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1425 Foster Ave 2,992 SF Vacant Retail Building Brooklyn, NY 11230 $2,201,681 ($735.86/SF) 5.95% Cap Rate
Investment Highlights
- Delivered 100% Vacant | Ideal for Owner-User or Value-Add Investor
- Prime Commercial Storefront + Spacious 3-Bed/2-Bath Residence & Basement
- Under 500 Feet to Newkirk Plaza Express B/Q Subway Station
Executive Summary
EXECUTIVE SUMMARY
1425 Foster Avenue, Ditmas Park, Brooklyn, NY 11230
Asking Price: $2,199,000 | Building Size: ~3,400 SF | Delivered 100% Vacant
THE OPPORTUNITY
Positioned in one of Central Brooklyn's most vibrant commercial corridors, 1425 Foster Avenue presents a rare mixed-use investment opportunity. Spanning approximately 3,400 interior square feet across multiple levels plus a finished lower level, this classic brick property will be delivered 100% vacant at closing. This allows for immediate repositioning, owner-user occupancy, or a value-add leasing strategy without tenant buyout complications.
PROPERTY HIGHLIGHTS
* Turnkey Delivery: 100% Vacant on Day 1 for immediate occupancy or leasing.
* Ground-Level Commercial (~1,700 SF): High-visibility storefront with direct street frontage along Foster Avenue.
* Upper Residential Unit: Spacious 3-Bedroom, 2-Bathroom apartment ideal for high-end market rent or owner residence.
* Finished Lower Level: Full basement providing substantial storage, utility housing, or auxiliary workspace.
* Infrastructure: Solid brick construction featuring updated ductless heat pump heating/cooling systems and natural gas utilities.
* Low Overhead: Favorable annual NYC property tax assessment (~$6,487/year), keeping holding costs minimal and maximizing NOI.
LOCATION AND TRANSIT ADVANTAGE
* Subway Proximity: Located under 500 feet from the Newkirk Plaza B/Q express subway station, ensuring constant daily foot traffic and direct access to Manhattan.
* Strategic Corridor: Situated on Foster Avenue between Coney Island Avenue and East 15th Street at the border of Ditmas Park, Midwood, and Flatbush.
* Local Anchors: Steps away from popular neighborhood dining, shopping strips, local banking, and PS 217.
INVESTMENT STRATEGIES
1. Commercial Owner-User: Establish your retail store, medical office, or professional practice on the ground floor while using or renting the upper residence.
2. Value-Add Investor: Capitalize on strong Brooklyn market rents by leasing both units to achieve a projected 5.0% to 6.0% Pro Forma Cap Rate.
3. 1031 Exchange Target: Clean, unencumbered asset with straightforward management and low maintenance demands.
PROPERTY FINANCIALS
* Price: $2,199,000
* Building SF: 3,400 SF (~$646.76/SF)
* Lot Size: 1,310 SF
* Annual Property Taxes: ~$6,487
* Zoning: Commercial Overlay / Residential Mixed-Use
1425 Foster Avenue, Ditmas Park, Brooklyn, NY 11230
Asking Price: $2,199,000 | Building Size: ~3,400 SF | Delivered 100% Vacant
THE OPPORTUNITY
Positioned in one of Central Brooklyn's most vibrant commercial corridors, 1425 Foster Avenue presents a rare mixed-use investment opportunity. Spanning approximately 3,400 interior square feet across multiple levels plus a finished lower level, this classic brick property will be delivered 100% vacant at closing. This allows for immediate repositioning, owner-user occupancy, or a value-add leasing strategy without tenant buyout complications.
PROPERTY HIGHLIGHTS
* Turnkey Delivery: 100% Vacant on Day 1 for immediate occupancy or leasing.
* Ground-Level Commercial (~1,700 SF): High-visibility storefront with direct street frontage along Foster Avenue.
* Upper Residential Unit: Spacious 3-Bedroom, 2-Bathroom apartment ideal for high-end market rent or owner residence.
* Finished Lower Level: Full basement providing substantial storage, utility housing, or auxiliary workspace.
* Infrastructure: Solid brick construction featuring updated ductless heat pump heating/cooling systems and natural gas utilities.
* Low Overhead: Favorable annual NYC property tax assessment (~$6,487/year), keeping holding costs minimal and maximizing NOI.
LOCATION AND TRANSIT ADVANTAGE
* Subway Proximity: Located under 500 feet from the Newkirk Plaza B/Q express subway station, ensuring constant daily foot traffic and direct access to Manhattan.
* Strategic Corridor: Situated on Foster Avenue between Coney Island Avenue and East 15th Street at the border of Ditmas Park, Midwood, and Flatbush.
* Local Anchors: Steps away from popular neighborhood dining, shopping strips, local banking, and PS 217.
INVESTMENT STRATEGIES
1. Commercial Owner-User: Establish your retail store, medical office, or professional practice on the ground floor while using or renting the upper residence.
2. Value-Add Investor: Capitalize on strong Brooklyn market rents by leasing both units to achieve a projected 5.0% to 6.0% Pro Forma Cap Rate.
3. 1031 Exchange Target: Clean, unencumbered asset with straightforward management and low maintenance demands.
PROPERTY FINANCIALS
* Price: $2,199,000
* Building SF: 3,400 SF (~$646.76/SF)
* Lot Size: 1,310 SF
* Annual Property Taxes: ~$6,487
* Zoning: Commercial Overlay / Residential Mixed-Use
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$144,000
|
$48.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,200
|
$2.41
|
| Effective Gross Income |
$136,800
|
$45.72
|
| Taxes |
$6,487
|
$2.17
|
| Operating Expenses |
$18,000
|
$6.02
|
| Total Expenses |
$24,487
|
$8.18
|
| Net Operating Income |
$112,313
|
$37.54
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $144,000 |
| Annual Per SF | $48.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,200 |
| Annual Per SF | $2.41 |
| Effective Gross Income | |
|---|---|
| Annual | $136,800 |
| Annual Per SF | $45.72 |
| Taxes | |
|---|---|
| Annual | $6,487 |
| Annual Per SF | $2.17 |
| Operating Expenses | |
|---|---|
| Annual | $18,000 |
| Annual Per SF | $6.02 |
| Total Expenses | |
|---|---|
| Annual | $24,487 |
| Annual Per SF | $8.18 |
| Net Operating Income | |
|---|---|
| Annual | $112,313 |
| Annual Per SF | $37.54 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
2,992 SF
Building Class
C
Year Built
1933
Price
$2,201,681
Price Per SF
$735.86
Cap Rate
5.95%
NOI
$131,000
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.03 AC
Zoning
R6A - Medium density residential district
Frontage
25’ on Foster Ave
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 05235-0028 | Total Assessment | $104,760 |
| Land Assessment | $11,580 | Annual Taxes | $6,487 ($2.17/SF) |
| Improvements Assessment | $93,180 | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
05235-0028
Land Assessment
$11,580
Improvements Assessment
$93,180
Total Assessment
$104,760
Annual Taxes
$6,487 ($2.17/SF)
Tax Year
2026 Payable 2026
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1425 Foster Ave