9052 Fort Hamilton Parkway
Retail | 7.74% CAP | 4,500 SqFt
Marketing description
Investment Property Realty Group (IPRG) is pleased to exclusively present the opportunity to acquire 9052 Fort Hamilton Parkway, a free-market mixed-use building located in the heart of Bay Ridge, Brooklyn. The property is situated on Fort Hamilton Parkway between 90th and 92nd Street, in close proximity to the prime 86th Street retail corridor.
The subject property consists of five residential apartments (three 1BR / two 2BR) above one retail storefront. The property benefits from the protected Tax Class 2A designation with low annual taxes. With a current rent roll of $121,800 and a clear path to a proforma income of $181,200, the asset presents nearly 50% upside to market rents at a 7.74% proforma cap rate.
The property is located steps from the 95th Street (R) subway station, providing convenient access to Manhattan and the rest of Brooklyn.
Investment highlights
- 7.74% Proforma Cap Rate - significant yield for a free-market Brooklyn asset in a prime residential neighborhood
- Nearly 50% upside to market rents
- Protected Tax Class 2A with low annual taxes
- Five apartments (three 1BR / two 2BR) + one retail storefront - diversified income stream with strong residential and commercial demand
- Prime Bay Ridge location between 90th and 92nd Streets with close proximity to the 86th Street retail corridor
- Steps from the 95th Street (R) subway station with direct service to Manhattan
- Stable, high-demand submarket with proven long-term fundamentals
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