248 Avenue P

Gravesend

$1,588,000
Price
3
Beds
3.5
Baths
4,522 Sq. Ft.
$351 / Sq. Ft.
4,522
Sq. Ft.
$351
per Sq. Ft.

Description

Welcome to this exceptional mixed-use property, offering a versatile combination of medical and residential spaces across three levels. This brick construction corner property has a built-in garage and handicap platform elevator for 2 separate medical offices. Street Level has a busy podiatrist office, in business for the past 16 years, including an office space with five exam rooms,1.5 baths, a reception area, utilities room and storage. The first floor of this property features a recently renovated...Welcome to this exceptional mixed-use property, offering a versatile combination of medical and residential spaces across three levels. This brick construction corner property has a built-in garage and handicap platform elevator for 2 separate medical offices. Street Level has a busy podiatrist office, in business for the past 16 years, including an office space with five exam rooms,1.5 baths, a reception area, utilities room and storage. The first floor of this property features a recently renovated and currently vacant doctor's office, boasting a spacious layout designed to accommodate any medical practice needs. This well-appointed space includes five exam rooms, alongside convenient amenities such as 1.5 baths, a spacious reception area, kitchen and ample built-in storage space in the attic. On the top floor, you'll discover a huge three-bedroom one-bathroom residential unit, providing immediate rental income, making it an attractive option for investors seeking to diversify their portfolio with residential real estate. The building was completely rebuilt with a new certificate of occupancy in 2005. Within the past 2 years the following house improvements were done: installation of new roof, new sewer and water main line, masonry stone porches and iron rod fence. Separate utilities with separate meters for gas and electric for all 3 units make it more profitable for the owner. Projected net income almost 100K a year that makes it almost 7% cap!
  1. Listed by Leonid Sklyar • RE/MAX Edge • Built-In Garage
  2. Listed by Alla Reuben • RE/MAX Edge

Amenities

  • Top Floor
  • Fence
  • Common Outdoor Space
  • Attic
  • Elevator
  • Walk Up
  • Garage
  • Parking Included
LISTING UPDATED: 11/11/2024 09:28 AM

Property Details for 248 Avenue P

StatusActive
MLS ID480732
Days on Market246
Taxes$39,484 / year
Maintenance-
Min. Down Pymt-
Total Rooms25.0
Compass TypeMixed Use
MLS TypeMixed Use
Year Built1935
Lot Size1,620 SF
CountyKings County

Building Information for 248 Avenue P

Stories2Residences-Year Built1935Lot Size1,620 SFBuilding Age-Building Type-

Property Information for 248 Avenue P

Summary
Location and General Information
  • Block: 6626
  • Number Of Stories: 2
  • Cross Street Name: West 5th St
  • Cross Street Name: West 6th St
  • Zoning: R5B
  • Roof: Shingle
  • Water Front Present YN: No
  • Number Of Vacant Units: 1
Parking
  • Parking Attributes: Built-In Garage
  • Parking Feature Single: Other
Taxes and HOA Information
  • Financing: 1031 Exchange, Bank Mortgage, Cash
  • Tax Amount: 39484.0
  • Gross Expense: 45728.0
  • Gross Income: $142,800.00
  • Cap Rate: .06%
Property
Lot Information
  • Lot Dimensions: 30X54
  • Sq Ft Total: 4522
  • Yard: None
  • Road Frontage: 30.0
  • Lot Number: 10
  • Lot Size Irregular YN: No
  • Lot Size Length: 54
  • Lot Size Width: 30
Property and Assessments
  • Commercial Condo YN: No
Utilities
  • Heat Delivery: Baseboard, Hot Air
  • Heating Fuel: Gas
  • Hot Water: Gas
  • Utility Expense: 250.0
  • Fuel Expense: 0.0
Interior and Exterior Features
Interior Features
  • Basement Amenities: Finished, Full
  • Commercial Features Interior: Elevator - Private, Fire - Smoke Alarm, Handicap Design, Kitchen, Lobby – Controlled Entry, Restrooms - Public, Restrooms - Staff, Security Alarm
  • Foundation Details: Poured Concrete
  • Flooring: Ceramic, Tile
  • Unit Count: 3
  • Lavatories: 4+
  • Construction Materials: Brick
  • Electric: 220 V, Circuit Breakers
  • Ceiling Height: 8-10 Foot
Exterior Features
  • Exterior: Brick
  • Commercial Features Exterior: Fence - Full, Guttering, Storm Drains
  • Handicap Access YNU: Yes
Multi Family
Multi-Family Information
  • Building Footprint Sq Ft: 1470.0
  • Building Length: 49.0
  • Building Type: Detached
  • Building Width: 30.0
Unit 1
  • Unit Baths Full: 1
  • Unit Baths Half: 1.0
  • Unit Category: Store
  • Unit Current Rent: 3400.0
  • Unit Room Description: Medical Office 5 Exem rooms 1.5 Bath
  • Unit Floor: Basement
  • Unit Occupant: Podiatrist
  • Unit Status: Month-to-Month
  • Unit Unit Type: Medical
Unit 2
  • Unit Category: Store
  • Unit Room Description: Medical Office 5 Exem rooms 1.5 Bath
  • Unit Floor: 1st floor
  • Unit Occupant: Vacant
  • Unit Projected Rent: 4500.0
  • Unit Status: Vacant
  • Unit Unit Type: Medical
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: 2650.0
  • Unit Room Description: 1500 Sq Ft 3 Bedroom 1 Bath
  • Unit Floor: Second
  • Unit Projected Rent: 3800.00
  • Unit Rooms Total: true
  • Unit Status: Month-to-Month
  • Unit Unit Type: 3 Bedrooms
Agent
Agent Information
  • Net Operating Income: 97072.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 3494.0
  • Certificate Of Occupancy YN: Yes
  • Owner Occupied: No

Property History for 248 Avenue P

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 248 Avenue P

This home is within Nyc Geog District #21 - Brooklyn.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
P.S. 177 The Marlboro
PublicPK to 5

I.S. 96 Seth Low
Public6 to 8

James Madison High School
Public9 to 12

Brooklyn Studio Secondary School
Public6 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.

Neighborhood Map and Transit

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248 Avenue P is a mixed use property for sale in Gravesend. This property was listed for sale on March 21, 2024 by RE/MAX Edge, it's currently listed at $1,588,000. This listing's school district is Nyc Geog District #21 - Brooklyn. Nearby schools include P.S. 177 The Marlboro, I.S. 96 Seth Low and James Madison High School. 248 Avenue P is a 3-bed, 3.5-bath, 4,522 sqft mixed use property built in 1935.

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 RE/MAX Edge

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.