$6,500,000
176 Atlantic Avenue
Details
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 6,472
Units 5
Cap Rate 5.90%
NOI $386,500
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.20%
Pro-Forma NOI $400,762
Price per SqFt $1,004
Class B
Year Built 1931
Buildings 1
Stories 4
Lot Size (SqFt) 1,760
Zoning R6, C2-3, LH-1
Investment Type Stabilized
Ground Lease No
Multifamily | 5.90% CAP | 5 Units
Marketing description
176 Atlantic Avenue is a five-unit mixed-use property on one of Cobble Hill's most prominent commercial corridors. The asset features three free-market residential units and two fully leased ground-floor retail spaces, generating $487,494 in current gross income. The diversified income stream and prime Atlantic Avenue frontage position the property within one of Brooklyn's most sought-after and consistently trafficked corridors.
Investment highlights
- 176 Atlantic Avenue is a five-unit mixed-use property on one of Cobble Hill's most prominent commercial corridors. The asset features three free-market residential units and two fully leased ground-floor retail spaces, generating $487,494 in current gross income. The diversified income stream and prime Atlantic Avenue frontage position the property within one of Brooklyn's most sought-after and consistently trafficked corridors.
- The property is a fully stabilized, turn-key investment with no lease-up risk or near-term capital needs. All units are occupied, with residential rents averaging $7,033/month and finished to a condo-quality standard. The building benefits from a Tax Class 2A designation, providing long-term tax stability. At a $6,500,000 ask, the asset achieves a 5.9% cap rate on $386,500 of NOI, with upside to $400,762, offering immediate, durable cash flow from closing.
- The retail component generates $231,456 annually (~47% of gross income), with both spaces fully leased and providing meaningful income diversification. Located along Atlantic Avenue, a historically strong and high-foot-traffic corridor, the tenancy blends stability and growth—anchored by Yemen Cafe, a long-standing neighborhood staple, and Sheba Bees, an emerging, award-winning concept—creating a resilient and well-balanced commercial profile.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$386,500.00
$32,208.33/mo
Valuation Metrics
0
DSCR
5.95%
Cap Rate
5.95%
ROI
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