477 5th Avenue - 388 11th Street
Fully Leased Mixed-Use Investment | Prime Park Slope Location
Marketing description
Fully leased Park Slope mixed-use property featuring free-market apartments and a stable retail tenant with expense reimbursements. In-place cash flow with upside.
This is a rare opportunity to acquire a fully leased, mixed-use property offering immediate cash flow and long-term upside in the heart of Park Slope. The building consists of three free-market residential apartments over a ground-floor retail tenant, providing a stable and diversified income stream.
The retail tenant pays base rent plus reimburses a portion of operating expenses, including real estate taxes and water & sewer, resulting in a favorable expense profile. Residential units feature spacious layouts and benefit from strong rental demand, with clear upside as rents reach full market.
At current in-place income, the property delivers solid cash flow with minimal management intensity. Investors will appreciate the simple walk-up configuration, absence of regulated units, and the long-term appeal of the surrounding neighborhood.
This asset is well suited for buyers seeking a stabilized Brooklyn mixed-use investment with predictable performance, defensible underwriting, and future rent growth potential.
Investment highlights
Fully Leased Mixed-Use Asset with immediate in-place cash flow
Three Free-Market Apartments offering long-term rent upside
Stable Retail Tenant reimbursing 25% of taxes and water & sewer
Low Operating Expense Profile with simple walk-up construction
Predictable cash flow
Prime Park Slope Location with strong residential and retail demand
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