557 Chester St
Brooklyn, NY 11212
Retail Property For Sale
Investment Highlights
- Strong In Place Cap Rate (7.4%)
- Offers An Additional 1,200 Buildable Square Feet (As-Of-Right)
- Low Property Taxes
Property Facts
About 557 CHESTER ST , BROOKLYN, NY 11212
Marcus & Millichap is pleased to exclusively present the property located at 557 Chester Street, a corner mixed-use, two-story brick building. The property is located on the southeast corner of Chester Street and Lott Avenue in the Brownsville Section of Brooklyn, New York (Block: 03625; Lot: 0030). The building is built approximately 20 feet by 100 feet on a 20 foot by 100 foot lot. The property offers an additional 1,200 buildable square feet of air rights (As-of-Right) The building is currently comprised of one large residential unit and three stores. The top floor in the two-story building offers a large two-bedroom unit and a one-bedroom unit. While the ground floor has three stores, the barbershop the restaurant and a bar which are all on existing leases with increases in place. The building is located in Brownsville within two blocks walking distance of the 3 Train at Rockaway Avenue. The property is zoned R6.
Property Taxes
| Parcel Number | 03625-0030 | Improvements Assessment | $148,050 |
| Land Assessment | $40,500 | Total Assessment | $188,550 |
Property Taxes
