1301 Gravesend Neck Rd
Brooklyn, NY 11229
$150K REDUCTION CAP 6.02% MIXED-USE PORTFOLIO · Retail Property For Sale

$150,000 PRICE CUT!! 1301-1305 Gravesend Neck Road, Brooklyn NY 11229. This meticulously maintained investment property consists of 2 completely updated corner mixed-use brick buildings totaling 7,150 SF, including two basements used by commercial tenants (Price per SF $342) with 3 Retail and 4 Residential units. The buildings are in excellent condition with updated electric systems, new Boilers, W/H, windows, rubber roofs, kitchen cabinets, granite counter-tops, appliances, and so on. The property is located on the busy commercial avenue in Prime Homecrest / Sheepshead Bay area of South Brooklyn steps away from all the public transportation, shopping, schools, parks, restaurants and places of worship. This property is an excellent choice for the owner-user or savvy investor. Current Gross Annual Income (GAI) $165,123, Total annual expenses $18,799, Net Operational Income (NOI) $147,324, 2019 CAP Rate 6.02%. Please review attached Offering Memorandum for the details.