SF lot. The property is zoned R6B / C2-4 with 2 occupied apartments and one vacant 2,300± SF store. The large free-market apartments are currently rented and the vacant store is projected at $12,500/month ($65/SF). The property is located on the north side of Grand Street between Marcy Avenue and Havemeyer Street in the Williamsburg neighborhood of Brooklyn, on a vibrant block with popular restaurants. There is value-add opportunity in upgrading the apartments, which could rent for 40%+ higher, as well as changing the building classification to reduce tax liability. Property is a short walk to the Metropolitan Avenue [G] and Lorimer Street [L] subway stations.

347 Grand Street