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1537 Nostrand Ave 3,300 SF 100% Leased Retail Building Brooklyn, NY 11226 $1,475,000 ($446.97/SF) 5.68% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy foot traffic and close to major retail activity on Church Ave There are two major residential projects across the street.
- the two residential apts have good tenants with under market rents. each apt can be easily rented for 3000.00 each.
- apartments have split systems for a/c and heat
EXECUTIVE SUMMARY
Fully occupied. Mixed use building in the heart of Flatbush just south of Prospect Lefferts Gardens. Major residential development across the street. Subway and bus lines right outside and down the block. Major retail on Church Ave. " Little Caribbean " is on the upward trend. Named one of the coolest neighborhoods in the world by TIME OUT Magazine.
There is a growing food lovers scene, all within a few blocks of this location.
3 bedroom 1 bath over 3 bedroom 1 bath over commercial space over basement.
The apts have split systems, updated kitchens and bathrooms, and updated layouts that provide for 3 real bedrooms.
The comercial tenant has 2 1/2 years left on the lease. Currently paying over 3536 with scheduled increases . 3677 in 2026 .
There is a growing food lovers scene, all within a few blocks of this location.
3 bedroom 1 bath over 3 bedroom 1 bath over commercial space over basement.
The apts have split systems, updated kitchens and bathrooms, and updated layouts that provide for 3 real bedrooms.
The comercial tenant has 2 1/2 years left on the lease. Currently paying over 3536 with scheduled increases . 3677 in 2026 .
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$103,828
|
$31.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,828
|
$31.46
|
| Taxes |
$10,000
|
$3.03
|
| Operating Expenses |
$10,000
|
$3.03
|
| Total Expenses |
$20,000
|
$6.06
|
| Net Operating Income |
$83,828
|
$25.40
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $103,828 |
| Annual Per SF | $31.46 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $103,828 |
| Annual Per SF | $31.46 |
| Taxes | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $3.03 |
| Operating Expenses | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $3.03 |
| Total Expenses | |
|---|---|
| Annual | $20,000 |
| Annual Per SF | $6.06 |
| Net Operating Income | |
|---|---|
| Annual | $83,828 |
| Annual Per SF | $25.40 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,300 SF
Year Built
1931
Price
$1,475,000
Price Per SF
$446.97
Cap Rate
5.68%
NOI
$83,824
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.89
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
R6 - Medium density residential district
Frontage
21’ on Nostrand Ave
AMENITIES
- Bus Line
- Commuter Rail
- Metro/Subway
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 04901-0071 | Total Assessment | $73,920 (2025) |
| Land Assessment | $10,560 (2025) | Annual Taxes | $10,000 ($3.03/SF) |
| Improvements Assessment | $63,360 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
04901-0071
Land Assessment
$10,560 (2025)
Improvements Assessment
$63,360 (2025)
Total Assessment
$73,920 (2025)
Annual Taxes
$10,000 ($3.03/SF)
Tax Year
2024
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Presented by
Alexander Bilu Inc.
1537 Nostrand Ave
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