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258 7th Ave
Brooklyn, NY 11215
Retail Property For Sale
Investment Highlights
- Offered at $2,975,000 with ~$750K renovation budget
- Stabilized NOI: ~$292,500/year
- Ground-floor retail with expansion potential + 2 apartments
- All-in basis $3.725M vs. $4.475M recent neighborhood comp
- Cap Rate: ~9.8% (purchase) | ~7.9% (all-in)
- Tenants pay own utilities; retail typically contributes toward taxes
Executive Summary
Park Slope Mixed-Use Value-Add Opportunity – $2,975,000
Property Overview
Rare opportunity to acquire a mixed-use building in prime Park Slope at a significant discount to recent comparable sales. The property consists of a ground-floor retail space with potential for expansion plus two residential apartments above.
Comparable Sale
122 7th Ave, Park Slope
Sold for $4.475M
Estimated gross rent: $348,000/year
Implied cap rate: ~7.8% (before expenses)
Offering Details
Asking Price: $2,975,000
Estimated Renovation: $750,000
All-in Basis: $3,725,000
Configuration: Retail + 2 Apartments
Location: Highly desirable 7th Avenue corridor in Park Slope
Financials
Stabilized Gross Rent: $348,000/year
2025/26 Property Taxes: $35,553/year
Other Operating Expenses (est.): $20,000/year
Stabilized NOI: ~$292,500/year
Cap Rate (on Purchase Price): ~9.8%
Cap Rate (on All-in Basis): ~7.9%
Investment Highlights
Acquisition basis more than $1.5M below a recent neighborhood comp
Strong stabilized NOI with multiple exit strategies
Hold for income and long-term appreciation
Renovate and resell entire building at market pricing
Convert apartments to condos and retain retail for rental income
Tenants pay their own utilities; retail typically contributes toward real estate taxes
Prime Park Slope location with strong rental demand and limited supply
Property Overview
Rare opportunity to acquire a mixed-use building in prime Park Slope at a significant discount to recent comparable sales. The property consists of a ground-floor retail space with potential for expansion plus two residential apartments above.
Comparable Sale
122 7th Ave, Park Slope
Sold for $4.475M
Estimated gross rent: $348,000/year
Implied cap rate: ~7.8% (before expenses)
Offering Details
Asking Price: $2,975,000
Estimated Renovation: $750,000
All-in Basis: $3,725,000
Configuration: Retail + 2 Apartments
Location: Highly desirable 7th Avenue corridor in Park Slope
Financials
Stabilized Gross Rent: $348,000/year
2025/26 Property Taxes: $35,553/year
Other Operating Expenses (est.): $20,000/year
Stabilized NOI: ~$292,500/year
Cap Rate (on Purchase Price): ~9.8%
Cap Rate (on All-in Basis): ~7.9%
Investment Highlights
Acquisition basis more than $1.5M below a recent neighborhood comp
Strong stabilized NOI with multiple exit strategies
Hold for income and long-term appreciation
Renovate and resell entire building at market pricing
Convert apartments to condos and retain retail for rental income
Tenants pay their own utilities; retail typically contributes toward real estate taxes
Prime Park Slope location with strong rental demand and limited supply
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,925 SF
Building Class
C
Year Built
1925
Price
$2,975,000
Price Per SF
$1,017.09
Cap Rate
9.83%
NOI
$292,500
Tenancy
Single
Building Height
3 Stories
Building FAR
1.68
Lot Size
0.04 AC
Zoning
R6A - R6A, C1-4
Frontage
Amenities
- Signage
Property Taxes
| Parcel Number | 00989-0043 | Improvements Assessment | $181,740 |
| Land Assessment | $31,680 | Total Assessment | $213,420 |
Property Taxes
Parcel Number
00989-0043
Land Assessment
$31,680
Improvements Assessment
$181,740
Total Assessment
$213,420
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