Listed by Brown Harris Stevens
$2,500,000
577 Decatur Street
Details
Property Type Mixed Use
Sub Type 2
Square Footage 3,600
Units 2
Cap Rate 6.18%
NOI $154,552
Occupancy 95%
Price per SqFt $694
Class B
Year Built 1865
Buildings 1
Stories 3
Zoning R5B (1.35) Height Limit 33’
Investment Type Value Add
Occupancy Date 11/06/2023
Ownership LOCAL
Mixed Use | 6.18% CAP | 3,600 SF
Marketing description
A 20’ wide two unit three story corner mixed use building. The property has two stores on the first floor and two four-bedroom apartments above. There is a four car garage to the back.
The units have nice wood floors all the bedrooms have good size closets and get great sunlight. The units has 10’ ceilings and all the electric and plumbing has been updated. The kitchens have stainless steel appliances and granite counter tops. The full bathroom have modern tubs and toilets and are nicely tiled. The units also have a washer & dryer.
The property is a prime investment opportunity, an investor can add value by renting out the garages or convert them to stores. The second floor unit can use the roof of the garages as outdoor space.
The property is also a great user opportunity, a user can use the corner stores for their business and live in the second floor unit. The third floor apartment can be rented for income, along with the garages.
The property has great residential exposure on Decatur Street Avenue and commercial exposure on Howard Avenue. The J train is located four blocks away on Chauncey Street & Broadway.
Listing Contacts
Listed by Brown Harris Stevens
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$154,552.00
$12,879.33/mo
Valuation Metrics
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DSCR
6.18%
Cap Rate
6.18%
ROI
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