171 Avenue U

Gravesend

$2,650,000
Price
6
Beds
3,000 Sq. Ft.
$883 / Sq. Ft.
3,000
Sq. Ft.
$883
per Sq. Ft.

Description

Prime Investment & Owner-User Opportunity in the Heart of Brooklyn’s Gravesend. Come into a rare opportunity with this pristine mixed-use building, an ideal fit for both owner-users and savvy investors. Nestled in the vibrant core of Gravesend in Brooklyn, this property seamlessly combines residential comfort with prime commercial potential, making it a standout in one of New York’s most dynamic neighborhoods. The upper floors, comprising the 2nd and 3rd levels, house two spacious free-market apartments,...Prime Investment & Owner-User Opportunity in the Heart of Brooklyn’s Gravesend. Come into a rare opportunity with this pristine mixed-use building, an ideal fit for both owner-users and savvy investors. Nestled in the vibrant core of Gravesend in Brooklyn, this property seamlessly combines residential comfort with prime commercial potential, making it a standout in one of New York’s most dynamic neighborhoods. The upper floors, comprising the 2nd and 3rd levels, house two spacious free-market apartments, each offering three bedrooms and designed to attract premium tenants. With modern finishes and ample natural light, these units offer both style and convenience, enhancing the building’s appeal and rental value. On the ground floor, a fully equipped retail space awaits – the perfect turnkey solution for a food production business or restaurant commissary. Boasting an impressive commercial kitchen build-out, this space includes ready hook-ups for high-capacity stoves, grills, walk-in freezers, and chillers, all serviced by a code-compliant exhaust system extending to the roof. This level’s setup is crafted to meet the demands of Brooklyn’s bustling food scene, whether for a new venture or an expanding business. With a proforma annual rental income of $109,652 and projected expenses, including real estate taxes, estimated at $19,776, the building promises a strong financial outlook. A projected Net Operating Income of $89,876 underlines this property's remarkable investment potential. This mixed-use gem in Gravesend is more than just a property; it’s a pathway to growth, community connection, and entrepreneurial success in the heart of Brooklyn.
  1. Listed by Victor Li • Amerihomes Realty of NY, Inc

Amenities

  • Ground Floor
  • Walk Up
  • Freezer
  • Private Outdoor Space
  • Parking Included
  • Stove
  • Lowrise
LISTING UPDATED: 10/30/2024 09:22 AM

Property Details for 171 Avenue U

StatusActive
MLS ID486969
Days on Market54
Taxes$7,676 / year
Maintenance-
Min. Down Pymt-
Total Rooms0.0
Compass TypeMixed Use
MLS TypeMixed Use
Year Built1931
Lot Size1,600 SF / 20' x 80'
CountyKings County

Building

171 Avenue U

3 Units3 StoriesBuilt in 1931

Building Information for 171 Avenue U

Stories3Residences3Year Built1931Lot Size1,600 SF / 20' x 80'Building Age-Building Type-

Property Information for 171 Avenue U

Summary
Location and General Information
  • Block: 7099
  • Number Of Stories: 1
  • Cross Street Name: West 6th St
  • Cross Street Name: West 7th St
  • Roof: Other
Parking
  • Parking Feature Single: None
Taxes and HOA Information
  • Financing: 1031 Exchange, Bank Mortgage, Cash
  • Tax Amount: 7676.0
  • Gross Expense: 19776.0
  • Gross Income: $109,652.00
  • Cap Rate: .03%
Property
Lot Information
  • Sq Ft Total: 3000
  • Yard: Back
  • Lot Number: 43
  • Lot Size Irregular YN: No
  • Lot Size Length: 80
  • Lot Size Width: 20
Property and Assessments
  • Commercial Condo YN: No
Utilities
  • Heat Delivery: Steam/Radiator
  • Heating Fuel: Gas
  • AC Units: 3
  • Hot Water: Gas
Interior and Exterior Features
Interior Features
  • Basement Amenities: Full
  • Commercial Features Interior: Fire - Smoke Alarm, Kitchen, Restrooms - Public, Other
  • Foundation Details: Other
  • Flooring: Ceramic, Hardwood, Laminate, Tile, Other
  • Unit Count: 3
  • Lavatories: Other
  • Construction Materials: Brick
  • Electric: Circuit Breakers
Exterior Features
  • Exterior: Brick
  • Commercial Features Exterior: Sign - Door
Multi Family
Multi-Family Information
  • Building Footprint Sq Ft: 1000.0
  • Building Length: 50.0
  • Building Type: Attached
  • Building Width: 20.0
Unit 1
  • Unit Baths Full: 1
  • Unit Category: Store
  • Unit Current Rent: 4622.68
  • Unit Features: Oven/Range
  • Unit Floor: 1
  • Unit Status: Leased
  • Unit Unit Type: Restaurant
Unit 2
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0.0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 3
  • Unit Category: Apt
  • Unit Current Rent: 2550.0
  • Unit Features: Oven/Range
  • Unit Floor: 2
  • Unit Rooms Total: 5
  • Unit Status: Leased
  • Unit Unit Type: 3 Bedrooms
Unit 3
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 3
  • Unit Category: Apt
  • Unit Current Rent: 1950.0
  • Unit Features: Oven/Range
  • Unit Floor: 2
  • Unit Rooms Total: true
  • Unit Status: Month-to-Month
  • Unit Unit Type: 3 Bedrooms
Agent
Agent Information
  • Net Operating Income: 89876.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 7700.0
  • Owner Occupied: No

Property History for 171 Avenue U

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 171 Avenue U

Taxable ValueLand$13,800Additions$58,140Total$71,940
Home Facts
Total Finished SqFt3,000 SqFtLot Size1,600 SqFtYear Built1931ZoningR5BAPN3070990043

Schools near 171 Avenue U

This home is within Nyc Geog District #21 - Brooklyn.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
P.S. 95 The Gravesend
PublicK to 8

Is 228 David A Boody
Public6 to 8

High School Of Sports Management
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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171 Avenue U is a mixed use property for sale in Gravesend. This property was listed for sale on October 30, 2024 by Amerihomes Realty of NY, Inc, it's currently listed at $2,650,000. This listing's school district is Nyc Geog District #21 - Brooklyn. Nearby schools include P.S. 95 The Gravesend, Life Academy High School For Film And Music and Is 228 David A Boody. 171 Avenue U is a 6-bed, 0-bath, 3,000 sqft mixed use property built in 1931.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Amerihomes Realty of NY, Inc

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.