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135 16th St
Brooklyn, NY 11215
Retail Property For Sale
Investment Highlights
- Heavy Traffic
- Prime Location
- Excellent Income Opportunity
- Development Site Oppotunity
- Delivered mostly vacant
Executive Summary
559 4th Avenue a/k/a 133-135 16th Street presents a rare mixed-use investment and development opportunity in the heart of the rapidly transforming Park Slope/Gowanus corridor. Situated on a prominent northeast corner lot, this income-producing property combines strong existing infrastructure with significant future upside through additional buildable square footage. The property sits on a 20 ft x 90 ft lot with a current built area of approximately 5,346 square feet and building dimensions of 20 ft x 90 ft. Zoned R8A / C2-4 within the Enhanced Commercial District - 1 (EC-1), the site offers substantial development potential
Maximum buildable area of approximately 10,836 square feet, leaving additional buildable area available.
Zoning & Development Highlights:
Residential FAR: 6.02 Facility FAR: 6.5
Current FAR: 2.97
Max Buildable Area: 10,836 SF
Current Built Area: 5,765 SF
Property Features:
Four residential rental apartments
One basement studio unit
Finished basement with kitchenette
Two vacant commercial storefronts
Two-car garage with electric garage door
Most residential units to be delivered vacant
Regular-shaped corner lot with northeast exposure
Ground elevation: 54 ft
This versatile mixed-use asset offers exceptional flexibility for investors, developers, end-users, or 1031 exchange buyers seeking immediate income with long-term redevelopment potential. The combination of vacant commercial space, residential units, garage parking, and unused FAR creates multiple value-add strategies ranging from luxury rentals and condominium conversion to mixed-use redevelopment or owner-occupancy.
Perfectly positioned along bustling 4th Avenue with close proximity to transportation, retail corridors, dining, and the ongoing growth surrounding Gowanus and South Brooklyn, this is an opportunity to acquire a strategically located property with both stable fundamentals and meaningful future upside.
2 vacant commercial spaces
3 addresses 559 4th avenue, 133 16th street and 135 16th street
Maximum buildable area of approximately 10,836 square feet, leaving additional buildable area available.
Zoning & Development Highlights:
Residential FAR: 6.02 Facility FAR: 6.5
Current FAR: 2.97
Max Buildable Area: 10,836 SF
Current Built Area: 5,765 SF
Property Features:
Four residential rental apartments
One basement studio unit
Finished basement with kitchenette
Two vacant commercial storefronts
Two-car garage with electric garage door
Most residential units to be delivered vacant
Regular-shaped corner lot with northeast exposure
Ground elevation: 54 ft
This versatile mixed-use asset offers exceptional flexibility for investors, developers, end-users, or 1031 exchange buyers seeking immediate income with long-term redevelopment potential. The combination of vacant commercial space, residential units, garage parking, and unused FAR creates multiple value-add strategies ranging from luxury rentals and condominium conversion to mixed-use redevelopment or owner-occupancy.
Perfectly positioned along bustling 4th Avenue with close proximity to transportation, retail corridors, dining, and the ongoing growth surrounding Gowanus and South Brooklyn, this is an opportunity to acquire a strategically located property with both stable fundamentals and meaningful future upside.
2 vacant commercial spaces
3 addresses 559 4th avenue, 133 16th street and 135 16th street
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
4,206 SF
Building Class
C
Year Built
1931
Price
$2,995,000
Price Per SF
$712.08
Cap Rate
7%
NOI
$209,650
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.61
Lot Size
0.06 AC
Zoning
R8A, C2-4 - Medium density residential district, High traffic
Parking
2 Spaces (0.48 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Commuter Rail
- Corner Lot
- Metro/Subway
- Signalized Intersection
Property Taxes
| Parcel Number | 01047-0001 | Improvements Assessment | $1,039,500 |
| Land Assessment | $11,700 | Total Assessment | $1,051,200 |
Property Taxes
Parcel Number
01047-0001
Land Assessment
$11,700
Improvements Assessment
$1,039,500
Total Assessment
$1,051,200
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