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1537 Nostrand Ave 3,300 SF 67% Leased Retail Building Brooklyn, NY 11226 $1,450,000 ($439.39/SF) 5.78% 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
The are two renovated 3 bedroom apts over 1 commercial space. About 1100 sq ft per floor plus basement. The apts are occupied with qualified tenants in free market apts. ( month to month at this point.) The commercial space which is also renovated and includes the basement and yard will be delivered vacant. The tenants pay their own heat . The commercial space has a separate boiler and split systems
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 center kitchens and bathrooms, and updated layouts that provide for 3 real bedrooms.
The commercial tenant is vacating.. Commercial rents for this store are valued at about 4500 per month
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 center kitchens and bathrooms, and updated layouts that provide for 3 real bedrooms.
The commercial tenant is vacating.. Commercial rents for this store are valued at about 4500 per month
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
Building Class
C
Year Built
1931
Price
$1,450,000
Price Per SF
$439.39
Cap Rate
5.78%
NOI
$83,824
Percent Leased
67%
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
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04901-0071 | Total Assessment | $97,080 (2026) |
| Land Assessment | $10,560 (2026) | Annual Taxes | $10,000 ($3.03/SF) |
| Improvements Assessment | $86,520 (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
04901-0071
Land Assessment
$10,560 (2026)
Improvements Assessment
$86,520 (2026)
Total Assessment
$97,080 (2026)
Annual Taxes
$10,000 ($3.03/SF)
Tax Year
2024
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Contact the Sale Advisor
1537 Nostrand Ave