5023 5th Ave, Brooklyn, NY 11220
Mixed Use | 5.04% CAP | 7,000 SqFt
Marketing description
East Coast Realtors Inc. is proud to present a prime investment opportunity at 5023 5th Avenue, Brooklyn, NY. This 7,000 SF mixed-use building is ideally situated at the high-visibility corner of 5th Avenue and 51st Street, commanding excellent foot traffic in a vibrant commercial corridor.
The property features a strategic blend of 6 retail units and 4 residential units, providing a diversified income stream. The building is currently 100% occupied, with all tenants on month-to-month rental agreements, offering immediate flexibility for a new owner to stabilize the asset with long-term leases or reposition the property to capture market-rate upside.
The location is exceptionally accessible, situated just one block from the N, W, and R subway lines, as well as several major bus routes. With its 1927 classic architecture and prime Sunset Park location, this asset represents a rare opportunity for investors seeking a stabilized corner property with significant future potential.
Investment highlights
- Prime Corner Location: Situated on 5th Ave and 51st St with high exposure and heavy foot traffic.
- Fully Occupied Mixed-Use Asset: Features a diverse mix of 6 commercial/retail units and 4 residential units.
- Immediate Value-Add Potential: 100% of current tenants are on month-to-month leases, allowing for immediate rent adjustments or lease restructuring.
- Strong Financial Performance: Generates a Net Operating Income (NOI) of $242,119 with a 5% Cap Rate.
- Superior Transit Accessibility: Located only one block from the N/W/R subway lines and various bus options.
- Stable Residential Income: Includes four spacious 5-bedroom, 1-bathroom residential units currently contributing over $100,000 to the annual gross income.
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