Listed by Alpha Realty NY
$6,500,000
584 Myrtle Ave
Details
Property Type Retail, Multifamily
Sub Type Apartment Building, Commercial
Square Footage 8,235
Units 8
Cap Rate 5.40%
NOI $349,918
Pro-Forma NOI $511,896
Price per SqFt $789
Year Built 1932
Stories 3
Zoning R7A, C2-4
Retail | 5.40% CAP | 8,235 SqFt
Marketing description
On the corner of Myrtle Avenue & Classon Avenue
Corner Mixed-Use Building | 8 Apartments & 1 Commercial | 8,235 SF + Air Rights
Investment highlights
- Neighborhood Clinton Hill
- Block/Lot 01909/0032
- Lot Size 45’ X 65’
- Building Size 45’ X 61’
- Building SF 8,235 SF
- Building Type 3-story/Walk-up
- Total Apartments 8
- Layouts 5/4, 1/4.5, 1/5, 1/6.5
- Total Rooms 36
- Total Commercial 1
- Zoning R7A, C2-4
- FAR (built/allowed) 2.85/4.0
- Taxes (25/26) $31,809 (Class 2B)
- HPD Violations 1/C
- Year Constructed 1932
- Corner, mixed-use building consisting of 8 apartments and 1 commercial space
- 88% Free Market
- Protected Tax Class 2B
- 3,377 SF of available Air Rights
- Value-add potential with rents approximately 20% below the market rate
- Located in Brooklyn’s sought-after Clinton Hill neighborhood, this property offers unmatched access to dining, shopping, parks, and transportation
- Within walking distance to the Classon Ave Station ( train)
Listing Contacts
Listed by Alpha Realty NY
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$349,918.00
$29,159.83/mo
Valuation Metrics
0
DSCR
5.38%
Cap Rate
5.38%
ROI
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